Convergence Investment Partners LLC Lowers Position in Oracle Co. (NYSE:ORCL)

Convergence Investment Partners LLC cut its holdings in Oracle Co. (NYSE:ORCL) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,976 shares of the enterprise software provider’s stock after selling 866 shares during the quarter. Convergence Investment Partners LLC’s holdings in Oracle were worth $1,157,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bison Wealth LLC lifted its stake in Oracle by 0.8% in the third quarter. Bison Wealth LLC now owns 12,089 shares of the enterprise software provider’s stock worth $1,280,000 after acquiring an additional 91 shares during the period. MONECO Advisors LLC lifted its position in shares of Oracle by 1.1% during the third quarter. MONECO Advisors LLC now owns 8,652 shares of the enterprise software provider’s stock valued at $916,000 after buying an additional 94 shares during the last quarter. Everhart Financial Group Inc. lifted its position in shares of Oracle by 1.4% during the fourth quarter. Everhart Financial Group Inc. now owns 7,163 shares of the enterprise software provider’s stock valued at $755,000 after buying an additional 96 shares during the last quarter. Nicholas Hoffman & Company LLC. lifted its position in shares of Oracle by 1.0% during the third quarter. Nicholas Hoffman & Company LLC. now owns 9,443 shares of the enterprise software provider’s stock valued at $1,000,000 after buying an additional 98 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in shares of Oracle by 0.5% during the third quarter. J.W. Cole Advisors Inc. now owns 21,290 shares of the enterprise software provider’s stock valued at $2,255,000 after buying an additional 100 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Oracle

In other Oracle news, CEO Safra Catz sold 790,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $126.54, for a total value of $99,966,600.00. Following the transaction, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $141,546,631.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 42.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

ORCL has been the topic of several recent analyst reports. KeyCorp initiated coverage on shares of Oracle in a report on Thursday, March 21st. They set an “overweight” rating and a $150.00 price objective on the stock. StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. HSBC increased their price target on shares of Oracle from $144.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Oppenheimer started coverage on shares of Oracle in a report on Thursday, April 18th. They issued a “market perform” rating on the stock. Finally, Piper Sandler lowered their price objective on Oracle from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 2nd. Ten analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $130.76.

Oracle Price Performance

Shares of NYSE:ORCL traded up $2.32 during midday trading on Friday, reaching $117.21. 8,355,111 shares of the company’s stock traded hands, compared to its average volume of 5,810,524. Oracle Co. has a 1 year low of $93.29 and a 1 year high of $132.77. The company has a market cap of $322.15 billion, a P/E ratio of 30.93, a PEG ratio of 2.35 and a beta of 1.01. The company has a debt-to-equity ratio of 13.34, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day simple moving average of $119.42 and a two-hundred day simple moving average of $113.13.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, March 11th. The enterprise software provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.04. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $13.29 billion. Oracle had a return on equity of 336.11% and a net margin of 20.27%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. Equities analysts predict that Oracle Co. will post 4.44 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were issued a $0.40 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.37%. Oracle’s payout ratio is currently 42.22%.

Oracle Company 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.