Picton Mahoney Asset Management lessened its stake in shares of Oracle Co. (NYSE:ORCL) by 28.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,400 shares of the enterprise software provider’s stock after selling 45,600 shares during the period. Picton Mahoney Asset Management’s holdings in Oracle were worth $5,314,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its stake in Oracle by 947.4% in the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after buying an additional 1,800 shares during the period. Tarbox Family Office Inc. raised its stake in Oracle by 71.1% in the fourth 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 period. Wealthcare Advisory Partners LLC raised its stake in Oracle by 81,200.0% in the third 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 period. Cerebellum GP LLC bought a new stake in Oracle in the fourth quarter valued at approximately $126,000. Finally, ETF Managers Group LLC bought a new stake in Oracle in the second quarter valued at approximately $133,000. Institutional investors and hedge funds own 58.03% of the company’s stock.
Several research firms have issued reports on ORCL. Barclays upped their price objective on Oracle from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday. They noted that the move was a valuation call. OTR Global lowered Oracle to a “positive” rating in a research note on Friday, March 9th. Instinet began coverage on Oracle in a research note on Wednesday, January 24th. They issued a “buy” rating and a $51.12 price objective on the stock. ValuEngine upgraded Oracle from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Nomura began coverage on Oracle in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $64.00 price objective on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $55.76.
Shares of Oracle Co. (NYSE:ORCL) opened at $52.58 on Wednesday. The stock has a market capitalization of $217,660.00, a P/E ratio of 22.57, a P/E/G ratio of 2.02 and a beta of 1.05. Oracle Co. has a 12-month low of $42.40 and a 12-month 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 quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 20.49% and a net margin of 25.48%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share. analysts forecast that Oracle Co. will post 2.68 EPS for the current fiscal year.
Oracle announced that its Board of Directors has authorized a share buyback 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 buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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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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