Dock Street Asset Management Inc. Boosts Stake in Oracle Corporation (NYSE:ORCL)

Dock Street Asset Management Inc. grew its position in Oracle Corporation (NYSE:ORCL - Free Report) by 2.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 130,290 shares of the enterprise software provider's stock after buying an additional 2,953 shares during the period. Oracle makes up about 2.1% of Dock Street Asset Management Inc.'s investment portfolio, making the stock its 16th largest holding. Dock Street Asset Management Inc.'s holdings in Oracle were worth $18,216,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Greenwood Gearhart Inc. raised its position in shares of Oracle by 1.2% during the fourth quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider's stock worth $955,000 after acquiring an additional 66 shares during the last quarter. WorthPointe LLC raised its position in shares of Oracle by 4.0% during the fourth quarter. WorthPointe LLC now owns 1,734 shares of the enterprise software provider's stock worth $289,000 after acquiring an additional 67 shares during the last quarter. Stage Harbor Financial LLC raised its position in shares of Oracle by 5.0% during the fourth quarter. Stage Harbor Financial LLC now owns 1,433 shares of the enterprise software provider's stock worth $239,000 after acquiring an additional 68 shares during the last quarter. J. L. Bainbridge & Co. Inc. raised its position in shares of Oracle by 5.5% during the fourth quarter. J. L. Bainbridge & Co. Inc. now owns 1,354 shares of the enterprise software provider's stock worth $226,000 after acquiring an additional 70 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its holdings in Oracle by 0.6% in the fourth quarter. Prestige Wealth Management Group LLC now owns 11,288 shares of the enterprise software provider's stock valued at $1,881,000 after purchasing an additional 70 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Naomi O. Seligman sold 2,866 shares of Oracle stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the completion of the sale, the director directly owned 31,764 shares in the company, valued at $4,749,670.92. This trade represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of Oracle stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider owned 1,097,576 shares in the company, valued at $209,000,421.92. This trade represents a 26.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 445,366 shares of company stock valued at $84,784,653 in the last ninety days. Company insiders own 42.20% of the company's stock.

Oracle Stock Performance

Oracle stock traded up $6.29 during trading hours on Wednesday, reaching $241.25. 12,555,899 shares of the stock were exchanged, compared to its average volume of 10,304,773. The stock has a market cap of $677.64 billion, a P/E ratio of 55.59, a P/E/G ratio of 3.51 and a beta of 1.39. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $242.03. The firm's 50 day moving average is $190.49 and its 200 day moving average is $167.32.

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

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.83%. Oracle's payout ratio is presently 46.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Oppenheimer reiterated an "outperform" rating on shares of Oracle in a report on Wednesday, June 18th. CIBC reaffirmed a "buy" rating on shares of Oracle in a research report on Monday, June 9th. KeyCorp increased 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. Roth Capital reissued a "hold" rating on shares of Oracle in a research report on Wednesday, June 18th. Finally, JMP Securities set a $240.00 price objective on Oracle and gave the company a "market outperform" rating in a research note on Thursday, June 12th. Nine investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.37.

About Oracle

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.