Burns J W & Co. Inc. NY Cuts Position in Oracle Co. (NYSE:ORCL)

Burns J W & Co. Inc. NY cut its stake in Oracle Co. (NYSE:ORCL) by 1.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,312 shares of the enterprise software provider’s stock after selling 633 shares during the period. Burns J W & Co. Inc. NY’s holdings in Oracle were worth $2,053,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Longview Partners Guernsey LTD boosted its holdings in shares of Oracle by 16.9% during the second quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock worth $1,267,227,000 after purchasing an additional 3,220,296 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Oracle by 1.7% during the first quarter. Clearbridge Investments LLC now owns 20,778,045 shares of the enterprise software provider’s stock worth $1,115,989,000 after purchasing an additional 345,982 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Oracle by 3.8% during the second quarter. Fisher Asset Management LLC now owns 15,567,402 shares of the enterprise software provider’s stock worth $886,875,000 after purchasing an additional 562,921 shares during the period. Polen Capital Management LLC boosted its holdings in shares of Oracle by 3.1% during the second quarter. Polen Capital Management LLC now owns 14,444,171 shares of the enterprise software provider’s stock worth $822,884,000 after purchasing an additional 430,254 shares during the period. Finally, Boston Partners boosted its holdings in shares of Oracle by 5.0% during the first quarter. Boston Partners now owns 13,088,162 shares of the enterprise software provider’s stock worth $702,965,000 after purchasing an additional 626,663 shares during the period. Institutional investors own 53.74% of the company’s stock.

A number of analysts have recently weighed in on ORCL shares. BMO Capital Markets increased their target price on shares of Oracle from $60.00 to $62.00 and gave the stock a “market perform” rating in a report on Friday, September 27th. They noted that the move was a valuation call. Monness Crespi & Hardt reissued a “hold” rating on shares of Oracle in a research note on Tuesday, September 10th. Credit Suisse Group set a $62.00 price target on shares of Oracle and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Argus reissued a “buy” rating on shares of Oracle in a research note on Friday, September 13th. Finally, Jefferies Financial Group downgraded shares of Oracle from a “buy” rating to a “hold” rating and decreased their price target for the stock from $66.00 to $60.00 in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company. Oracle presently has an average rating of “Hold” and an average price target of $56.38.

In other news, CEO Mark V. Hurd sold 787,500 shares of Oracle stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $51.80, for a total transaction of $40,792,500.00. Following the transaction, the chief executive officer now owns 1,038,755 shares in the company, valued at approximately $53,807,509. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hector Garcia-Molina sold 4,643 shares of Oracle stock in a transaction on Monday, September 16th. The stock was sold at an average price of $53.14, for a total transaction of $246,729.02. Following the transaction, the director now owns 38,562 shares in the company, valued at approximately $2,049,184.68. The disclosure for this sale can be found here. Insiders sold 845,143 shares of company stock worth $43,950,409 in the last 90 days. 36.60% of the stock is currently owned by corporate insiders.

Shares of NYSE:ORCL traded up $1.32 during trading on Friday, reaching $56.81. 574,815 shares of the stock traded hands, compared to its average volume of 17,098,688. The stock has a 50-day moving average of $53.45 and a two-hundred day moving average of $54.62. Oracle Co. has a 52-week low of $42.40 and a 52-week high of $60.50. The company has a debt-to-equity ratio of 2.67, a quick ratio of 2.25 and a current ratio of 2.25. The stock has a market cap of $177.42 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The firm had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts expect that Oracle Co. will post 3.47 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Wednesday, October 9th. Oracle’s dividend payout ratio is currently 30.38%.

Oracle declared that its Board of Directors has authorized a stock buyback program on Wednesday, September 11th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to reacquire up to 8.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

About Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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