NJ State Employees Deferred Compensation Plan Has $5.66 Million Stake in Oracle Corporation (NYSE:ORCL)

Key Points

• NJ State Employees Deferred Compensation Plan reduced its stake in Oracle Corporation by 8.0%, holding 40,500 shares valued at approximately $5.66 million, making it the fund's 20th largest position.
• Oracle's recent earnings report exceeded analysts' estimates, with earnings per share of $1.70 and revenues of $15.90 billion, reflecting an 11.3% year-over-year growth.
• The company declared a quarterly dividend of $0.50, resulting in a yield of 0.8%, with a payout ratio of 46.08% currently.

NJ State Employees Deferred Compensation Plan cut its position in Oracle Corporation (NYSE:ORCL - Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,500 shares of the enterprise software provider's stock after selling 3,500 shares during the quarter. Oracle makes up about 0.7% of NJ State Employees Deferred Compensation Plan's holdings, making the stock its 20th biggest position. NJ State Employees Deferred Compensation Plan's holdings in Oracle were worth $5,662,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ORCL. Redmont Wealth Advisors LLC bought a new stake in shares of Oracle during the first quarter worth approximately $27,000. Inlight Wealth Management LLC bought a new stake in shares of Oracle during the first quarter worth $28,000. Iron Horse Wealth Management LLC raised its stake 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 purchasing an additional 151 shares during the period. Sunbeam Capital Management LLC acquired a new position in Oracle during the 4th quarter worth approximately $30,000. Finally, Hurley Capital LLC bought a new stake in Oracle during the 4th quarter worth about $33,000. Institutional investors own 42.44% of the company's stock.

Oracle Stock Down 3.7%

NYSE ORCL opened at $244.44 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $260.87. The stock's 50 day moving average is $213.55 and its 200 day moving average is $174.85. The stock has a market cap of $686.59 billion, a PE ratio of 56.32, a P/E/G ratio of 3.65 and a beta of 1.43.

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

Oracle Dividend Announcement

The firm 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. This represents a $2.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, July 10th. Oracle's payout ratio is currently 46.08%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ORCL. Evercore ISI lifted their price objective on shares of Oracle from $215.00 to $270.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Scotiabank assumed coverage on shares of Oracle in a report on Thursday, July 17th. They set a "sector outperform" rating and a $300.00 price target on the stock. BMO Capital Markets boosted their price objective on Oracle from $235.00 to $245.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Roth Capital reissued a "hold" rating on shares of Oracle in a research note on Wednesday, June 18th. Finally, Royal Bank Of Canada upped their price objective on Oracle from $145.00 to $195.00 and gave the company a "sector perform" rating in a research note on Thursday, June 12th. 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $218.29.

Insider Buying and Selling

In other Oracle news, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the transaction, the executive vice president directly owned 40,807 shares of the company's stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Naomi O. Seligman sold 3,303 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 31,447 shares in the company, valued at $7,337,214.04. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 431,169 shares of company stock valued at $82,908,609 in the last three months. Corporate insiders own 42.20% of the company's stock.

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.

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