NN Investment Partners Holdings N.V. Raises Holdings in Open Text Corp (OTEX)

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NN Investment Partners Holdings N.V. grew its stake in shares of Open Text Corp (NASDAQ:OTEX) (TSE:OTC) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 428,035 shares of the software maker’s stock after acquiring an additional 3,867 shares during the period. NN Investment Partners Holdings N.V. owned 0.16% of Open Text worth $16,282,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OTEX. AdvisorNet Financial Inc bought a new position in shares of Open Text during the second quarter worth approximately $115,000. Tower Research Capital LLC TRC bought a new position in shares of Open Text during the second quarter worth approximately $160,000. A.R.T. Advisors LLC bought a new position in shares of Open Text during the first quarter worth approximately $236,000. Greenleaf Trust increased its holdings in shares of Open Text by 79.0% during the second quarter. Greenleaf Trust now owns 7,045 shares of the software maker’s stock worth $248,000 after purchasing an additional 3,110 shares during the period. Finally, River Road Asset Management LLC bought a new position in shares of Open Text during the second quarter worth approximately $263,000. Hedge funds and other institutional investors own 67.61% of the company’s stock.

Shares of Open Text stock opened at $33.27 on Wednesday. Open Text Corp has a fifty-two week low of $32.05 and a fifty-two week high of $40.31. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 36.56 and a beta of 0.27.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its earnings results on Thursday, August 2nd. The software maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Open Text had a net margin of 8.60% and a return on equity of 8.09%. The firm had revenue of $754.30 million for the quarter, compared to analyst estimates of $732.02 million. During the same quarter last year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. Equities analysts anticipate that Open Text Corp will post 0.74 EPS for the current fiscal year.

Several brokerages have recently commented on OTEX. BidaskClub raised shares of Open Text from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 10th. Industrial Alliance Securities raised their target price on shares of Open Text from $40.00 to $42.00 in a report on Friday, August 3rd. Royal Bank of Canada raised their target price on shares of Open Text from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 3rd. TD Securities raised their target price on shares of Open Text from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Raymond James raised their target price on shares of Open Text from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $44.18.

Open Text Profile

Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.

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Institutional Ownership by Quarter for Open Text (NASDAQ:OTEX)

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