Praesidium Investment Management Company Lowers stake in Open Text Corporation (USA) (OTEX)

Open Text Corporation (USA) (OTEX) : Praesidium Investment Management Company reduced its stake in Open Text Corporation (USA) by 7.14% during the most recent quarter end. The investment management company now holds a total of 1,736,026 shares of Open Text Corporation (USA) which is valued at $105,515,660 after selling 133,521 shares in Open Text Corporation (USA) , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Open Text Corporation (USA) makes up approximately 8.65% of Praesidium Investment Management Company’s portfolio.

Other Hedge Funds, Including , Signaturefd boosted its stake in OTEX in the latest quarter, The investment management firm added 81 additional shares and now holds a total of 128 shares of Open Text Corporation (USA) which is valued at $7,557.Shell Asset Management Co reduced its stake in OTEX by selling 4,400 shares or 15.7% in the most recent quarter. The Hedge Fund company now holds 23,620 shares of OTEX which is valued at $1,466,330. Open Text Corporation (USA) makes up approx 0.04% of Shell Asset Management Co’s portfolio.Boston Advisors boosted its stake in OTEX in the latest quarter, The investment management firm added 5,430 additional shares and now holds a total of 294,261 shares of Open Text Corporation (USA) which is valued at $18,691,459. Open Text Corporation (USA) makes up approx 0.47% of Boston Advisors’s portfolio.Agf Investments reduced its stake in OTEX by selling 624 shares or 0.21% in the most recent quarter. The Hedge Fund company now holds 292,641 shares of OTEX which is valued at $18,878,271. Open Text Corporation (USA) makes up approx 0.21% of Agf Investments’s portfolio.Acadian Asset Management boosted its stake in OTEX in the latest quarter, The investment management firm added 77,800 additional shares and now holds a total of 446,900 shares of Open Text Corporation (USA) which is valued at $28,802,705. Open Text Corporation (USA) makes up approx 0.14% of Acadian Asset Management’s portfolio.

Open Text Corporation (USA) closed down -0.13 points or -0.21% at $61.48 with 2,09,189 shares getting traded on Monday. Post opening the session at $61.6, the shares hit an intraday low of $60.78 and an intraday high of $61.8 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Open Text Corporation (USA) reported $0.86 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Nov 3, 2016. Analyst had a consensus of $0.89. The company had revenue of $491.70 million for the quarter, compared to analysts expectations of $495.95 million. The company’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

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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