Concentric Capital Strategies LP Cuts Position in Oracle Co. (NYSE:ORCL)

Concentric Capital Strategies LP reduced its stake in shares of Oracle Co. (NYSE:ORCL) by 54.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,445 shares of the enterprise software provider’s stock after selling 54,737 shares during the period. Concentric Capital Strategies LP’s holdings in Oracle were worth $7,914,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Fairway Wealth LLC purchased a new stake in shares of Oracle during the 2nd quarter worth approximately $27,000. POM Investment Strategies LLC purchased a new position in Oracle during the 2nd quarter valued at about $30,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Oracle in the second quarter valued at about $35,000. Quest Partners LLC acquired a new stake in shares of Oracle in the second quarter valued at approximately $40,000. Finally, Reston Wealth Management LLC purchased a new stake in Oracle in the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Stock Up 1.2 %

Shares of NYSE ORCL opened at $184.84 on Monday. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $196.04. The stock’s 50-day simple moving average is $177.45 and its 200-day simple moving average is $152.01. The firm has a market cap of $512.20 billion, a price-to-earnings ratio of 47.64, a PEG ratio of 3.41 and a beta of 1.02.

Oracle (NYSE:ORCL) last posted its quarterly earnings data 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. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same period in the previous year, the business earned $0.95 EPS. Oracle’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s dividend payout ratio is presently 41.24%.

Insider Buying and Selling

In related 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 transaction of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. This represents a 12.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 42.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of analyst reports. Royal Bank of Canada initiated coverage on Oracle in a report on Wednesday, October 23rd. They issued a “sector perform” rating and a $165.00 price target for the company. Citigroup boosted their target price on shares of Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Barclays upped their target price on shares of Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Stifel Nicolaus lifted their price target on shares of Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, JMP Securities raised their target price on shares of Oracle from $175.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Friday, October 18th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $169.52.

About Oracle

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.