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

Peapack Gladstone Financial Corp grew its position in Oracle Co. (NYSE:ORCL) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 308,325 shares of the enterprise software provider’s stock after purchasing an additional 14,122 shares during the period. Peapack Gladstone Financial Corp’s holdings in Oracle were worth $52,540,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new position in Oracle during the 2nd quarter worth about $27,000. POM Investment Strategies LLC bought a new stake in Oracle during the 2nd quarter worth about $30,000. Quest Partners LLC bought a new stake in shares of Oracle in the 2nd quarter valued at about $40,000. Reston Wealth Management LLC bought a new stake in shares of Oracle in the 3rd quarter valued at about $44,000. Finally, Avondale Wealth Management bought a new stake in shares of Oracle in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on Oracle from $145.00 to $175.00 and gave the company an “equal weight” rating in a research note on Tuesday. Piper Sandler increased their target price on Oracle from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Tuesday. StockNews.com cut Oracle from a “buy” rating to a “hold” rating in a research note on Tuesday. Mizuho increased their target price on Oracle from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, DA Davidson increased their target price on Oracle from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.63.

Insider Transactions at Oracle

In other news, EVP Maria Smith sold 6,320 shares of the stock in a transaction on Monday, September 16th. The stock was 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 of the company’s stock, valued at approximately $7,076,685. This represents a 12.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 42.20% of the company’s stock.

Oracle Stock Down 1.8 %

ORCL opened at $175.28 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 5.65. The stock’s fifty day simple moving average is $180.36 and its 200 day simple moving average is $155.36. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $198.31. The stock has a market cap of $490.25 billion, a PE ratio of 42.86, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The company had revenue of $14.06 billion for the quarter, compared to analyst estimates of $14.12 billion. During the same quarter in the prior year, the business posted $1.34 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts expect that Oracle Co. will post 5.17 earnings per share for the current year.

Oracle Announces Dividend

The company 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. This represents a $1.60 annualized dividend and a yield of 0.91%. The ex-dividend date is Thursday, January 9th. Oracle’s payout ratio is 39.12%.

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.