SouthState Corp Boosts Holdings in Oracle Co. (NYSE:ORCL)

SouthState Corp grew its position in shares of Oracle Co. (NYSE:ORCL) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,282 shares of the enterprise software provider’s stock after purchasing an additional 6,479 shares during the quarter. Oracle makes up 1.9% of SouthState Corp’s holdings, making the stock its 10th biggest holding. SouthState Corp’s holdings in Oracle were worth $27,823,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ORCL. Eagle Rock Investment Company LLC lifted its holdings in Oracle by 0.4% during the third quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock worth $3,003,000 after buying an additional 64 shares during the period. W Advisors LLC lifted its holdings in Oracle by 3.1% during the third quarter. W Advisors LLC now owns 2,158 shares of the enterprise software provider’s stock worth $368,000 after buying an additional 64 shares during the period. Versant Capital Management Inc lifted its holdings in Oracle by 1.7% during the third quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock worth $674,000 after buying an additional 65 shares during the period. Oak Ridge Investments LLC lifted its holdings in Oracle by 3.9% during the third quarter. Oak Ridge Investments LLC now owns 1,730 shares of the enterprise software provider’s stock worth $295,000 after buying an additional 65 shares during the period. Finally, Trust Point Inc. lifted its holdings in Oracle by 0.5% during the third quarter. Trust Point Inc. now owns 13,606 shares of the enterprise software provider’s stock worth $2,318,000 after buying an additional 66 shares during the period. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Trading Up 1.1 %

ORCL stock opened at $185.75 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The business’s 50-day moving average is $173.06 and its 200 day moving average is $147.56. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $191.77. The stock has a market cap of $514.72 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 3.39 and a beta of 1.02.

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

Oracle Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on ORCL shares. Citigroup upped their target price on Oracle from $140.00 to $157.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Jefferies Financial Group increased their price objective on Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday, September 16th. Barclays increased their price objective on Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Melius upgraded Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Monday, September 16th. Finally, Piper Sandler increased their price objective on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.52.

Insider Activity at Oracle

In other news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 owns 42,889 shares in the company, valued at approximately $7,076,685. This trade represents a 12.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 42.20% of the company’s stock.

Oracle 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.