NEW YORK (TheStreet) -- Shares of Oracle (ORCL) - Get Report were gaining 1.6% to $43.57 after-hours Tuesday after the computer technology company reported its fiscal third quarter results and raised its quarterly dividend.

Oracle reported earnings of 68 cents a share for the fiscal third quarter, in line with analysts' estimates for the quarter. The company reported revenue of $9.32 billion for the fiscal third quarter, the same as the year-ago quarter, and below analysts' estimates of $9.46 billion.

"In Q3, we sold nearly $200 million of new SaaS and PaaS business as measured in annual recurring revenue," Oracle CEO Mark Hurd said. "In Q4, we expect to sell over $300 million of new SaaS and PaaS annual recurring revenue."

The company also raised its quarterly dividend by 25% to 15 cents a share from 12 cents a share. The new dividend will be paid on April 28 to all shareholders of record as of April 7.

Oracle chairman, CTO, and largest stockholder Larry Ellison was not involved in the vote to increase the company's dividend.

TheStreet Ratings team rates ORACLE CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate ORACLE CORP (ORCL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

You can view the full analysis from the report here: ORCL Ratings Report

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