Peapack Gladstone Financial Corp Buys 14,122 Shares of Oracle Co. (NYSE:ORCL)

Peapack Gladstone Financial Corp grew its position in shares of Oracle Co. (NYSE:ORCL - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 308,325 shares of the enterprise software provider's stock after purchasing an additional 14,122 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Oracle were worth $52,540,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. State Street Corp increased its position in shares of Oracle by 2.7% during the 3rd quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider's stock valued at $12,003,241,000 after purchasing an additional 1,847,561 shares during the period. Geode Capital Management LLC boosted its stake in shares of Oracle by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 35,194,683 shares of the enterprise software provider's stock worth $5,977,015,000 after acquiring an additional 885,041 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Oracle by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 17,898,029 shares of the enterprise software provider's stock worth $3,049,824,000 after acquiring an additional 310,709 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Oracle by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 14,608,951 shares of the enterprise software provider's stock worth $2,489,345,000 after acquiring an additional 54,868 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of 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 acquiring an additional 296,866 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ORCL has been the subject of several research reports. Stifel Nicolaus raised their price objective on Oracle from $155.00 to $175.00 and gave the stock a "hold" rating in a research note on Tuesday. JMP Securities reaffirmed a "market outperform" rating and issued a $205.00 target price on shares of Oracle in a research report on Tuesday. Melius raised Oracle from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $165.00 target price on shares of Oracle in a research report on Thursday, December 5th. Finally, StockNews.com cut Oracle from a "buy" rating to a "hold" rating in a research report on Tuesday. Twelve research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $183.63.

Oracle Stock Down 1.1 %

ORCL stock traded down $1.93 during trading hours on Friday, reaching $173.39. 8,141,051 shares of the stock were exchanged, compared to its average volume of 8,401,191. The firm's 50-day moving average is $180.36 and its 200-day moving average is $155.36. The company has a market cap of $484.96 billion, a price-to-earnings ratio of 42.39, a PEG ratio of 3.32 and a beta of 1.03. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.72. Oracle Co. has a 12 month low of $99.36 and a 12 month high of $198.31.

Oracle (NYSE:ORCL - Get Free Report) last issued its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.01). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $14.12 billion. During the same quarter last year, the business posted $1.34 earnings per share. The company's revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts expect that Oracle Co. will post 5.17 earnings per share for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, January 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.60 annualized dividend and a yield of 0.92%. Oracle's dividend payout ratio (DPR) is presently 39.12%.

Insiders Place Their Bets

In other news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 42.20% of the company's stock.

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.