24,418 Shares in Oracle Co. (NYSE:ORCL) Purchased by Chase Investment Counsel Corp

Chase Investment Counsel Corp bought a new stake in Oracle Co. (NYSE:ORCL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 24,418 shares of the enterprise software provider’s stock, valued at approximately $4,160,000.

Several other hedge funds have also made changes to their positions in the company. Souders Financial Advisors purchased a new stake in Oracle in the 3rd quarter valued at about $213,000. Carrera Capital Advisors purchased a new position in Oracle during the 3rd quarter valued at about $276,000. Victory Capital Management Inc. grew its position in Oracle by 44.5% in the 3rd quarter. Victory Capital Management Inc. now owns 823,546 shares of the enterprise software provider’s stock valued at $140,332,000 after acquiring an additional 253,566 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in Oracle by 9.5% during the third quarter. Aptus Capital Advisors LLC now owns 21,012 shares of the enterprise software provider’s stock worth $3,580,000 after purchasing an additional 1,816 shares during the period. Finally, Cumberland Partners Ltd acquired a new stake in Oracle during the 3rd quarter worth approximately $1,380,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Price Performance

Shares of ORCL opened at $189.60 on Wednesday. The firm has a market capitalization of $525.39 billion, a PE ratio of 48.87, a P/E/G ratio of 3.49 and a beta of 1.02. The stock’s 50 day moving average is $169.43 and its two-hundred day moving average is $145.54. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $191.50. 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 (NYSE:ORCL) last released its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter in the prior year, the business posted $0.95 earnings per share. Oracle’s revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that Oracle Co. will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s dividend payout ratio is currently 41.24%.

Insider Activity at Oracle

In related news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 42.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JMP Securities upped their price target on Oracle from $175.00 to $205.00 and gave the stock a “market outperform” rating in a report on Friday, October 18th. Jefferies Financial Group lifted their price target on shares of Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Royal Bank of Canada initiated coverage on shares of Oracle in a research report on Wednesday, October 23rd. They issued a “sector perform” rating and a $165.00 price objective on the stock. KeyCorp lifted their price objective on shares of Oracle from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Finally, Melius Research raised Oracle from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.52.

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.