Dorchester Wealth Management Co Lowers stake in Open Text Corporation (USA) (OTEX)

Open Text Corporation (USA) (OTEX) : Dorchester Wealth Management Co reduced its stake in Open Text Corporation (USA) by 0.54% during the most recent quarter end. The investment management company now holds a total of 55,455 shares of Open Text Corporation (USA) which is valued at $3,557,438 after selling 300 shares in Open Text Corporation (USA) , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Open Text Corporation (USA) makes up approximately 1.34% of Dorchester Wealth Management Co’s portfolio.

Other Hedge Funds, Including , Howe Rusling Inc added OTEX to its portfolio by purchasing 266 company shares during the most recent quarter which is valued at $17,064.Creative Planning boosted its stake in OTEX in the latest quarter, The investment management firm added 513 additional shares and now holds a total of 1,543 shares of Open Text Corporation (USA) which is valued at $98,443.Legal General Group Plc boosted its stake in OTEX in the latest quarter, The investment management firm added 2,158 additional shares and now holds a total of 103,187 shares of Open Text Corporation (USA) which is valued at $6,583,331. Open Text Corporation (USA) makes up approx 0.01% of Legal General Group Plc’s portfolio.Cutler Group Lp reduced its stake in OTEX by selling 1,540 shares or 45.36% in the most recent quarter. The Hedge Fund company now holds 1,855 shares of OTEX which is valued at $119,555. Open Text Corporation (USA) makes up approx 0.01% of Cutler Group Lp’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in OTEX in the latest quarter, The investment management firm added 735 additional shares and now holds a total of 13,456 shares of Open Text Corporation (USA) which is valued at $874,236.

Open Text Corporation (USA) opened for trading at $63.88 and hit $64.54 on the upside on Friday, eventually ending the session at $64.15, with a gain of 0.56% or 0.36 points. The heightened volatility saw the trading volume jump to 1,63,315 shares. Company has a market cap of $7,791 M.

On the company’s financial health, Open Text Corporation (USA) reported $0.89 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.94. The company had revenue of $484.00 million for the quarter, compared to analysts expectations of $486.64 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS.

Many Wall Street Analysts have commented on Open Text Corporation (USA). Company shares were Reiterated by The Benchmark Company on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 75 from a previous price target of $65 .

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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