Miura Global Management LLC Makes New Investment in Oracle Co. (NYSE:ORCL)

Miura Global Management LLC purchased a new position in Oracle Co. (NYSE:ORCL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,000 shares of the enterprise software provider’s stock, valued at approximately $1,704,000. Oracle comprises 2.0% of Miura Global Management LLC’s investment portfolio, making the stock its 15th largest position.

Other institutional investors have also modified their holdings of the company. Morse Asset Management Inc acquired a new position in shares of Oracle in the 3rd quarter worth approximately $2,590,000. IHT Wealth Management LLC increased its holdings in shares of Oracle by 35.5% in the third quarter. IHT Wealth Management LLC now owns 21,610 shares of the enterprise software provider’s stock valued at $3,671,000 after buying an additional 5,663 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Oracle by 1.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 59,515 shares of the enterprise software provider’s stock valued at $10,141,000 after acquiring an additional 971 shares during the last quarter. Investment Management Corp of Ontario boosted its stake in shares of Oracle by 49.5% during the 3rd quarter. Investment Management Corp of Ontario now owns 54,944 shares of the enterprise software provider’s stock worth $9,362,000 after acquiring an additional 18,200 shares in the last quarter. Finally, IronBridge Private Wealth LLC purchased a new stake in shares of Oracle during the third quarter valued at $223,000. Institutional investors own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ORCL shares. Jefferies Financial Group upped their price objective on shares of Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Royal Bank of Canada began coverage on Oracle in a report on Wednesday, October 23rd. They issued a “sector perform” rating and a $165.00 target price for the company. TD Cowen lifted their price target on Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Barclays increased their price objective on Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Morgan Stanley increased their target price on shares of Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.52.

Insider Buying and Selling at Oracle

In other 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 transaction, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at $7,076,685. The trade was a 12.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 42.20% of the company’s stock.

Oracle Stock Performance

Shares of ORCL stock traded down $4.26 on Wednesday, reaching $186.11. The stock had a trading volume of 1,397,623 shares, compared to its average volume of 8,230,271. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68. The firm’s 50-day moving average is $176.44 and its two-hundred day moving average is $150.66. The firm has a market capitalization of $515.72 billion, a price-to-earnings ratio of 49.06, a P/E/G ratio of 3.46 and a beta of 1.02. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $196.04.

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

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a $0.40 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. Oracle’s dividend payout ratio is currently 41.24%.

Oracle 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.