Strategic Financial Services Inc. Lowers Stock Holdings in Oracle Corporation $ORCL

Key Points

• Strategic Financial Services Inc. reduced its stake in Oracle Corporation by 4.2% in Q1, holding 27,335 shares worth approximately $3.82 million.
• Oracle recently reported a 36% increase in stock value, with earnings per share (EPS) of $1.70 surpassing estimates and revenue growth of 11.3% year-over-year.
• The company declared a quarterly dividend of $0.50, with a 0.6% yield and a payout ratio of 46.08%, payable on October 23rd to investors of record on October 9th.

Strategic Financial Services Inc. cut its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,335 shares of the enterprise software provider's stock after selling 1,202 shares during the quarter. Oracle comprises approximately 0.2% of Strategic Financial Services Inc.'s investment portfolio, making the stock its 29th biggest position. Strategic Financial Services Inc.'s holdings in Oracle were worth $3,822,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new position in shares of Oracle during the 1st quarter worth $27,000. Inlight Wealth Management LLC purchased a new position in shares of Oracle during the 1st quarter worth $28,000. Iron Horse Wealth Management LLC grew its holdings in shares of Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after purchasing an additional 151 shares during the period. Sunbeam Capital Management LLC purchased a new position in shares of Oracle during the 4th quarter worth $30,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Oracle during the 4th quarter valued at about $36,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Oracle

In other Oracle news, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the transaction, the insider owned 99,212 shares of the company's stock, valued at $25,247,469.76. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction that occurred on Wednesday, July 16th. The shares were 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. This trade represents 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 44,183 shares of company stock valued at $10,353,198 over the last 90 days. 42.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ORCL shares. Evercore ISI increased their price target on Oracle from $270.00 to $340.00 and gave the company an "outperform" rating in a research report on Wednesday. TD Cowen increased their price target on Oracle from $325.00 to $375.00 and gave the company a "buy" rating in a research report on Wednesday. Loop Capital set a $135.00 price target on Oracle in a research report on Tuesday, June 10th. BMO Capital Markets set a $345.00 price target on Oracle in a research report on Wednesday. Finally, Morgan Stanley increased their price target on Oracle from $175.00 to $246.00 and gave the company an "equal weight" rating in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $296.84.

Oracle Stock Performance

ORCL traded down $15.79 during trading on Friday, hitting $292.07. 51,618,969 shares of the stock were exchanged, compared to its average volume of 20,941,788. The firm has a market capitalization of $820.38 billion, a P/E ratio of 67.61, a PEG ratio of 4.10 and a beta of 1.46. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $345.72. The stock has a fifty day moving average price of $244.69 and a two-hundred day moving average price of $190.50. The company has a quick ratio of 0.75, a current ratio of 0.62 and a debt-to-equity ratio of 3.33.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 72.93% and a net margin of 21.08%.The firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. As a group, sell-side analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $2.00 annualized dividend and a yield of 0.7%. Oracle's payout ratio is 46.30%.

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.