Commerce Bank increased its holdings in shares of Oracle Corporation (NYSE:ORCL) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,022,665 shares of the enterprise software provider’s stock after acquiring an additional 22,329 shares during the quarter. Commerce Bank’s holdings in Oracle were worth $49,446,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of ORCL. Keel Point LLC raised its stake in shares of Oracle by 0.3% in the second quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock valued at $268,000 after buying an additional 14 shares during the period. Joel Isaacson & Co. LLC raised its stake in shares of Oracle by 0.3% in the second quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock valued at $411,000 after buying an additional 24 shares during the period. Flagship Harbor Advisors LLC raised its stake in shares of Oracle by 0.4% in the second quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock valued at $404,000 after buying an additional 35 shares during the period. Partnervest Advisory Services LLC raised its stake in shares of Oracle by 0.6% in the second quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after buying an additional 39 shares during the period. Finally, Klingenstein Fields & Co. LLC grew its position in shares of Oracle by 0.9% in the second quarter. Klingenstein Fields & Co. LLC now owns 6,679 shares of the enterprise software provider’s stock valued at $335,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 57.89% of the company’s stock.
ORCL has been the subject of several recent research reports. Canaccord Genuity initiated coverage on Oracle in a research report on Friday, October 6th. They issued a “buy” rating and a $57.00 price target for the company. Wedbush reiterated a “buy” rating and issued a $58.00 price target on shares of Oracle in a research report on Friday, December 15th. Vetr cut Oracle from a “buy” rating to a “hold” rating and set a $51.82 price target for the company. in a research report on Wednesday. JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the company a “buy” rating in a research report on Tuesday, December 12th. Finally, BidaskClub upgraded Oracle from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $55.27.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the prior year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. research analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is presently 32.62%.
Oracle declared that its board has approved a share repurchase plan on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the sale, the executive vice president now owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $49.72, for a total value of $186,450.00. Following the completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $901,175. The disclosure for this sale can be found here. In the last three months, insiders sold 111,250 shares of company stock valued at $5,310,063. 29.00% of the stock is currently owned by corporate insiders.
Oracle Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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