First Republic Investment Management Inc. decreased its stake in Oracle Co. (NYSE:ORCL) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,464,574 shares of the enterprise software provider’s stock after selling 122,240 shares during the period. First Republic Investment Management Inc.’s holdings in Oracle were worth $75,514,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in ORCL. FMR LLC raised its position in Oracle by 21.4% in the second quarter. FMR LLC now owns 47,683,832 shares of the enterprise software provider’s stock worth $2,100,949,000 after acquiring an additional 8,401,411 shares during the period. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Oracle in the second quarter valued at approximately $218,896,000. Franklin Resources Inc. raised its position in shares of Oracle by 13.1% in the third quarter. Franklin Resources Inc. now owns 29,336,984 shares of the enterprise software provider’s stock valued at $1,512,636,000 after purchasing an additional 3,393,152 shares during the period. Renaissance Technologies LLC raised its position in shares of Oracle by 186.4% in the third quarter. Renaissance Technologies LLC now owns 3,092,232 shares of the enterprise software provider’s stock valued at $159,435,000 after purchasing an additional 2,012,432 shares during the period. Finally, Putnam Investments LLC raised its position in shares of Oracle by 202.1% in the second quarter. Putnam Investments LLC now owns 2,136,058 shares of the enterprise software provider’s stock valued at $94,115,000 after purchasing an additional 1,428,924 shares during the period. 50.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:ORCL opened at $46.00 on Friday. The company has a market cap of $193.24 billion, a P/E ratio of 16.10, a PEG ratio of 1.57 and a beta of 1.11. Oracle Co. has a 12 month low of $42.57 and a 12 month high of $53.48. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. Oracle’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. As a group, equities research analysts anticipate that Oracle Co. will post 3.06 earnings per share for the current year.
Oracle declared that its board has approved a share buyback program on Monday, September 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Oracle news, EVP Dorian Daley sold 131,696 shares of the business’s stock in a transaction that occurred 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 owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $185,325.00. Following the completion of the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,382,227.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,946 shares of company stock valued at $7,257,365. 32.00% of the stock is owned by corporate insiders.
Several research firms have recently issued reports on ORCL. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a research report on Wednesday. MED lowered their price target on shares of Oracle from $56.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 10th. They noted that the move was a valuation call. Credit Suisse Group reissued a “buy” rating and issued a $60.00 price target on shares of Oracle in a research report on Wednesday, October 24th. Needham & Company LLC began coverage on shares of Oracle in a research report on Monday, October 22nd. They issued a “hold” rating on the stock. Finally, KeyCorp reissued a “hold” rating on shares of Oracle in a research report on Wednesday, September 12th. Seventeen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $53.71.
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Oracle Company Profile
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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