North Point Portfolio Managers Corpoh Lowers stake in Open Text Corporation (USA) (OTEX)

Open Text Corporation (USA) (OTEX) : North Point Portfolio Managers Corpoh reduced its stake in Open Text Corporation (USA) by 2.13% during the most recent quarter end. The investment management company now holds a total of 248,343 shares of Open Text Corporation (USA) which is valued at $15,595,940 after selling 5,411 shares in Open Text Corporation (USA) , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Open Text Corporation (USA) makes up approximately 2.98% of North Point Portfolio Managers Corpoh’s portfolio.

Other Hedge Funds, Including , Boston Advisors boosted its stake in OTEX in the latest quarter, The investment management firm added 84,414 additional shares and now holds a total of 288,831 shares of Open Text Corporation (USA) which is valued at $18,138,587. Open Text Corporation (USA) makes up approx 0.44% of Boston Advisors’s portfolio.Dorchester Wealth Management Co boosted its stake in OTEX in the latest quarter, The investment management firm added 225 additional shares and now holds a total of 55,755 shares of Open Text Corporation (USA) which is valued at $3,418,339. Open Text Corporation (USA) makes up approx 1.24% of Dorchester Wealth Management Co’s portfolio.Cibc World Markets boosted its stake in OTEX in the latest quarter, The investment management firm added 164,236 additional shares and now holds a total of 326,077 shares of Open Text Corporation (USA) which is valued at $19,991,781. Open Text Corporation (USA) makes up approx 0.09% of Cibc World Markets’s portfolio. Leavell Investment Management added OTEX to its portfolio by purchasing 6,385 company shares during the most recent quarter which is valued at $398,360. Open Text Corporation (USA) makes up approx 0.06% of Leavell Investment Management’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in OTEX in the latest quarter, The investment management firm added 5,685 additional shares and now holds a total of 12,721 shares of Open Text Corporation (USA) which is valued at $749,649.

Open Text Corporation (USA) opened for trading at $59.6 and hit $61.24 on the upside on Friday, eventually ending the session at $60.93, with a gain of 2.42% or 1.44 points. The heightened volatility saw the trading volume jump to 3,68,781 shares. Company has a market cap of $7,400 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 .Company shares were Reiterated by RBC Capital Mkts on Jun 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $60 .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 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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