Kayne Anderson Rudnick Investment Management LLC Buys 70,756 Shares of Oracle Corporation (ORCL)

Kayne Anderson Rudnick Investment Management LLC lifted its stake in Oracle Corporation (NYSE:ORCL) by 40.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 246,012 shares of the enterprise software provider’s stock after acquiring an additional 70,756 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Oracle were worth $11,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ORCL. Acrospire Investment Management LLC grew its stake in Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after buying an additional 1,800 shares during the last quarter. Burt Wealth Advisors grew its stake in Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after buying an additional 88 shares during the last quarter. IHT Wealth Management LLC grew its stake in Oracle by 65.9% during the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after buying an additional 947 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Oracle during the 2nd quarter worth $129,000. Finally, ETF Managers Group LLC purchased a new position in Oracle during the 2nd quarter worth $133,000. 57.89% of the stock is owned by hedge funds and other institutional investors.

ORCL has been the topic of several research analyst reports. Canaccord Genuity initiated coverage on Oracle in a research note on Friday, October 6th. They set a “buy” rating and a $57.00 target price on the stock. Wedbush restated a “buy” rating and set a $58.00 target price on shares of Oracle in a research note on Friday, December 15th. Vetr downgraded Oracle from a “buy” rating to a “hold” rating and set a $51.82 target price on the stock. in a research note on Wednesday. JPMorgan Chase & Co. set a $55.00 target price on Oracle and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, BidaskClub upgraded Oracle from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $55.27.

In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total value of $183,112.50. Following the sale, the director now owns 18,125 shares in the company, valued at $885,043.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the sale, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The disclosure for this sale can be found here. Insiders sold 111,250 shares of company stock worth $5,310,063 in the last 90 days. Company insiders own 29.00% of the company’s stock.

Shares of Oracle Corporation (ORCL) opened at $50.27 on Thursday. Oracle Corporation has a one year low of $39.03 and a one year high of $53.14. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $209,800.00, a PE ratio of 21.58, a PEG ratio of 1.89 and a beta of 1.05.

Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. research analysts expect that Oracle Corporation will post 2.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.51%. Oracle’s payout ratio is 32.62%.

Oracle declared that its board has authorized a share repurchase program on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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About Oracle

Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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