Wedge Capital Management L L P NC Sells 83 Shares of Oracle Co. (NYSE:ORCL)

Wedge Capital Management L L P NC cut its stake in Oracle Co. (NYSE:ORCL) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,857 shares of the enterprise software provider’s stock after selling 83 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Oracle were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ORCL. Fairway Wealth LLC acquired a new position in Oracle in the 2nd quarter valued at $27,000. Westend Capital Management LLC acquired a new position in shares of Oracle in the first quarter valued at about $25,000. POM Investment Strategies LLC bought a new position in Oracle during the second quarter worth about $30,000. Bbjs Financial Advisors LLC acquired a new stake in Oracle in the 2nd quarter worth about $35,000. Finally, Quest Partners LLC acquired a new stake in Oracle in the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Trading Up 0.5 %

Shares of NYSE ORCL opened at $175.63 on Friday. The stock has a market cap of $484.01 billion, a P/E ratio of 47.34, a price-to-earnings-growth ratio of 3.29 and a beta of 1.01. The firm has a 50 day moving average price of $155.43 and a two-hundred day moving average price of $138.15. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $178.61.

Oracle (NYSE:ORCL) last announced 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 return on equity of 171.38% and a net margin of 20.40%. The business had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. During the same period last year, the company earned $0.95 EPS. Oracle’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Oracle Co. will post 5 EPS for the current year.

Oracle Announces Dividend

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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 10th. Oracle’s payout ratio is presently 43.13%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ORCL shares. DA Davidson raised their target price on shares of Oracle from $105.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Melius raised 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. Barclays increased their target price on Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. KeyCorp boosted their price target on Oracle from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Finally, Morgan Stanley increased their price objective on shares of Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.42.

Insider Buying and Selling at Oracle

In other news, EVP Maria Smith sold 6,320 shares of the company’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 sale, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 42.80% of the company’s stock.

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.