10,650 Shares in Oracle Corporation (NYSE:ORCL) Bought by Hudson Canyon Capital Management

Key Points

• Hudson Canyon Capital Management acquired 10,650 shares of Oracle Corporation, valued at approximately $1.49 million, as part of its new position in the company during the first quarter.
• Oracle reported earnings of $1.70 per share for the latest quarter, which exceeded analyst expectations, contributing to a revenue increase of 11.3% year-over-year.
• Several analysts have raised their price targets for Oracle shares, with Deutsche Bank setting a new target of $240 and TD Cowen going up to $325, reflecting overall positive sentiment towards the company's stock.

Hudson Canyon Capital Management purchased a new position in shares of Oracle Corporation (NYSE:ORCL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,650 shares of the enterprise software provider's stock, valued at approximately $1,489,000.

A number of other large investors have also made changes to their positions in ORCL. Brighton Jones LLC raised its stake in shares of Oracle by 189.3% during the 4th quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider's stock worth $25,593,000 after buying an additional 100,494 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Oracle by 8.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider's stock worth $903,000 after acquiring an additional 404 shares during the last quarter. F M Investments LLC lifted its holdings in shares of Oracle by 50.6% in the fourth quarter. F M Investments LLC now owns 37,458 shares of the enterprise software provider's stock valued at $6,242,000 after purchasing an additional 12,589 shares in the last quarter. Scotia Capital Inc. grew its position in shares of Oracle by 17.0% in the fourth quarter. Scotia Capital Inc. now owns 260,001 shares of the enterprise software provider's stock valued at $43,333,000 after purchasing an additional 37,854 shares during the last quarter. Finally, Redwood Park Advisors LLC purchased a new position in shares of Oracle during the 4th quarter worth approximately $86,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Insider Transactions at Oracle

In other Oracle news, insider Clayton M. Magouyrk sold 15,000 shares of the company's stock in a transaction dated 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 directly owned 60,722 shares of the company's stock, valued at $13,000,580.20. This represents a 19.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rona Alison Fairhead acquired 480 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were acquired at an average cost of $233.87 per share, for a total transaction of $112,257.60. Following the transaction, the director owned 22,110 shares of the company's stock, 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 90 days, insiders sold 444,183 shares of company stock worth $86,521,198. 42.20% of the stock is currently owned by company insiders.

Oracle Price Performance

Shares of NYSE ORCL traded up $0.65 during mid-day trading on Friday, reaching $250.04. The company had a trading volume of 8,301,832 shares, compared to its average volume of 10,356,510. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $260.87. The stock has a market cap of $702.32 billion, a PE ratio of 57.61, a P/E/G ratio of 3.72 and a beta of 1.43. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The company has a 50-day moving average price of $222.64 and a two-hundred day moving average price of $177.85.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) 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 business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The firm's revenue was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's dividend payout ratio is currently 46.08%.

Wall Street Analysts Forecast Growth

ORCL has been the topic of a number of recent research reports. JMP Securities upped their target price on Oracle from $240.00 to $315.00 and gave the company a "market outperform" rating in a research note on Friday, July 18th. Cowen restated a "buy" rating on shares of Oracle in a research report on Thursday, June 12th. Royal Bank Of Canada lifted their price objective on Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 12th. Mizuho lowered their price target on shares of Oracle from $210.00 to $180.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, BMO Capital Markets boosted their price objective 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. Nine investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Oracle currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.75.

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.