North Star Asset Management Inc. grew its holdings in Oracle Co. (NYSE:ORCL) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 157,036 shares of the enterprise software provider’s stock after buying an additional 15,482 shares during the period. North Star Asset Management Inc.’s holdings in Oracle were worth $7,425,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Harrington Investments INC grew its holdings in shares of Oracle by 11.2% in the fourth quarter. Harrington Investments INC now owns 45,201 shares of the enterprise software provider’s stock valued at $2,137,000 after purchasing an additional 4,548 shares during the period. CIBC World Markets Inc. grew its holdings in shares of Oracle by 128.4% in the fourth quarter. CIBC World Markets Inc. now owns 318,157 shares of the enterprise software provider’s stock valued at $15,042,000 after purchasing an additional 178,875 shares during the period. Highstreet Asset Management Inc. grew its holdings in shares of Oracle by 91.9% in the fourth quarter. Highstreet Asset Management Inc. now owns 62,283 shares of the enterprise software provider’s stock valued at $2,945,000 after purchasing an additional 29,828 shares during the period. ZWJ Investment Counsel Inc. grew its holdings in shares of Oracle by 2.9% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 721,225 shares of the enterprise software provider’s stock valued at $34,100,000 after purchasing an additional 20,161 shares during the period. Finally, LSV Asset Management grew its holdings in shares of Oracle by 80.0% in the fourth quarter. LSV Asset Management now owns 2,374,300 shares of the enterprise software provider’s stock valued at $112,256,000 after purchasing an additional 1,055,500 shares during the period. Institutional investors and hedge funds own 58.03% of the company’s stock.
A number of equities research analysts recently issued reports on ORCL shares. UBS Group set a $55.00 price objective on shares of Oracle and gave the company a “neutral” rating in a report on Friday, December 15th. Oppenheimer reissued a “hold” rating on shares of Oracle in a report on Friday, December 15th. Royal Bank of Canada upped their price objective on shares of Oracle to $53.00 and gave the company an “outperform” rating in a report on Wednesday, December 6th. Morgan Stanley raised shares of Oracle from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $46.63 to $47.71 in a report on Wednesday, January 3rd. Finally, Zacks Investment Research raised shares of Oracle from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.76.
Shares of Oracle Co. (NYSE:ORCL) opened at $52.58 on Wednesday. The stock has a market cap of $217,660.00, a PE ratio of 22.57, a PEG ratio of 2.02 and a beta of 1.05. Oracle Co. has a 1 year low of $42.40 and a 1 year high of $53.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The firm had revenue of $9.63 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. research analysts expect that Oracle Co. will post 2.68 EPS for the current fiscal year.
Oracle announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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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