Sawgrass Asset Management LLC Has $22.94 Million Position in Oracle Co. (NYSE:ORCL)

Sawgrass Asset Management LLC grew its holdings in shares of Oracle Co. (NYSE:ORCL - Free Report) by 13.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,596 shares of the enterprise software provider's stock after buying an additional 15,456 shares during the period. Oracle accounts for approximately 2.4% of Sawgrass Asset Management LLC's holdings, making the stock its 8th biggest position. Sawgrass Asset Management LLC's holdings in Oracle were worth $22,935,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Patten & Patten Inc. TN lifted its holdings in Oracle by 13.8% in the first quarter. Patten & Patten Inc. TN now owns 9,018 shares of the enterprise software provider's stock valued at $1,133,000 after acquiring an additional 1,096 shares during the period. Edgestream Partners L.P. increased its holdings in shares of Oracle by 91.7% in the 1st quarter. Edgestream Partners L.P. now owns 13,771 shares of the enterprise software provider's stock valued at $1,730,000 after acquiring an additional 6,587 shares during the last quarter. Ironwood Investment Counsel LLC purchased a new position in shares of Oracle in the 1st quarter valued at about $347,000. Cynosure Group LLC purchased a new position in Oracle during the 1st quarter worth approximately $396,000. Finally, Covestor Ltd lifted its holdings in shares of Oracle by 35.3% in the 1st quarter. Covestor Ltd now owns 1,329 shares of the enterprise software provider's stock valued at $167,000 after buying an additional 347 shares during the period. Institutional investors own 42.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ORCL shares. Oppenheimer reissued a "market perform" rating on shares of Oracle in a research report on Tuesday, September 10th. Citigroup increased their price objective on Oracle from $140.00 to $157.00 and gave the company a "neutral" rating in a research report on Wednesday, September 11th. Melius upgraded Oracle from a "hold" rating to a "buy" rating and set a $210.00 target price on the stock in a report on Monday, September 16th. Melius Research raised Oracle from a "hold" rating to a "buy" rating in a report on Monday, September 16th. Finally, Jefferies Financial Group upped their target price on shares of Oracle from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $169.52.

Oracle Stock Down 1.8 %

ORCL stock traded down $3.31 on Friday, reaching $183.74. 8,986,276 shares of the company traded hands, compared to its average volume of 5,993,277. Oracle Co. has a one year low of $99.26 and a one year high of $191.77. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $509.15 billion, a P/E ratio of 47.36, a price-to-earnings-growth ratio of 3.39 and a beta of 1.02. The firm has a fifty day simple moving average of $172.14 and a 200-day simple moving average of $146.83.

Oracle (NYSE:ORCL - Get Free Report) last posted its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.06. The company had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. Research analysts anticipate that Oracle Co. will post 5 earnings per share for the current year.

Oracle Announces Dividend

The business also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Thursday, October 10th. Oracle's dividend payout ratio is currently 41.24%.

Insider Buying and Selling

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 42.20% of the company's stock.

Oracle Company 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.