<div id="readability-page-1"><p>CIBC Asset Management Inc increased its stake in Open Text Co. (NASDAQ:OTEX - Free Report) <span>TSE: OTC<span></span></span> by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities &amp; Exchange Commission. The fund owned 1,022,387 shares of the software maker's stock after buying an additional 25,665 shares during the quarter. CIBC Asset Management Inc owned about 0.38% of Open Text worth $30,681,000 as of its most recent SEC filing.</p><ul><li>OpenText <span>NASDAQ: OTEX<span></span></span> is a Business Resurgence Buy </li></ul><p>Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Open Text in the fourth quarter worth $139,600,000. Clearbridge Investments LLC purchased a new stake in Open Text in the fourth quarter worth $117,627,000. FIL Ltd increased its stake in Open Text by 25.7% in the fourth quarter. FIL Ltd now owns 9,058,024 shares of the software maker's stock worth $380,696,000 after purchasing an additional 1,853,891 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Open Text by 73.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,852,184 shares of the software maker's stock valued at $77,970,000 after buying an additional 785,157 shares during the period. Finally, Beutel Goodman &amp; Co Ltd. increased its stake in shares of Open Text by 9.9% during the fourth quarter. Beutel Goodman &amp; Co Ltd. now owns 8,661,252 shares of the software maker's stock valued at $365,800,000 after buying an additional 782,885 shares during the period. 70.37% of the stock is currently owned by institutional investors. </p><h2>Open Text Price Performance</h2><p>Shares of NASDAQ OTEX opened at $31.82 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $8.59 billion, a PE ratio of 51.32 and a beta of 1.12. The business has a 50-day simple moving average of $30.99 and a two-hundred day simple moving average of $33.20. Open Text Co. has a fifty-two week low of $27.50 and a fifty-two week high of $45.47. </p><p>Open Text (NASDAQ:OTEX - Get Free Report) <span>TSE: OTC<span></span></span> last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.41 billion. Open Text had a return on equity of 25.00% and a net margin of 8.06%. The company's quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share. As a group, equities analysts expect that Open Text Co. will post 3.18 EPS for the current fiscal year. </p><h2>Open Text Cuts Dividend</h2><p>The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be issued a $0.192 dividend. This represents a $0.77 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Friday, August 30th. Open Text's dividend payout ratio is presently 169.35%. </p><h2>Analyst Upgrades and Downgrades</h2><p>OTEX has been the topic of several research reports. Citigroup cut their price target on Open Text from $37.00 to $32.00 and set a &#34;neutral&#34; rating on the stock in a research note on Wednesday, June 26th. CIBC cut their price target on Open Text from $36.00 to $33.00 and set a &#34;neutral&#34; rating on the stock in a research note on Friday, July 19th. Jefferies Financial Group cut their price target on Open Text from $42.00 to $35.00 and set a &#34;buy&#34; rating on the stock in a research note on Friday, August 2nd. BMO Capital Markets cut their price target on Open Text from $38.00 to $33.00 and set a &#34;market perform&#34; rating on the stock in a research note on Friday, August 2nd. Finally, Barclays cut their price target on Open Text from $38.00 to $36.00 and set an &#34;equal weight&#34; rating on the stock in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of &#34;Hold&#34; and an average price target of $38.60.</p><p><b>View Our Latest Stock Report on Open Text</b></p><h2>Open Text Profile</h2> (Free Report)<p>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.</p><h2>See Also</h2><ul><li>Five stocks we like better than Open Text</li><li>The How And Why of Investing in Oil Stocks</li><li>Don’t Count Out CrowdStrike Yet: Key Insights from Q2 Earnings</li><li>CD Calculator: Certificate of Deposit Calculator </li><li>Why Lululemon's Setback Could Be Your Next Big Win</li><li>How to Invest in Blue Chip Stocks</li><li>3 Best Dividend Stocks to Buy as Interest Rates Fall</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9T1RFWA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9T1RFWA"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Open Text wasn't on the list.</p><p>While Open Text currently has a &#34;Hold&#34; rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p> </div>

OTEX

<p>CIBC Asset Management Inc has increased its stake in Open Text Co. (NASDAQ:OTEX) by 2.6%, acquiring an additional 25,665 shares, bringing its total to 1,022,387 shares. As of the latest SEC filing, CIBC owned about 0.38% of Open Text, valued at $681,000. Various institutional investors also increased their stakes in Open Text, and the company recently declared a dividend with a payout ratio of 169.35%. The stock has received mixed ratings from analysts, with an average consensus rating of "Hold."</p>

CIBC Asset Management Inc Buys 25,665 Shares of Open Text Co. (NASDAQ:OTEX)