Oracle Corporation $ORCL Stock Position Raised by Cim Investment Management Inc.

Cim Investment Management Inc. boosted its holdings in Oracle Corporation (NYSE:ORCL) by 99.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,201 shares of the enterprise software provider’s stock after acquiring an additional 8,085 shares during the period. Oracle comprises about 0.7% of Cim Investment Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Cim Investment Management Inc.’s holdings in Oracle were worth $3,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ORCL. Winnow Wealth LLC bought a new stake in shares of Oracle in the 2nd quarter worth approximately $28,000. Kilter Group LLC acquired a new stake in Oracle in the second quarter worth $30,000. LGT Financial Advisors LLC bought a new stake in Oracle in the second quarter valued at $33,000. Legend Financial Advisors Inc. acquired a new position in shares of Oracle during the second quarter valued at $34,000. Finally, HighMark Wealth Management LLC bought a new position in shares of Oracle during the second quarter worth about $38,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ORCL has been the topic of several recent research reports. Morgan Stanley lifted their price objective on shares of Oracle from $246.00 to $320.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 23rd. Royal Bank Of Canada dropped their price target on shares of Oracle from $310.00 to $250.00 and set a “sector perform” rating on the stock in a research note on Thursday. Wells Fargo & Company initiated coverage on Oracle in a report on Wednesday, December 3rd. They set an “overweight” rating and a $280.00 price target on the stock. Berenberg Bank increased their price objective on Oracle from $202.00 to $306.00 and gave the stock a “hold” rating in a report on Monday, September 15th. Finally, TD Cowen lowered their target price on Oracle from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Oracle has an average rating of “Moderate Buy” and a consensus target price of $301.57.

Oracle Stock Performance

ORCL opened at $189.64 on Monday. The business has a 50 day moving average price of $245.58 and a two-hundred day moving average price of $241.93. The company has a debt-to-equity ratio of 3.28, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $544.86 billion, a price-to-earnings ratio of 35.65, a price-to-earnings-growth ratio of 1.82 and a beta of 1.66. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $345.72.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, December 10th. The enterprise software provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.62. Oracle had a return on equity of 70.60% and a net margin of 25.28%.The company had revenue of $16.06 billion for the quarter, compared to analysts’ expectations of $16.19 billion. During the same period last year, the firm earned $1.47 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Research analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 9th will be given a $0.50 dividend. The ex-dividend date is Friday, January 9th. This represents a $2.00 annualized dividend and a yield of 1.1%. Oracle’s payout ratio is 37.59%.

Insider Buying and Selling

In other news, Director Jeffrey Berg sold 49,365 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $283.02, for a total transaction of $13,971,282.30. Following the completion of the transaction, the director owned 151,999 shares in the company, valued at approximately $43,018,756.98. This trade represents a 24.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Maria Smith sold 5,000 shares of Oracle stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $280.62, for a total transaction of $1,403,100.00. Following the completion of the transaction, the executive vice president directly owned 47,083 shares in the company, valued at $13,212,431.46. This represents a 9.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 171,513 shares of company stock worth $50,397,893 in the last ninety days. Insiders own 40.90% of the company’s stock.

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.