Intact Investment Management Cut Its Holding in Open Text (OTEX) as Market Valuation Declined; Sandhill Capital Partners Stake In Adobe Sys Com (ADBE) Was Raised

January 20, 2018 - By Maria Brooks

Sandhill Capital Partners Llc increased its stake in Adobe Sys Inc Com (ADBE) by 1.67% based on its latest 2017Q3 regulatory filing with the SEC. Sandhill Capital Partners Llc bought 2,602 shares as the company’s stock rose 14.01% with the market. The institutional investor held 158,247 shares of the prepackaged software company at the end of 2017Q3, valued at $23.61 million, up from 155,645 at the end of the previous reported quarter. Sandhill Capital Partners Llc who had been investing in Adobe Sys Inc Com for a number of months, seems to be bullish on the $96.48 billion market cap company. The stock decreased 0.24% or $0.47 during the last trading session, reaching $195.73. About 2.34 million shares traded. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 42.29% since January 20, 2017 and is uptrending. It has outperformed by 25.59% the S&P500.

Intact Investment Management Inc decreased its stake in Open Text Corp (OTEX) by 3.36% based on its latest 2017Q3 regulatory filing with the SEC. Intact Investment Management Inc sold 25,400 shares as the company’s stock declined 3.85% while stock markets rallied. The institutional investor held 729,840 shares of the edp services company at the end of 2017Q3, valued at $29.38 million, down from 755,240 at the end of the previous reported quarter. Intact Investment Management Inc who had been investing in Open Text Corp for a number of months, seems to be less bullish one the $8.94B market cap company. The stock decreased 0.12% or $0.04 during the last trading session, reaching $33.66. About 316,719 shares traded. Open Text Corporation (NASDAQ:OTEX) has risen 15.94% since January 20, 2017 and is uptrending. It has underperformed by 0.76% the S&P500.

Intact Investment Management Inc, which manages about $2.30B US Long portfolio, upped its stake in Groupe Cgi Inc (NYSE:GIB) by 17,200 shares to 327,400 shares, valued at $21.18 million in 2017Q3, according to the filing. It also increased its holding in North Amern Energy Partners (NYSE:NOA) by 95,267 shares in the quarter, for a total of 514,567 shares, and has risen its stake in Royal Bk Cda Montreal Que (NYSE:RY).

Analysts await Open Text Corporation (NASDAQ:OTEX) to report earnings on February, 1. They expect $0.12 EPS, down 33.33% or $0.06 from last year’s $0.18 per share. OTEX’s profit will be $31.86M for 70.13 P/E if the $0.12 EPS becomes a reality. After $0.14 actual EPS reported by Open Text Corporation for the previous quarter, Wall Street now forecasts -14.29% negative EPS growth.

Among 10 analysts covering OpenText Corporation (NASDAQ:OTEX), 8 have Buy rating, 1 Sell and 1 Hold. Therefore 80% are positive. OpenText Corporation had 21 analyst reports since July 30, 2015 according to SRatingsIntel. The company was initiated on Thursday, February 16 by Citigroup. The stock of Open Text Corporation (NASDAQ:OTEX) earned “Buy” rating by TD Securities on Monday, April 4. The rating was maintained by Barclays Capital on Tuesday, July 28 with “Overweight”. The firm has “Outperform” rating given on Thursday, July 30 by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Tuesday, September 26 with “Buy”. The company was maintained on Thursday, October 29 by Barclays Capital. As per Friday, August 4, the company rating was maintained by Barclays Capital. On Wednesday, November 22 the stock rating was maintained by Raymond James with “Buy”. The stock has “Buy” rating by BMO Capital Markets on Thursday, August 3. The stock of Open Text Corporation (NASDAQ:OTEX) has “Overweight” rating given on Tuesday, January 24 by Barclays Capital.

Among 38 analysts covering Adobe Systems (NASDAQ:ADBE), 29 have Buy rating, 0 Sell and 9 Hold. Therefore 76% are positive. Adobe Systems had 135 analyst reports since August 11, 2015 according to SRatingsIntel. The company was maintained on Wednesday, December 13 by Bank of America. The rating was maintained by Stifel Nicolaus on Thursday, October 19 with “Buy”. The firm has “Neutral” rating given on Friday, March 18 by Credit Suisse. The rating was upgraded by Robert W. Baird to “Neutral” on Tuesday, August 25. The rating was initiated by BMO Capital Markets on Thursday, January 5 with “Outperform”. As per Thursday, October 19, the company rating was maintained by Cowen & Co. JP Morgan maintained the shares of ADBE in report on Wednesday, October 7 with “Overweight” rating. On Friday, December 11 the stock rating was maintained by FBR Capital with “Mkt Perform”. The firm earned “Buy” rating on Wednesday, September 21 by Citigroup. The stock has “Outperform” rating by RBC Capital Markets on Friday, March 18.

Since August 9, 2017, it had 1 buy, and 7 sales for $6.56 million activity. 1,125 shares were bought by Banse Amy, worth $199,520. The insider WARNOCK JOHN E sold $1.18 million. Another trade for 2,190 shares valued at $379,784 was made by THOMPSON MATTHEW on Monday, October 23. GESCHKE CHARLES M had sold 21,276 shares worth $3.97 million.

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