Cadence Bank Boosts Stake in Oracle Co. (NYSE:ORCL)

Cadence Bank increased its position in Oracle Co. (NYSE:ORCL) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,605 shares of the enterprise software provider’s stock after purchasing an additional 59 shares during the quarter. Cadence Bank’s holdings in Oracle were worth $1,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. PineStone Asset Management Inc. increased its position in Oracle by 131.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock valued at $552,262,000 after buying an additional 2,219,450 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Oracle by 16,023.4% in the third quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider’s stock worth $351,890,000 after acquiring an additional 2,052,275 shares during the last quarter. Altshuler Shaham Ltd increased its holdings in shares of Oracle by 5,853.1% during the second quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider’s stock valued at $219,224,000 after acquiring an additional 1,526,500 shares in the last quarter. Boston Partners raised its position in shares of Oracle by 32.3% in the 1st quarter. Boston Partners now owns 6,037,100 shares of the enterprise software provider’s stock worth $756,100,000 after purchasing an additional 1,473,734 shares during the last quarter. Finally, Swedbank AB boosted its stake in Oracle by 123.7% in the 2nd quarter. Swedbank AB now owns 2,645,920 shares of the enterprise software provider’s stock worth $373,604,000 after purchasing an additional 1,462,978 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors.

Insider Activity at Oracle

In related news, EVP Maria Smith sold 6,320 shares of the stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 42.20% of the stock is owned by corporate insiders.

Oracle Stock Performance

Shares of ORCL opened at $182.76 on Thursday. The business has a 50-day simple moving average of $176.80 and a two-hundred day simple moving average of $150.89. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $196.04. The stock has a market cap of $506.44 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 3.46 and a beta of 1.02.

Oracle (NYSE:ORCL) last released 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. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. During the same period in the prior year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that Oracle Co. will post 5 EPS for the current year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.88%. Oracle’s payout ratio is 41.24%.

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of analyst reports. JMP Securities raised their price objective on shares of Oracle from $175.00 to $205.00 and gave the company a “market outperform” rating in a research note on Friday, October 18th. Sanford C. Bernstein raised their price target on shares of Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Jefferies Financial Group upped their price objective on Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, September 16th. UBS Group reissued a “market outperform” rating on shares of Oracle in a report on Friday, October 18th. Finally, KeyCorp upped their price target on Oracle from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.