Kayne Anderson Rudnick Investment Management LLC Has $41.18 Million Stock Position in Oracle Co. (NYSE:ORCL)

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of Oracle Co. (NYSE:ORCL) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 291,630 shares of the enterprise software provider’s stock after selling 4,953 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Oracle were worth $41,178,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westend Capital Management LLC acquired a new stake in shares of Oracle during the 1st quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in Oracle in the second quarter valued at about $27,000. Tidemark LLC acquired a new position in Oracle in the fourth quarter worth about $29,000. Frank Rimerman Advisors LLC acquired a new stake in Oracle during the fourth quarter valued at approximately $30,000. Finally, POM Investment Strategies LLC bought a new stake in shares of Oracle in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Stock Up 0.2 %

Shares of NYSE ORCL opened at $168.00 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The firm has a market capitalization of $465.52 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The firm’s 50-day moving average is $142.30 and its 200-day moving average is $131.96. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $173.99.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts expect that Oracle Co. will post 5.01 EPS for the current year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be paid a $0.40 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ORCL shares. TD Cowen increased their target price on Oracle from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Oppenheimer reissued a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Melius raised shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Monday, September 16th. Finally, Morgan Stanley upped 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $166.13.

Insider Activity at Oracle

In related news, insider Edward Screven sold 426,861 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $141.91, for a total transaction of $60,575,844.51. Following the completion of the transaction, the insider now owns 2,626,764 shares in the company, valued at $372,764,079.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the sale, the chairman now owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Edward Screven sold 426,861 shares of Oracle stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $141.91, for a total value of $60,575,844.51. Following the transaction, the insider now owns 2,626,764 shares in the company, valued at approximately $372,764,079.24. The disclosure for this sale can be found here. Insiders have sold 1,610,402 shares of company stock worth $230,556,257 in the last ninety days. Company insiders own 42.80% of the company’s stock.

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.