Connable Office Inc. decreased its holdings in shares of Oracle Co. (NYSE:ORCL) by 15.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,034 shares of the enterprise software provider’s stock after selling 10,217 shares during the quarter. Connable Office Inc.’s holdings in Oracle were worth $2,838,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Xact Kapitalforvaltning AB grew its position in shares of Oracle by 6.5% during the second quarter. Xact Kapitalforvaltning AB now owns 673,708 shares of the enterprise software provider’s stock worth $29,684,000 after purchasing an additional 41,024 shares in the last quarter. F&V Capital Management LLC boosted its stake in Oracle by 16.2% during the second quarter. F&V Capital Management LLC now owns 105,750 shares of the enterprise software provider’s stock valued at $4,659,000 after buying an additional 14,760 shares during the last quarter. Hills Bank & Trust Co. boosted its stake in Oracle by 4.8% during the second quarter. Hills Bank & Trust Co. now owns 29,799 shares of the enterprise software provider’s stock valued at $1,313,000 after buying an additional 1,365 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Oracle during the second quarter valued at approximately $4,711,000. Finally, Willow Creek Wealth Management Inc. boosted its stake in Oracle by 15.6% during the second quarter. Willow Creek Wealth Management Inc. now owns 8,051 shares of the enterprise software provider’s stock valued at $355,000 after buying an additional 1,084 shares during the last quarter. 50.97% of the stock is owned by hedge funds and other institutional investors.
In other Oracle news, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the transaction, the executive vice president now directly owns 109,615 shares in the company, valued at approximately $5,582,691.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $47.26, for a total value of $177,225.00. Following the transaction, the director now owns 27,969 shares in the company, valued at $1,321,814.94. The disclosure for this sale can be found here. Insiders have sold a total of 142,946 shares of company stock valued at $7,257,365 over the last three months. 32.00% of the stock is owned by corporate insiders.
ORCL has been the subject of a number of research reports. UBS Group increased their price target on Oracle from $48.00 to $51.00 and gave the company a “positive” rating in a research note on Thursday, August 9th. Societe Generale set a $50.00 price objective on Oracle and gave the company a “neutral” rating in a research note on Tuesday, August 14th. Zacks Investment Research lowered Oracle from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Barclays raised their price objective on Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Oracle in a research note on Wednesday, September 12th. Seventeen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Oracle presently has a consensus rating of “Hold” and an average price target of $53.71.
Shares of ORCL stock traded down $2.07 on Thursday, reaching $46.68. 39,788,655 shares of the company’s stock were exchanged, compared to its average volume of 17,648,893. Oracle Co. has a 52 week low of $42.57 and a 52 week high of $53.48. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.43 and a current ratio of 3.43. The firm has a market capitalization of $201.81 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.64 and a beta of 1.11.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The firm had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.26 billion. During the same period last year, the company earned $0.62 EPS. Oracle’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that Oracle Co. will post 3.06 EPS for the current year.
Oracle declared that its Board of Directors has initiated a share buyback plan on Monday, September 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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