Public Sector Pension Investment Board Has $120.56 Million Holdings in Oracle Corporation (NYSE:ORCL)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Oracle Corporation by 2.3%, owning 862,297 shares valued at approximately $120.56 million.
• Oracle Corporation recently reported a quarterly earnings per share of $1.70, surpassing analysts' expectations and achieved a revenue of $15.90 billion.
• Numerous analysts have upgraded their price targets for Oracle, with Guggenheim setting a new target of $250 and Piper Sandler raising theirs to $270.

Public Sector Pension Investment Board increased its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 2.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 862,297 shares of the enterprise software provider's stock after purchasing an additional 19,210 shares during the period. Public Sector Pension Investment Board's holdings in Oracle were worth $120,558,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ORCL. Redmont Wealth Advisors LLC acquired a new position in shares of Oracle in 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. Iron Horse Wealth Management LLC boosted its position in 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 buying an additional 151 shares during the last quarter. Sunbeam Capital Management LLC bought a new position in Oracle in the 4th quarter valued at $30,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Oracle in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 42.44% of the company's stock.

Oracle Stock Up 0.3%

Shares of NYSE:ORCL opened at $250.04 on Monday. The company has a market capitalization of $702.32 billion, a PE ratio of 57.61, a price-to-earnings-growth ratio of 3.73 and a beta of 1.43. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $260.87. The company has a fifty day moving average of $222.64 and a 200-day moving average of $177.75. 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 (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. Oracle's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share. On average, equities 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 was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. Oracle's dividend payout ratio is currently 46.08%.

Analysts Set New Price Targets

ORCL has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $240.00 price target (up previously from $200.00) on shares of Oracle in a research note on Thursday, June 12th. Cowen reissued a "buy" rating on shares of Oracle in a research note on Thursday, June 12th. Guggenheim raised their price objective on Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Piper Sandler upgraded Oracle from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $190.00 to $270.00 in a report on Thursday, July 10th. Finally, Royal Bank Of Canada lifted their price target on Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a report on Thursday, June 12th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $222.75.

Insider Activity

In other news, EVP Maria Smith sold 10,000 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total transaction 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 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, insider Clayton M. Magouyrk sold 15,000 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the transaction, the insider owned 60,722 shares in the company, valued at $13,000,580.20. This represents a 19.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 444,183 shares of company stock valued at $86,521,198. 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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