Seven Eight Capital LP Invests $16.76 Million in Oracle Co. (ORCL) Stock

Seven Eight Capital LP acquired a new position in shares of Oracle Co. (NYSE:ORCL) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 324,981 shares of the enterprise software provider’s stock, valued at approximately $16,756,000. Oracle accounts for about 1.0% of Seven Eight Capital LP’s investment portfolio, making the stock its 4th largest position.

A number of other institutional investors have also modified their holdings of ORCL. Rainier Group Investment Advisory LLC purchased a new stake in shares of Oracle in the first quarter valued at about $106,000. ELM Advisors LLC purchased a new stake in shares of Oracle in the third quarter valued at about $122,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Oracle in the second quarter valued at about $126,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Oracle in the first quarter valued at about $130,000. Finally, Kiley Juergens Wealth Management LLC boosted its holdings in Oracle by 70.9% during the third quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock worth $141,000 after buying an additional 1,140 shares in the last quarter. 53.58% of the stock is currently owned by institutional investors.

Shares of ORCL opened at $47.38 on Friday. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.41. The stock has a market cap of $198.12 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.60 and a beta of 1.15. Oracle Co. has a 12-month low of $42.57 and a 12-month high of $53.48.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 earnings per share. As a group, research analysts anticipate that Oracle Co. will post 3.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Monday, October 15th. Oracle’s payout ratio is currently 26.95%.

Oracle declared that its board has authorized a share repurchase plan on Monday, September 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of analysts recently commented on ORCL shares. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Wells Fargo & Co decreased their price objective on shares of Oracle from $62.50 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, September 18th. ValuEngine downgraded shares of Oracle from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. Credit Suisse Group reissued a “buy” rating and set a $60.00 price objective on shares of Oracle in a report on Tuesday, September 18th. Finally, Barclays boosted their price objective on shares of Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. Sixteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $53.92.

In other news, EVP Dorian Daley sold 131,696 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the completion of the transaction, the executive vice president now owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $47.26, for a total transaction of $177,225.00. Following the completion of the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,321,814.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,946 shares of company stock valued at $7,248,965. 32.00% of the stock is currently owned by company insiders.

About Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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