Open Text Co. (NASDAQ:OTEX) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its holdings in shares of Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 329,760 shares of the software maker’s stock after selling 7,030 shares during the period. Crossmark Global Holdings Inc.’s holdings in Open Text were worth $9,339,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of OTEX. Assenagon Asset Management S.A. grew its position in shares of Open Text by 1.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 18,872 shares of the software maker’s stock valued at $629,000 after buying an additional 322 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Open Text by 3.3% during the third quarter. BNP Paribas Financial Markets now owns 11,093 shares of the software maker’s stock valued at $369,000 after purchasing an additional 351 shares during the last quarter. Cromwell Holdings LLC raised its position in shares of Open Text by 29.6% during the 3rd quarter. Cromwell Holdings LLC now owns 1,663 shares of the software maker’s stock worth $55,000 after purchasing an additional 380 shares during the period. Blue Trust Inc. lifted its holdings in shares of Open Text by 435.7% in the 3rd quarter. Blue Trust Inc. now owns 975 shares of the software maker’s stock worth $32,000 after purchasing an additional 793 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Open Text by 5.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,436 shares of the software maker’s stock valued at $524,000 after purchasing an additional 874 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group started coverage on Open Text in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 target price on the stock. Royal Bank of Canada cut shares of Open Text from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $45.00 to $33.00 in a report on Friday, November 1st. BMO Capital Markets reduced their target price on shares of Open Text from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Friday, November 1st. TD Securities cut their price target on Open Text from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, December 30th. Finally, Barclays decreased their price objective on Open Text from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Open Text presently has an average rating of “Hold” and a consensus target price of $35.27.

Open Text Stock Performance

Shares of NASDAQ OTEX opened at $28.36 on Wednesday. Open Text Co. has a 1 year low of $26.84 and a 1 year high of $45.47. The firm has a market cap of $7.48 billion, a P/E ratio of 16.39 and a beta of 1.12. The stock has a fifty day moving average price of $28.99 and a two-hundred day moving average price of $30.82. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.79.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its earnings results on Thursday, October 31st. The software maker reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Open Text had a return on equity of 24.34% and a net margin of 8.35%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $0.90 earnings per share. Open Text’s revenue was down 11.0% compared to the same quarter last year. Research analysts forecast that Open Text Co. will post 3.37 EPS for the current fiscal year.

Open Text Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were issued a dividend of $0.262 per share. This represents a $1.05 dividend on an annualized basis and a yield of 3.70%. This is a boost from Open Text’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, November 29th. Open Text’s dividend payout ratio (DPR) is presently 60.69%.

About Open Text

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.