Burgundy Asset Management Ltd. Sells 14,505 Shares of Oracle Corporation (NYSE:ORCL)

Key Points

• Burgundy Asset Management Ltd. reduced its stake in Oracle Corporation by 2.9%, selling 14,505 shares and retaining 478,037 shares valued at approximately $66.8 million.
• Oracle reported earnings of $1.70 per share for the last quarter, exceeding analyst expectations of $1.64, with a revenue increase of 11.3% year-over-year.
• The company recently announced a quarterly dividend of $0.50 per share, reflecting an annualized dividend yield of 0.8% and a payout ratio of 46.08%.

Burgundy Asset Management Ltd. lessened its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 478,037 shares of the enterprise software provider's stock after selling 14,505 shares during the period. Burgundy Asset Management Ltd.'s holdings in Oracle were worth $66,834,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ORCL. Sunbeam Capital Management LLC bought a new position in Oracle in the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC bought a new position in Oracle in the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC bought a new position in Oracle in the 1st quarter worth approximately $28,000. Iron Horse Wealth Management LLC raised its position in Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in Oracle in the 4th quarter worth approximately $36,000. Institutional investors own 42.44% of the company's stock.

Oracle Stock Performance

Shares of NYSE ORCL opened at $248.48 on Friday. The firm's 50-day moving average price is $230.54 and its 200-day moving average price is $180.52. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The company has a market cap of $697.94 billion, a PE ratio of 57.25, a PEG ratio of 3.71 and a beta of 1.43. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $260.87.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. As a group, analysts anticipate that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. Oracle's dividend payout ratio (DPR) is presently 46.08%.

Insider Activity

In other news, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the sale, the executive vice president owned 40,807 shares in the company, valued at $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total transaction of $770,655.96. Following the sale, the director owned 31,447 shares in the company, valued at approximately $7,337,214.04. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 444,183 shares of company stock valued at $86,521,198. Company insiders own 42.20% of the company's stock.

Wall Street Analyst Weigh In

ORCL has been the subject of several research analyst reports. Cowen restated a "buy" rating on shares of Oracle in a research report on Thursday, June 12th. Oppenheimer reiterated an "outperform" rating on shares of Oracle in a research report on Wednesday, June 18th. Bank of America upped their target price on shares of Oracle from $220.00 to $295.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. BMO Capital Markets upped their target price on shares of Oracle from $235.00 to $245.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Roth Capital reiterated a "hold" rating on shares of Oracle in a research report on Wednesday, June 18th. Nine analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Oracle currently has a consensus rating of "Moderate Buy" and a consensus price target of $227.04.

Oracle Company Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

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