Logan Capital Management Inc. Sells 1,930 Shares of Oracle Co. (NYSE:ORCL)

Logan Capital Management Inc. reduced its holdings in shares of Oracle Co. (NYSE:ORCL) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 61,022 shares of the enterprise software provider’s stock after selling 1,930 shares during the quarter. Logan Capital Management Inc.’s holdings in Oracle were worth $10,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ORCL. Activest Wealth Management boosted its position in Oracle by 21.9% during the third quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock worth $53,000 after purchasing an additional 56 shares during the period. Second Line Capital LLC boosted its holdings in shares of Oracle by 1.5% during the 3rd quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock worth $650,000 after buying an additional 58 shares during the period. Cadence Bank grew its stake in Oracle by 0.8% in the 3rd quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock valued at $1,296,000 after buying an additional 59 shares during the last quarter. Eagle Rock Investment Company LLC raised its holdings in Oracle by 0.4% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock valued at $3,003,000 after acquiring an additional 64 shares during the period. Finally, W Advisors LLC lifted its position in Oracle by 3.1% during the third quarter. W Advisors LLC now owns 2,158 shares of the enterprise software provider’s stock worth $368,000 after acquiring an additional 64 shares during the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley upped their target price on Oracle from $145.00 to $175.00 and gave the company an “equal weight” rating in a research report on Tuesday. Sanford C. Bernstein lifted their target price on Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Barclays boosted their target price on shares of Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. KeyCorp raised their price target on shares of Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Piper Sandler increased their target price on shares of Oracle from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Tuesday. Twelve analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Oracle currently has an average rating of “Moderate Buy” and a consensus target price of $183.63.

Insider Buying and Selling at Oracle

In other news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction on Monday, September 16th. The shares were 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 owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 42.20% of the company’s stock.

Oracle Price Performance

Oracle stock traded down $1.41 during mid-day trading on Friday, reaching $173.91. The company had a trading volume of 947,182 shares, compared to its average volume of 8,370,146. The business has a fifty day simple moving average of $180.36 and a 200 day simple moving average of $155.36. The company has a market cap of $486.42 billion, a P/E ratio of 42.86, a P/E/G ratio of 3.32 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 5.65. Oracle Co. has a fifty-two week low of $99.36 and a fifty-two week high of $198.31.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $14.12 billion. During the same period in the previous year, the company earned $1.34 EPS. Oracle’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts predict that Oracle Co. will post 5.17 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, January 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.60 annualized dividend and a yield of 0.92%. Oracle’s dividend payout ratio is presently 39.12%.

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.