Oracle Co. (NYSE:ORCL) is Spring Capital Management LLC’s 2nd Largest Position

Spring Capital Management LLC reduced its position in Oracle Co. (NYSE:ORCL) by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,834 shares of the enterprise software provider’s stock after selling 1,875 shares during the quarter. Oracle accounts for about 7.7% of Spring Capital Management LLC’s holdings, making the stock its 2nd largest holding. Spring Capital Management LLC’s holdings in Oracle were worth $10,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairway Wealth LLC purchased a new stake in Oracle during the 2nd quarter valued at about $27,000. POM Investment Strategies LLC purchased a new stake in Oracle during the 2nd quarter valued at about $30,000. Bbjs Financial Advisors LLC purchased a new stake in Oracle during the 2nd quarter valued at about $35,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in Oracle during the 1st quarter valued at about $38,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Oracle during the 1st quarter valued at about $40,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Stock Performance

Shares of ORCL stock traded down $0.27 on Wednesday, reaching $175.04. The stock had a trading volume of 617,385 shares, compared to its average volume of 8,386,996. The stock has a market cap of $485.05 billion, a P/E ratio of 45.19, a price-to-earnings-growth ratio of 3.22 and a beta of 1.01. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $178.61. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The company has a 50 day simple moving average of $157.93 and a 200 day simple moving average of $139.38.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The firm had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. Equities research analysts expect 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 given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.91%. Oracle’s dividend payout ratio (DPR) is presently 41.24%.

Analyst Upgrades and Downgrades

ORCL has been the subject of several analyst reports. Oppenheimer restated a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Guggenheim upped their price target on Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Sanford C. Bernstein upped their price target on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. JMP Securities increased their target price on Oracle from $175.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Friday, October 18th. Finally, KeyCorp increased their target price on Oracle from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and a consensus target price of $168.52.

Insider Activity at Oracle

In related news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 42.20% of the stock is owned by company insiders.

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.