Huber Capital Management LLC lowered its stake in shares of Oracle Co. (NYSE:ORCL) by 11.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,100 shares of the enterprise software provider’s stock after selling 46,000 shares during the quarter. Huber Capital Management LLC’s holdings in Oracle were worth $17,793,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Godshalk Welsh Capital Management Inc. grew its position in Oracle by 6.1% during the third quarter. Godshalk Welsh Capital Management Inc. now owns 31,400 shares of the enterprise software provider’s stock worth $1,619,000 after buying an additional 1,800 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new stake in Oracle during the second quarter worth approximately $218,896,000. Thompson Siegel & Walmsley LLC grew its position in Oracle by 2.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 304,726 shares of the enterprise software provider’s stock worth $13,426,000 after buying an additional 6,366 shares in the last quarter. Trexquant Investment LP grew its position in Oracle by 1,874.8% during the third quarter. Trexquant Investment LP now owns 100,219 shares of the enterprise software provider’s stock worth $5,167,000 after buying an additional 95,144 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in Oracle by 76.8% during the second quarter. Sterling Capital Management LLC now owns 482,931 shares of the enterprise software provider’s stock worth $21,278,000 after buying an additional 209,853 shares in the last quarter. 50.97% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Dorian Daley sold 131,696 shares of the stock in a transaction on Monday, September 24th. The stock was 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 in the company, valued at approximately $5,582,691.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Monday, September 17th. The shares were sold at an average price of $49.42, for a total value of $185,325.00. Following the completion of the transaction, the director now owns 27,969 shares of the company’s stock, valued at $1,382,227.98. The disclosure for this sale can be found here. Insiders sold a total of 142,946 shares of company stock valued at $7,257,365 over the last quarter. 32.00% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Oracle from a “sell” rating to a “hold” rating in a research note on Wednesday. Rosenblatt Securities restated a “hold” rating and set a $51.00 target price on shares of Oracle in a research note on Tuesday, October 30th. Nomura cut their target price on Oracle from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, October 26th. KeyCorp restated a “hold” rating on shares of Oracle in a research note on Friday, October 26th. Finally, Credit Suisse Group restated a “buy” rating and set a $60.00 target price on shares of Oracle in a research note on Wednesday, October 24th. Seventeen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $53.71.
Shares of ORCL opened at $46.00 on Friday. Oracle Co. has a 52 week low of $42.57 and a 52 week high of $53.48. The firm has a market capitalization of $193.24 billion, a PE ratio of 16.31, a PEG ratio of 1.57 and a beta of 1.11. 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 announced its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.26 billion. During the same period in the prior year, the company earned $0.62 EPS. Oracle’s revenue was up .8% compared to the same quarter last year. As a group, analysts expect that Oracle Co. will post 3.06 EPS for the current year.
Oracle declared that its Board of Directors has approved a share 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 purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board 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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