Oracle Co. (NYSE:ORCL) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Oracle Co. (NYSE:ORCL) by 91.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 20,035 shares of the enterprise software provider’s stock after selling 226,356 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Oracle were worth $3,414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Eagle Rock Investment Company LLC boosted its position in shares of Oracle by 0.4% in 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 buying an additional 64 shares during the period. W Advisors LLC lifted its position in Oracle by 3.1% during the 3rd quarter. W Advisors LLC now owns 2,158 shares of the enterprise software provider’s stock worth $368,000 after acquiring an additional 64 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Oracle by 1.7% in the 3rd quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock worth $674,000 after acquiring an additional 65 shares during the period. Oak Ridge Investments LLC grew its position in Oracle by 3.9% in the third quarter. Oak Ridge Investments LLC now owns 1,730 shares of the enterprise software provider’s stock valued at $295,000 after acquiring an additional 65 shares in the last quarter. Finally, Trust Point Inc. raised its stake 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 valued at $2,318,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Price Performance

Shares of NYSE:ORCL opened at $192.29 on Monday. The firm’s 50 day moving average is $175.62 and its two-hundred day moving average is $149.64. The firm has a market capitalization of $532.85 billion, a P/E ratio of 49.56, a PEG ratio of 3.55 and a beta of 1.02. The company has a current ratio of 0.72, a quick 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.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating 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 firm had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts anticipate that Oracle Co. will post 5 earnings per share for the current year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s dividend payout ratio is currently 41.24%.

Insider Activity

In other news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value 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 $7,076,685. This represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 42.20% of the company’s stock.

Wall Street Analyst Weigh In

ORCL has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. DA Davidson raised their target price on Oracle from $105.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Royal Bank of Canada began coverage on Oracle in a research note on Wednesday, October 23rd. They issued a “sector perform” rating and a $165.00 price target on the stock. Mizuho raised their price objective on Oracle from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Guggenheim upped their target price on Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and an average 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.