Oracle Co. (NYSE:ORCL) Shares Bought by SouthState Corp

SouthState Corp lifted its position in shares of Oracle Co. (NYSE:ORCL) by 4.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 163,282 shares of the enterprise software provider’s stock after buying an additional 6,479 shares during the quarter. Oracle accounts for approximately 1.9% of SouthState Corp’s holdings, making the stock its 10th largest position. SouthState Corp’s holdings in Oracle were worth $27,823,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Eagle Rock Investment Company LLC lifted its position in shares of 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 purchasing an additional 64 shares in the last quarter. W Advisors LLC increased its stake in Oracle by 3.1% during the third quarter. W Advisors LLC now owns 2,158 shares of the enterprise software provider’s stock valued at $368,000 after purchasing an additional 64 shares during the last quarter. Versant Capital Management Inc increased its stake 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 valued at $674,000 after purchasing an additional 65 shares during the last quarter. Oak Ridge Investments LLC increased its stake 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 valued at $295,000 after purchasing an additional 65 shares during the last quarter. Finally, Trust Point Inc. grew its position in shares of 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 acquiring an additional 66 shares during the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Oracle news, EVP Maria Smith sold 6,320 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 42,889 shares in the company, valued at $7,076,685. This trade represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 42.20% of the stock is currently owned by corporate insiders.

Oracle Price Performance

Shares of ORCL opened at $185.75 on Tuesday. The company has a market capitalization of $514.72 billion, a price-to-earnings ratio of 47.87, a P/E/G ratio of 3.39 and a beta of 1.02. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $191.77. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50-day moving average is $173.06 and its 200-day moving average is $147.56.

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

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. Oracle’s dividend payout ratio is currently 41.24%.

Analyst Upgrades and Downgrades

ORCL has been the subject of several recent research reports. Sanford C. Bernstein upped their price target on shares of Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Barclays increased their target price on shares of Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Melius Research upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Oppenheimer reissued a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Finally, Stifel Nicolaus upped their price target on shares of Oracle from $135.00 to $155.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Eleven equities 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $169.52.

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.