Tealwood Asset Management Inc Lowers stake in Open Text Corporation (USA) (OTEX)

Open Text Corporation (USA) (OTEX) : Tealwood Asset Management Inc reduced its stake in Open Text Corporation (USA) by 0.49% during the most recent quarter end. The investment management company now holds a total of 100,228 shares of Open Text Corporation (USA) which is valued at $5,580,695 after selling 490 shares in Open Text Corporation (USA) , the firm said in a disclosure report filed with the SEC on May 9, 2016.Open Text Corporation (USA) makes up approximately 2.51% of Tealwood Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Airain Ltd added OTEX to its portfolio by purchasing 5,427 company shares during the most recent quarter which is valued at $302,175. Open Text Corporation (USA) makes up approx 0.02% of Airain Ltd’s portfolio. Andra Ap-fonden added OTEX to its portfolio by purchasing 38,300 company shares during the most recent quarter which is valued at $2,087,733. Open Text Corporation (USA) makes up approx 0.06% of Andra Ap-fonden’s portfolio.Burney Co reduced its stake in OTEX by selling 6,579 shares or 6.01% in the most recent quarter. The Hedge Fund company now holds 102,891 shares of OTEX which is valued at $5,608,588. Open Text Corporation (USA) makes up approx 0.41% of Burney Co’s portfolio.World Asset Management Inc boosted its stake in OTEX in the latest quarter, The investment management firm added 437 additional shares and now holds a total of 6,917 shares of Open Text Corporation (USA) which is valued at $386,799. Open Text Corporation (USA) makes up approx 0.02% of World Asset Management Inc’s portfolio.North Point Portfolio Managers Corpoh reduced its stake in OTEX by selling 3,679 shares or 1.43% in the most recent quarter. The Hedge Fund company now holds 253,754 shares of OTEX which is valued at $14,189,924. Open Text Corporation (USA) makes up approx 2.73% of North Point Portfolio Managers Corpoh’s portfolio.

Open Text Corporation (USA) closed down -0.19 points or -0.34% at $55.68 with 3,00,181 shares getting traded on Friday. Post opening the session at $55.66, the shares hit an intraday low of $55.345 and an intraday high of $56.23 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Open Text Corporation (USA) reported $0.80 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.84. The company had revenue of $440.50 million for the quarter, compared to analysts expectations of $450.99 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Open Text Corporation (USA). Company shares were Reiterated by The Benchmark Company on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 65 from a previous price target of $55 .Open Text Corporation (USA) was Initiated by TD Securities to “Buy” on Apr 4, 2016. Company shares were Reiterated by RBC Capital Mkts on Feb 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 57 from a previous price target of $55 .

Open Text Corporation is a Canada-based company operating in enterprise information market (EIM). The Company provides software products and services to organizations in finding utilizing and sharing business information. The Company’s products and services include enterprise content management (ECM) business process management (BPM) customer experience management (CEM) information exchange (iX) discovery and analytics and reporting. Its ECM solutions include content management archiving and core among others. Its BPM solutions include process suite platform capture and recognition systems and process suite solutions. Its CEM solutions include Web content management digital asset management and portal. Its iX solutions include business-to-business (B2B) integration fax solutions and secure messaging. Its discovery solutions include search and InfoFusion. Its analytics and reporting solutions include embedded analytics and reporting and advanced analytics.

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