Connor Clark & Lunn Investment Management Ltd. Has $9.87 Million Stock Position in Oracle Corporation (NYSE:ORCL)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Oracle Corporation by 48.3% during the first quarter, now holding shares worth approximately $9.87 million.
• Several institutional investors modified their holdings in Oracle, with Cynosure Group LLC increasing its stake by 20.3% and Zions Bancorporation acquiring a new position worth approximately $1.91 million.
• Oracle's quarterly earnings exceeded expectations, reporting $1.70 EPS and revenue of $15.90 billion, an increase of 11.3% from the same quarter last year.

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 48.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,566 shares of the enterprise software provider's stock after selling 66,037 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Oracle were worth $9,866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cynosure Group LLC lifted its stake in Oracle by 20.3% in the 1st quarter. Cynosure Group LLC now owns 2,411 shares of the enterprise software provider's stock valued at $337,000 after purchasing an additional 407 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Oracle in the first quarter valued at approximately $1,908,000. Townsquare Capital LLC increased its stake in Oracle by 13.1% in the first quarter. Townsquare Capital LLC now owns 488,979 shares of the enterprise software provider's stock valued at $68,364,000 after acquiring an additional 56,607 shares during the last quarter. Founders Financial Alliance LLC grew its stake in shares of Oracle by 15.1% during the first quarter. Founders Financial Alliance LLC now owns 5,935 shares of the enterprise software provider's stock worth $830,000 after buying an additional 778 shares during the last quarter. Finally, Savvy Advisors Inc. grew its stake in shares of Oracle by 10.0% in the first quarter. Savvy Advisors Inc. now owns 10,412 shares of the enterprise software provider's stock worth $1,456,000 after purchasing an additional 944 shares during the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Oracle

In other Oracle news, insider Michael D. Sicilia sold 15,880 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the sale, the insider directly owned 99,212 shares in the company, valued at approximately $25,247,469.76. The trade was a 13.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rona Alison Fairhead bought 480 shares of the firm's stock in a transaction on Monday, July 7th. The shares were bought at an average price of $233.87 per share, for a total transaction of $112,257.60. Following the completion of the transaction, the director directly owned 22,110 shares in the company, valued at approximately $5,170,865.70. This represents a 2.22% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 444,183 shares of company stock worth $86,521,198. 42.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ORCL. Bank of America boosted their target price on shares of Oracle from $220.00 to $295.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Oppenheimer reaffirmed an "outperform" rating on shares of Oracle in a research report on Wednesday, June 18th. Roth Capital reaffirmed a "hold" rating on shares of Oracle in a research report on Wednesday, June 18th. Morgan Stanley reissued an "overweight" rating on shares of Oracle in a research report on Wednesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $240.00 price target (up from $200.00) on shares of Oracle in a research note on Thursday, June 12th. 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.75.

Oracle Price Performance

Oracle stock opened at $253.00 on Tuesday. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $260.87. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The business has a 50 day simple moving average of $224.37 and a 200-day simple moving average of $178.23. The stock has a market capitalization of $710.63 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 3.73 and a beta of 1.43.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS 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 prior year, the business earned $1.63 earnings per share. The company's quarterly revenue was up 11.3% compared to the same quarter last year. Equities analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

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

Oracle 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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