Wedge Capital Management L L P NC increased its holdings in shares of Oracle Co. (NYSE:ORCL) by 26.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,350,362 shares of the enterprise software provider’s stock after purchasing an additional 278,660 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Oracle were worth $63,845,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Acrospire Investment Management LLC boosted its position in Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares during the last quarter. Tarbox Family Office Inc. boosted its holdings in shares of Oracle by 71.1% in the 4th quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock valued at $110,000 after buying an additional 965 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in shares of Oracle by 81,200.0% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $118,000 after buying an additional 2,436 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Oracle in the 4th quarter valued at approximately $126,000. Finally, ETF Managers Group LLC acquired a new stake in shares of Oracle in the 2nd quarter valued at approximately $133,000. 58.03% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on ORCL. Barclays increased their price objective on Oracle to $60.00 and gave the company an “overweight” rating in a report on Monday. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $55.00 price objective on Oracle and gave the company a “buy” rating in a report on Monday, December 18th. Nomura began coverage on Oracle in a report on Tuesday, January 23rd. They issued a “buy” rating and a $64.00 price objective for the company. Vetr raised Oracle from a “hold” rating to a “buy” rating and set a $51.77 price objective for the company in a report on Monday, February 5th. Finally, OTR Global downgraded Oracle to a “positive” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Oracle currently has an average rating of “Buy” and an average target price of $55.76.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The company had revenue of $9.63 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the business earned $0.61 earnings per share. Oracle’s revenue was up 6.2% on a year-over-year basis. analysts expect that Oracle Co. will post 2.68 EPS for the current fiscal year.
Oracle announced that its board has authorized a stock repurchase plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $48.40, for a total value of $181,500.00. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at $877,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Naomi O. Seligman sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $51.34, for a total value of $2,310,300.00. Following the completion of the sale, the director now directly owns 62,498 shares in the company, valued at $3,208,647.32. The disclosure for this sale can be found here. Insiders sold 1,956,250 shares of company stock worth $98,316,475 in the last 90 days. 29.00% of the stock is owned by company insiders.
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Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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