Kayne Anderson Rudnick Investment Management LLC Has $11.90 Million Position in Oracle Corporation (ORCL)
Kayne Anderson Rudnick Investment Management LLC increased its holdings in Oracle Corporation (NYSE:ORCL) by 40.4% in the third quarter, HoldingsChannel.com reports. The firm owned 246,012 shares of the enterprise software provider’s stock after buying an additional 70,756 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Oracle were worth $11,895,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Hawaiian Bank raised its holdings in shares of Oracle by 3.6% during the second quarter. First Hawaiian Bank now owns 6,390 shares of the enterprise software provider’s stock valued at $321,000 after acquiring an additional 225 shares during the last quarter. Deane Retirement Strategies Inc. acquired a new position in shares of Oracle during the second quarter valued at approximately $1,762,000. Country Club Trust Company n.a. raised its holdings in shares of Oracle by 42.2% during the second quarter. Country Club Trust Company n.a. now owns 40,076 shares of the enterprise software provider’s stock valued at $2,009,000 after acquiring an additional 11,892 shares during the last quarter. City Holding Co. raised its holdings in shares of Oracle by 7.0% during the second quarter. City Holding Co. now owns 24,685 shares of the enterprise software provider’s stock valued at $1,237,000 after acquiring an additional 1,625 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its holdings in shares of Oracle by 26.9% during the second quarter. Koshinski Asset Management Inc. now owns 7,340 shares of the enterprise software provider’s stock valued at $368,000 after acquiring an additional 1,557 shares during the last quarter. 57.89% of the stock is owned by institutional investors.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $48.40, for a total value of $181,500.00. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at $877,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the transaction, the executive vice president now owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders sold 111,250 shares of company stock valued at $5,310,063 over the last quarter. 29.00% of the stock is currently owned by company insiders.
A number of brokerages have commented on ORCL. Vetr cut Oracle from a “buy” rating to a “hold” rating and set a $51.82 target price for the company. in a report on Wednesday. Morgan Stanley raised Oracle from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $46.63 to $47.71 in a report on Wednesday, January 3rd. Drexel Hamilton reissued a “buy” rating and set a $62.00 target price on shares of Oracle in a report on Tuesday, January 2nd. ValuEngine raised Oracle from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research cut Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $55.27.
Oracle Corporation (NYSE ORCL) opened at $50.27 on Thursday. The firm has a market capitalization of $209,800.00, a P/E ratio of 21.58, a P/E/G ratio of 1.89 and a beta of 1.05. Oracle Corporation has a 52-week low of $39.03 and a 52-week high of $53.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 earnings per share. analysts anticipate that Oracle Corporation will post 2.68 EPS for the current fiscal year.
Oracle declared that its board has approved a stock repurchase program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 annualized dividend and a yield of 1.51%. Oracle’s payout ratio is 32.62%.
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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