Buckingham Asset Management LLC increased its holdings in Oracle Co. (NYSE:ORCL) by 16.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,330 shares of the enterprise software provider’s stock after acquiring an additional 3,908 shares during the period. Buckingham Asset Management LLC’s holdings in Oracle were worth $1,461,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of ORCL. Charles Schwab Investment Advisory Inc. bought a new position in shares of Oracle during the 2nd quarter valued at approximately $218,896,000. Thompson Siegel & Walmsley LLC grew its position in shares of Oracle by 2.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 304,726 shares of the enterprise software provider’s stock valued at $13,426,000 after acquiring an additional 6,366 shares during the period. Sterling Capital Management LLC grew its position in shares of Oracle by 76.8% during the 2nd quarter. Sterling Capital Management LLC now owns 482,931 shares of the enterprise software provider’s stock valued at $21,278,000 after acquiring an additional 209,853 shares during the period. Pitcairn Co. grew its position in shares of Oracle by 13.7% during the 2nd quarter. Pitcairn Co. now owns 32,418 shares of the enterprise software provider’s stock valued at $1,428,000 after acquiring an additional 3,898 shares during the period. Finally, 180 Wealth Advisors LLC grew its position in shares of Oracle by 16.8% during the 2nd quarter. 180 Wealth Advisors LLC now owns 23,323 shares of the enterprise software provider’s stock valued at $1,028,000 after acquiring an additional 3,358 shares during the period. Institutional investors own 53.38% of the company’s stock.
ORCL opened at $50.61 on Friday. The company has a market capitalization of $203.88 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. Oracle Co. has a 12 month low of $42.57 and a 12 month high of $53.48. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.41.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The company had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.26 billion. During the same period last year, the firm earned $0.62 EPS. Oracle’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts expect that Oracle Co. will post 3.06 earnings per share for the current year.
Oracle declared that its Board of Directors has approved a stock buyback plan on Monday, September 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Monday, October 15th. Oracle’s payout ratio is 26.95%.
In other Oracle news, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the completion of the transaction, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $47.77, for a total transaction of $179,137.50. Following the completion of the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,336,079.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,946 shares of company stock valued at $7,248,965. Insiders own 32.00% of the company’s stock.
A number of research analysts have recently weighed in on ORCL shares. Credit Suisse Group reissued a “buy” rating and set a $60.00 target price on shares of Oracle in a research report on Wednesday, October 24th. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Stifel Nicolaus reissued a “hold” rating and set a $49.00 target price (down from $50.00) on shares of Oracle in a research report on Tuesday, September 18th. Citigroup reduced their target price on shares of Oracle from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Tuesday, September 18th. Finally, Barclays increased their target price on shares of Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Seventeen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $53.71.
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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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