Farther Finance Advisors LLC Grows Stock Holdings in Open Text Co. (NASDAQ:OTEX)

Farther Finance Advisors LLC grew its holdings in Open Text Co. (NASDAQ:OTEX) (TSE:OTC) by 15.4% during the fourth quarter, HoldingsChannel reports. The firm owned 10,041 shares of the software maker’s stock after acquiring an additional 1,340 shares during the period. Farther Finance Advisors LLC’s holdings in Open Text were worth $284,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OTEX. IFP Advisors Inc increased its stake in Open Text by 103.8% during the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker’s stock worth $29,000 after acquiring an additional 515 shares during the last quarter. Blue Trust Inc. lifted its position in Open Text by 40.8% in the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker’s stock valued at $39,000 after buying an additional 398 shares during the last quarter. Allworth Financial LP boosted its stake in Open Text by 20.7% during the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker’s stock worth $73,000 after buying an additional 439 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of Open Text during the fourth quarter valued at about $138,000. Finally, Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Open Text in the 4th quarter valued at approximately $241,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Open Text Stock Up 0.3 %

OTEX stock opened at $26.09 on Wednesday. The company’s 50 day moving average price is $27.59 and its 200 day moving average price is $29.79. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. Open Text Co. has a fifty-two week low of $24.86 and a fifty-two week high of $40.55. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 10.61 and a beta of 1.17.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its earnings results on Thursday, February 6th. The software maker reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. Open Text had a net margin of 12.21% and a return on equity of 23.23%. On average, equities research analysts anticipate that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 4.02%. This is an increase from Open Text’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, March 7th. Open Text’s dividend payout ratio is 42.68%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on OTEX shares. TD Securities dropped their target price on shares of Open Text from $38.00 to $35.00 and set a “buy” rating for the company in a report on Sunday, February 9th. Barclays lifted their price objective on Open Text from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Citigroup lifted their price objective on Open Text from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. UBS Group assumed coverage on Open Text in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $32.00 price objective for the company. Finally, StockNews.com cut Open Text from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Open Text presently has an average rating of “Hold” and an average price target of $35.18.

Open Text Profile

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.