Sumitomo Life Insurance Co. lessened its holdings in Oracle Co. (NYSE:ORCL) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,669 shares of the enterprise software provider’s stock after selling 4,259 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Oracle were worth $4,145,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Keel Point LLC grew its holdings in Oracle by 0.3% in the second quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock worth $268,000 after purchasing an additional 14 shares during the period. Flagship Harbor Advisors LLC grew its holdings in shares of Oracle by 0.4% during the second quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock valued at $404,000 after buying an additional 35 shares during the last quarter. Hudock Capital Group LLC grew its holdings in shares of Oracle by 1.6% during the second quarter. Hudock Capital Group LLC now owns 4,062 shares of the enterprise software provider’s stock valued at $203,000 after buying an additional 65 shares during the last quarter. Highland Private Wealth Management grew its holdings in shares of Oracle by 0.7% during the second quarter. Highland Private Wealth Management now owns 9,660 shares of the enterprise software provider’s stock valued at $485,000 after buying an additional 70 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its holdings in shares of Oracle by 0.4% during the second quarter. Calamos Wealth Management LLC now owns 19,893 shares of the enterprise software provider’s stock valued at $997,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Barclays increased their price target on shares of Oracle from $56.00 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 target on shares of Oracle and gave the company a “buy” rating in a report on Monday, December 18th. Nomura assumed coverage on shares of Oracle in a report on Tuesday, January 23rd. They set a “buy” rating and a $64.00 price target on the stock. Vetr upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $51.77 price target on the stock in a report on Monday, February 5th. Finally, OTR Global cut shares of Oracle to a “positive” rating in a report on Friday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Oracle currently has a consensus rating of “Buy” and a consensus price target of $55.76.
Oracle Co. (NYSE:ORCL) opened at $52.90 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04. Oracle Co. has a 52-week low of $42.40 and a 52-week high of $53.44. The firm has a market cap of $219,274.72, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 2.02 and a beta of 1.05.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. sell-side analysts predict that Oracle Co. will post 2.68 EPS for the current fiscal year.
Oracle announced that its Board of Directors has approved a stock buyback plan on Thursday, December 14th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Oracle Company Profile
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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