New South Capital Management Inc buys $194.1 Million stake in Open Text Corporation (USA) (OTEX)

Open Text Corporation (USA) (OTEX) : New South Capital Management Inc scooped up 52,705 additional shares in Open Text Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 3,485,968 shares of Open Text Corporation (USA) which is valued at $194.1 Million.Open Text Corporation (USA) makes up approximately 4.71% of New South Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Snow Capital Management Lp boosted its stake in OTEX in the latest quarter, The investment management firm added 82,635 additional shares and now holds a total of 1,047,146 shares of Open Text Corporation (USA) which is valued at $58.3 Million. Open Text Corporation (USA) makes up approx 2.62% of Snow Capital Management Lp’s portfolio.Nine Chapters Capital Management boosted its stake in OTEX in the latest quarter, The investment management firm added 43,900 additional shares and now holds a total of 49,400 shares of Open Text Corporation (USA) which is valued at $2.8 Million. Open Text Corporation (USA) makes up approx 0.24% of Nine Chapters Capital Management’s portfolio.Disciplined Growth Investors Inc Mn reduced its stake in OTEX by selling 93,875 shares or 2.99% in the most recent quarter. The Hedge Fund company now holds 3,048,544 shares of OTEX which is valued at $166.2 Million. Open Text Corporation (USA) makes up approx 4.26% of Disciplined Growth Investors Inc Mn’s portfolio.Nationwide Fund Advisors reduced its stake in OTEX by selling 4,800 shares or 7.69% in the most recent quarter. The Hedge Fund company now holds 57,600 shares of OTEX which is valued at $3.1 Million. Open Text Corporation (USA) makes up approx 0.01% of Nationwide Fund Advisors’s portfolio.State Of Wisconsin Investment Board reduced its stake in OTEX by selling 3,600 shares or 3.39% in the most recent quarter. The Hedge Fund company now holds 102,684 shares of OTEX which is valued at $5.6 Million. Open Text Corporation (USA) makes up approx 0.02% of State Of Wisconsin Investment Board’s portfolio.

Open Text Corporation (USA) opened for trading at $55.83 and hit $56.58 on the upside on Monday, eventually ending the session at $56.18, with a gain of 0.90% or 0.5 points. The heightened volatility saw the trading volume jump to 2,29,471 shares. Company has a market cap of $6,814 M.

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.

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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