Oracle Corporation (NYSE:ORCL) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC lowered its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 84.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,677 shares of the enterprise software provider's stock after selling 14,062 shares during the quarter. Convergence Investment Partners LLC's holdings in Oracle were worth $374,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new stake in Oracle during the 4th quarter worth approximately $30,000. Hurley Capital LLC acquired a new stake in shares of Oracle in the 4th quarter valued at approximately $33,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Oracle in the 1st quarter valued at approximately $27,000. Inlight Wealth Management LLC acquired a new stake in shares of Oracle in the 1st quarter valued at approximately $28,000. Finally, Iron Horse Wealth Management LLC lifted its holdings 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 valued at $29,000 after buying an additional 151 shares during the period. Hedge funds and other institutional investors own 42.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus raised Oracle from a "hold" rating to a "buy" rating and raised their price target for the company from $180.00 to $250.00 in a report on Monday, June 30th. Citigroup raised Oracle from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 18th. Bank of America raised their price target on Oracle from $156.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. Oppenheimer reissued an "outperform" rating on shares of Oracle in a research report on Wednesday, June 18th. Finally, TD Cowen raised their price target on Oracle from $250.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Nine analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $218.29.

Oracle Stock Performance

ORCL stock traded up $2.22 during midday trading on Friday, reaching $245.05. The company had a trading volume of 7,146,126 shares, compared to its average volume of 13,472,494. 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 50 day moving average price of $204.42 and a 200 day moving average price of $171.65. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $251.60. The firm has a market capitalization of $688.31 billion, a PE ratio of 56.46, a P/E/G ratio of 3.66 and a beta of 1.39.

Oracle (NYSE:ORCL - Get Free Report) last issued its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The company had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. Oracle's quarterly revenue was up 11.3% compared to the same quarter last year. Analysts anticipate 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 paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.82%. Oracle's payout ratio is currently 46.08%.

Insider Buying and Selling at Oracle

In other news, Director Leon E. Panetta sold 17,500 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the completion of the transaction, the director directly owned 58,090 shares in the company, valued at approximately $8,785,531.60. The trade was a 23.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Clayton M. Magouyrk sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the transaction, the insider owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 448,669 shares of company stock valued at $85,555,309. 42.20% of the stock is currently owned by insiders.

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.