1832 Asset Management L.P. Adds $81M in Open Text Corporation ($OTEX)
Key Points
- 1832 Asset Management L.P. changed its Open Text Corporation ($OTEX) stake by 15.5% last quarter, boosting to 27,238,523 shares worth $605.51 million.
- Wall Street's consensus rating on $OTEX is Hold and an average price target of $29.00.
- $OTEX last traded around $22.23.
1832 Asset Management L.P. increased its position in Open Text Corporation ($OTEX) by 15.5% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,238,523 shares of Open Text Corporation after buying 3,645,536 shares during the quarter. 1832 Asset Management L.P.'s holdings in Open Text Corporation were worth $605.51 million as of its most recent filing.
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About Open Text Corporation
Open Text Corporation designs, develops, markets, and sells information management software and solutions in North, Central, and South America, Europe, the Middle East, Africa, Australia, Japan, Singapore, India, and China. The company offers cloud services and subscriptions, including software as a service offerings, application programming interfaces and data services, and private, public, and off-cloud products, such as hosted services and managed service arrangements; foundational platform of technology services; and packaged business applications, as well as managed services and outsourced B2B integration solutions, including program implementation, operational management, and customer support. It also provides fees earned from the licensing of software products to customers; and consulting and learning services, such as implementation, training, and integration of licensed product offerings into the customer's systems. In addition, the company offers various business clouds, including content, cybersecurity, DevOps, business network, observability and service management, and analytics; and artificial intelligence, software developers API, and other related services. It has strategic partnerships with SAP SE, Google Cloud, Amazon Web Services, Microsoft Corporation, Oracle Corporation, and Salesforce.com Corporation, as well as global systems integrators, including Accenture plc, Capgemini Technology Services SAS, Deloitte Consulting LLP, Hewlett Packard Enterprises, and Tata Consultancy Services. The company serves G10K organizations, enterprise companies, public sector agencies, mid-market companies, small and medium-sized businesses, and direct consumers. Open Text Corporation was incorporated in 1991 and is headquartered in Waterloo, Canada.
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