Everence Capital Management Inc. Acquires New Position in Oracle Co. (NYSE:ORCL)


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Everence Capital Management Inc. acquired a new stake in shares of Oracle Co. (NYSE:ORCL) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 49,172 shares of the enterprise software provider’s stock, valued at approximately $3,450,000.

A number of other hedge funds have also recently made changes to their positions in ORCL. Johnson Midwest Financial LLC bought a new position in Oracle during the 4th quarter valued at about $26,000. RWM Asset Management LLC bought a new position in Oracle during the 4th quarter valued at about $30,000. Oder Investment Management LLC bought a new position in Oracle during the 4th quarter valued at about $31,000. Cowa LLC bought a new position in Oracle during the 4th quarter valued at about $30,000. Finally, Kathmere Capital Management LLC bought a new position in shares of Oracle in the 3rd quarter worth approximately $31,000. 47.54% of the stock is currently owned by institutional investors.

In other news, Director Rona Alison Fairhead acquired 2,530 shares of the firm’s stock in a transaction that occurred on Tuesday, March 16th. The stock was purchased at an average cost of $68.00 per share, for a total transaction of $172,040.00. Following the completion of the acquisition, the director now directly owns 8,450 shares of the company’s stock, valued at approximately $574,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Safra Catz sold 1,150,000 shares of Oracle stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $66.31, for a total value of $76,256,500.00. Following the completion of the sale, the chief executive officer now owns 2,218,592 shares of the company’s stock, valued at $147,114,835.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,763,000 shares of company stock valued at $251,378,960. Corporate insiders own 39.10% of the company’s stock.

Shares of NYSE:ORCL traded up $1.22 on Thursday, hitting $75.29. 406,275 shares of the company’s stock were exchanged, compared to its average volume of 12,720,444. Oracle Co. has a 12 month low of $50.86 and a 12 month high of $74.89. The stock has a market capitalization of $217.10 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.79 and a beta of 0.76. The business’s 50 day simple moving average is $67.54 and its two-hundred day simple moving average is $62.24. The company has a debt-to-equity ratio of 7.37, a current ratio of 2.17 and a quick ratio of 2.17.

Oracle (NYSE:ORCL) last released its earnings results on Tuesday, March 9th. The enterprise software provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.05. Oracle had a return on equity of 101.26% and a net margin of 26.34%. The business had revenue of $10.09 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same period last year, the company earned $0.97 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts forecast that Oracle Co. will post 3.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 22nd. Stockholders of record on Thursday, April 8th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.70%. This is an increase from Oracle’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Wednesday, April 7th. Oracle’s dividend payout ratio (DPR) is 27.75%.

Several equities analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Oracle in a research note on Wednesday, December 16th. They issued a “neutral” rating and a $68.00 price objective on the stock. Citigroup assumed coverage on shares of Oracle in a research note on Wednesday, March 3rd. They issued a “neutral” rating and a $65.00 price objective on the stock. Wedbush assumed coverage on shares of Oracle in a research note on Wednesday, March 31st. They set a “neutral” rating and a $54.00 target price on the stock. Cowen raised their target price on shares of Oracle from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, March 8th. Finally, Piper Sandler raised their target price on shares of Oracle from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, December 11th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the company. Oracle currently has a consensus rating of “Hold” and a consensus price target of $70.04.

Oracle Profile

Oracle Corporation provides products and services that address enterprise information technology environments worldwide. The company's cloud and license business engages in the sale, marketing, and delivery of its applications and infrastructure technologies through cloud and on-premise deployment models, including cloud services and license support; and cloud license and on-premise license.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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