Kornitzer Capital Management Inc. KS Invests $218,000 in Oracle Co. (NYSE:ORCL)

Kornitzer Capital Management Inc. KS acquired a new position in shares of Oracle Co. (NYSE:ORCL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,281 shares of the enterprise software provider’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Oracle by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 151,213,890 shares of the enterprise software provider’s stock worth $18,993,977,000 after buying an additional 1,514,569 shares during the period. Capital World Investors boosted its stake in Oracle by 0.4% in the 1st quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock worth $2,319,604,000 after purchasing an additional 82,551 shares during the period. Legal & General Group Plc increased its holdings in Oracle by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 13,242,340 shares of the enterprise software provider’s stock worth $1,869,816,000 after purchasing an additional 296,866 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Oracle by 148.8% in the 1st 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 purchasing an additional 7,699,141 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Oracle by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,318,962 shares of the enterprise software provider’s stock valued at $1,033,430,000 after purchasing an additional 424,500 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors.

Insider Transactions 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 stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now owns 42,889 shares of the company’s stock, valued at $7,076,685. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 42.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on ORCL. Bank of America boosted their target price on Oracle from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. DA Davidson raised their target price on shares of Oracle from $105.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Evercore ISI increased their price objective on shares of Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Sanford C. Bernstein lifted their target price on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, Morgan Stanley raised their price target on Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Oracle presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.52.

Oracle Stock Up 1.6 %

ORCL opened at $189.29 on Friday. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day moving average of $167.47 and a 200-day moving average of $144.10. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $190.16. The company has a market capitalization of $524.53 billion, a P/E ratio of 48.79, a P/E/G ratio of 3.34 and a beta of 1.02.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The firm had revenue of $13.31 billion for the quarter, compared to analyst estimates of $13.23 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts expect that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.85%. Oracle’s payout ratio is 41.24%.

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.