Envestnet Asset Management Inc. Acquires 386,279 Shares of Oracle Co. (NYSE:ORCL)

Envestnet Asset Management Inc. grew its holdings in shares of Oracle Co. (NYSE:ORCL) by 12.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,591,830 shares of the enterprise software provider’s stock after buying an additional 386,279 shares during the period. Envestnet Asset Management Inc.’s holdings in Oracle were worth $507,166,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ORCL. Norges Bank purchased a new position in Oracle during the 4th quarter valued at $1,210,181,000. Janus Henderson Group PLC increased its position in shares of Oracle by 148.8% during the first quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after buying an additional 7,699,141 shares during the period. Capital World Investors raised its stake in Oracle by 22.1% in the fourth quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock worth $1,938,242,000 after buying an additional 3,323,334 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in Oracle by 131.2% in the second quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock worth $552,262,000 after buying an additional 2,219,450 shares during the period. Finally, Parnassus Investments LLC boosted its position in Oracle by 17.7% during the 4th quarter. Parnassus Investments LLC now owns 14,599,902 shares of the enterprise software provider’s stock valued at $1,539,268,000 after acquiring an additional 2,191,342 shares in the last quarter. Institutional investors own 42.44% of the company’s stock.

Insider Activity

In related news, Director Leon E. Panetta sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $137.89, for a total value of $2,068,350.00. Following the transaction, the director now directly owns 58,090 shares of the company’s stock, valued at approximately $8,010,030.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Oracle news, Director Leon E. Panetta sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total value of $2,068,350.00. Following the completion of the transaction, the director now directly owns 58,090 shares in the company, valued at $8,010,030.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were 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 in the company, valued at $164,630,281,802.57. The disclosure for this sale can be found here. Insiders sold a total of 1,862,500 shares of company stock valued at $266,776,624 in the last 90 days. Company insiders own 42.80% of the company’s stock.

Oracle Trading Up 0.4 %

NYSE:ORCL opened at $162.00 on Friday. The company has a market cap of $446.45 billion, a PE ratio of 43.67, a price-to-earnings-growth ratio of 2.89 and a beta of 1.01. 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 Co. has a 12 month low of $99.26 and a 12 month high of $173.93. The company has a 50 day simple moving average of $139.85 and a two-hundred day simple moving average of $129.90.

Oracle (NYSE:ORCL) last released its quarterly 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. The firm had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. Research analysts forecast that Oracle Co. will post 5.03 earnings per share for the current year.

Oracle Announces Dividend

The firm 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, October 10th. Oracle’s dividend payout ratio is presently 43.13%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ORCL. Deutsche Bank Aktiengesellschaft raised their target price on Oracle from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Barclays boosted their target price on shares of Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday. KeyCorp increased their price target on shares of Oracle from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday. Guggenheim boosted their price objective on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday. Finally, TD Cowen raised their target price on shares of Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $159.68.

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.