Confluence Investment Management LLC Cuts Position in Oracle Co. (NYSE:ORCL)

Confluence Investment Management LLC reduced its stake in shares of Oracle Co. (NYSE:ORCL) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 574,303 shares of the enterprise software provider’s stock after selling 11,629 shares during the quarter. Oracle makes up 1.3% of Confluence Investment Management LLC’s holdings, making the stock its 28th largest position. Confluence Investment Management LLC’s holdings in Oracle were worth $97,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ORCL. GSA Capital Partners LLP acquired a new stake in shares of Oracle in the 1st quarter worth $920,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Oracle by 31.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 126,159 shares of the enterprise software provider’s stock worth $15,847,000 after acquiring an additional 29,963 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Oracle during the first quarter worth about $1,669,000. AIA Group Ltd acquired a new position in shares of Oracle during the first quarter valued at about $688,000. Finally, Empowered Funds LLC raised its position in shares of Oracle by 27.2% in the 1st quarter. Empowered Funds LLC now owns 70,733 shares of the enterprise software provider’s stock valued at $8,885,000 after purchasing an additional 15,134 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Insider Transactions at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 42.20% of the company’s stock.

Oracle Stock Performance

Shares of NYSE:ORCL opened at $186.32 on Friday. The business’s 50 day moving average price is $165.58 and its 200-day moving average price is $143.29. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $186.67. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $516.30 billion, a PE ratio of 48.02, a P/E/G ratio of 3.12 and a beta of 1.02.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The company had revenue of $13.31 billion for the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, equities research analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is 41.24%.

Analyst Ratings Changes

A number of brokerages have issued reports on ORCL. StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group restated a “market outperform” rating on shares of Oracle in a research note on Friday, October 18th. Sanford C. Bernstein boosted their price target on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Piper Sandler raised their price objective on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group increased their price target on shares of Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.52.

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.