Evercore Wealth Management LLC boosted its holdings in Oracle Co. (NYSE:ORCL) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,393 shares of the enterprise software provider’s stock after purchasing an additional 2,898 shares during the quarter. Evercore Wealth Management LLC’s holdings in Oracle were worth $7,187,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Truvestments Capital LLC acquired a new position in Oracle in the 3rd quarter valued at $107,000. WESPAC Advisors SoCal LLC acquired a new position in Oracle in the 3rd quarter valued at $119,000. ELM Advisors LLC acquired a new position in Oracle in the 3rd quarter valued at $122,000. Kiley Juergens Wealth Management LLC increased its stake in Oracle by 70.9% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after buying an additional 1,140 shares during the period. Finally, Palo Capital Inc. acquired a new position in Oracle in the 3rd quarter valued at $141,000. Hedge funds and other institutional investors own 50.97% of the company’s stock.
Several brokerages have issued reports on ORCL. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Societe Generale set a $50.00 price objective on shares of Oracle and gave the company a “neutral” rating in a research note on Tuesday, August 14th. Needham & Company LLC began coverage on shares of Oracle in a research note on Monday, October 22nd. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $53.00 price objective on shares of Oracle in a research note on Tuesday, September 18th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $55.00 price objective on shares of Oracle in a research note on Tuesday, September 18th. Seventeen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.71.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $50.01, for a total value of $187,537.50. Following the sale, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,398,729.69. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Dorian Daley sold 131,696 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the completion of the sale, the executive vice president now directly owns 109,615 shares in the company, valued at $5,582,691.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,946 shares of company stock worth $7,257,365. Corporate insiders own 32.00% of the company’s stock.
NYSE:ORCL opened at $46.00 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.43 and a current ratio of 3.43. Oracle Co. has a fifty-two week low of $42.57 and a fifty-two week high of $53.48. The firm has a market cap of $201.81 billion, a PE ratio of 16.31, a P/E/G ratio of 1.64 and a beta of 1.11.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.26 billion. During the same period in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts expect that Oracle Co. will post 3.06 earnings per share for the current fiscal year.
Oracle announced that its Board of Directors has approved a share buyback plan on Monday, September 17th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows 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 management believes its shares are undervalued.
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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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