Burgundy Asset Management Ltd. Has $66.83 Million Holdings in Oracle Corporation $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. lowered its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 478,037 shares of the enterprise software provider's stock after selling 14,505 shares during the quarter. Burgundy Asset Management Ltd.'s holdings in Oracle were worth $66,834,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ORCL. Redmont Wealth Advisors LLC acquired a new stake in Oracle during the 1st quarter valued at approximately $27,000. Inlight Wealth Management LLC acquired a new stake in Oracle during the 1st quarter valued at approximately $28,000. Iron Horse Wealth Management LLC grew its position in shares of 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 acquiring an additional 151 shares in the last quarter. Sunbeam Capital Management LLC acquired a new position in shares of Oracle in the 4th quarter worth approximately $30,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Oracle in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 42.44% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ORCL. Loop Capital set a $135.00 price target on Oracle in a report on Tuesday, June 10th. KeyCorp lifted their price target on Oracle from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. Oppenheimer restated an "outperform" rating on shares of Oracle in a report on Wednesday, June 18th. Morgan Stanley restated an "overweight" rating on shares of Oracle in a report on Wednesday, June 18th. Finally, Royal Bank Of Canada lifted their target price on Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a report on Thursday, June 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $227.04.

Oracle Stock Down 0.9%

Shares of NYSE:ORCL traded down $2.0560 on Thursday, reaching $233.0040. The company had a trading volume of 3,372,693 shares, compared to its average volume of 11,948,418. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $260.87. 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 stock has a market capitalization of $654.47 billion, a P/E ratio of 53.69, a P/E/G ratio of 3.50 and a beta of 1.43. The stock has a 50-day moving average price of $234.29 and a 200 day moving average price of $181.88.

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 for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%.The business had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter in the previous year, the firm earned $1.63 EPS. The firm's revenue was up 11.3% compared to the same quarter last year. On average, equities analysts expect 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, July 10th. Oracle's dividend payout ratio is currently 46.08%.

Insider Buying and Selling

In other news, insider Michael D. Sicilia sold 15,880 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total value of $4,041,142.40. Following the transaction, the insider directly owned 99,212 shares of the company's stock, valued at $25,247,469.76. The trade was a 13.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria Smith sold 10,000 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the transaction, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 444,183 shares of company stock worth $86,521,198. Insiders own 42.20% of the company's stock.

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.