Impax Asset Management Group plc Sells 1,032,002 Shares of Oracle Corporation (NYSE:ORCL)

Impax Asset Management Group plc reduced its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 51.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 990,041 shares of the enterprise software provider's stock after selling 1,032,002 shares during the quarter. Impax Asset Management Group plc's holdings in Oracle were worth $137,274,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Sunbeam Capital Management LLC bought a new stake in Oracle during the 4th quarter worth approximately $30,000. Hurley Capital LLC bought a new stake in Oracle during the 4th quarter worth approximately $33,000. Redmont Wealth Advisors LLC bought a new stake in Oracle during the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC bought a new stake in Oracle during the 1st quarter worth approximately $28,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Oracle during the 4th quarter worth approximately $36,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Oracle

In other news, Director Naomi O. Seligman sold 2,866 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were 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 of the company's stock, valued at approximately $4,749,670.92. This trade represents a 8.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leon E. Panetta sold 17,500 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 58,090 shares of the company's stock, valued at approximately $8,785,531.60. This represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 440,366 shares of company stock valued at $83,103,603. 42.20% of the stock is currently owned by company insiders.

Oracle Trading Up 3.2%

ORCL traded up $7.41 during trading on Friday, hitting $237.39. 18,441,376 shares of the stock traded hands, compared to its average volume of 10,159,668. The firm has a market capitalization of $666.79 billion, a P/E ratio of 54.70, a price-to-earnings-growth ratio of 3.55 and a beta of 1.39. 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 firm has a 50-day moving average of $178.14 and a 200 day moving average of $164.25. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $237.99.

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 the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 EPS. Equities research analysts anticipate that Oracle Corporation will post 5 EPS for the current year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be given a $0.50 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.84%. Oracle's dividend payout ratio is 46.08%.

Analysts Set New Price Targets

A number of analysts recently weighed in on ORCL shares. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Oracle in a report on Wednesday, June 18th. Royal Bank Of Canada increased their price target on shares of Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a report on Thursday, June 12th. KeyCorp increased their price target on shares of Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Barclays reissued an "overweight" rating and issued a $221.00 price target (up previously from $202.00) on shares of Oracle in a report on Friday, June 13th. Finally, CIBC reissued a "buy" rating on shares of Oracle in a report on Monday, June 9th. Ten research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $204.15.

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.