Kayne Anderson Rudnick Investment Management LLC Has $38.39 Million Stock Holdings in Oracle Corporation $ORCL

Key Points

• Kayne Anderson Rudnick Investment Management LLC has reduced its holdings in Oracle Corporation by 14.5%, now owning 274,601 shares worth approximately $38.39 million.
• Several hedge funds have also adjusted their stakes in Oracle, with notable increases from Comerica Bank (1.7%) and ICONIQ Capital (4,612.9%).
• Oracle recently declared a quarterly dividend of $0.50, providing a 0.8% dividend yield, and has reported strong earnings with a revenue increase of 11.3% year-over-year.

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 14.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,601 shares of the enterprise software provider's stock after selling 46,689 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Oracle were worth $38,392,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Comerica Bank lifted its holdings in Oracle by 1.7% during the 1st quarter. Comerica Bank now owns 537,492 shares of the enterprise software provider's stock valued at $75,147,000 after purchasing an additional 8,907 shares during the last quarter. Synovus Financial Corp lifted its holdings in Oracle by 3.1% during the 1st quarter. Synovus Financial Corp now owns 170,112 shares of the enterprise software provider's stock valued at $23,783,000 after purchasing an additional 5,182 shares during the last quarter. Oak Harvest Investment Services lifted its holdings in Oracle by 8.4% during the 1st quarter. Oak Harvest Investment Services now owns 50,743 shares of the enterprise software provider's stock valued at $7,094,000 after purchasing an additional 3,915 shares during the last quarter. Independent Franchise Partners LLP lifted its holdings in Oracle by 1.5% during the 1st quarter. Independent Franchise Partners LLP now owns 4,198,933 shares of the enterprise software provider's stock valued at $587,053,000 after purchasing an additional 60,478 shares during the last quarter. Finally, ICONIQ Capital LLC lifted its holdings in Oracle by 4,612.9% during the 1st quarter. ICONIQ Capital LLC now owns 301,909 shares of the enterprise software provider's stock valued at $42,210,000 after purchasing an additional 295,503 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company's stock.

Insider Buying and Selling

In related news, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the transaction, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Naomi O. Seligman sold 3,303 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the transaction, the director owned 31,447 shares in the company, valued at $7,337,214.04. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 444,183 shares of company stock valued at $86,521,198 in the last ninety days. Insiders own 42.20% of the company's stock.

Oracle Stock Up 1.3%

Shares of NYSE ORCL opened at $236.1670 on Monday. 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 $260.87. The stock has a market capitalization of $663.35 billion, a P/E ratio of 54.42, a PEG ratio of 3.53 and a beta of 1.43. The stock's fifty day moving average is $235.36 and its 200 day moving average is $182.94.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter last year, the business earned $1.63 earnings per share. Oracle's revenue was up 11.3% on a year-over-year basis. Sell-side analysts forecast that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a $0.50 dividend. The ex-dividend date was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. Oracle's dividend payout ratio (DPR) is presently 46.08%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Oppenheimer reaffirmed an "outperform" rating on shares of Oracle in a report on Wednesday, June 18th. Morgan Stanley reissued an "overweight" rating on shares of Oracle in a report on Wednesday, June 18th. JPMorgan Chase & Co. lifted their target price on Oracle from $135.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Cowen reissued a "buy" rating on shares of Oracle in a report on Thursday, June 12th. Finally, Piper Sandler raised Oracle from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $190.00 to $270.00 in a report on Thursday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Oracle presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.04.

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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