King Luther Capital Management Corp cut its holdings in Oracle Co. (NYSE:ORCL) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 989,069 shares of the enterprise software provider’s stock after selling 6,049 shares during the period. King Luther Capital Management Corp’s holdings in Oracle were worth $50,996,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC bought a new position in shares of Oracle during the third quarter valued at about $107,000. WESPAC Advisors SoCal LLC bought a new position in shares of Oracle during the third quarter valued at about $119,000. ELM Advisors LLC bought a new position in shares of Oracle during the third quarter valued at about $122,000. Palo Capital Inc. bought a new position in shares of Oracle during the third quarter valued at about $141,000. Finally, Kiley Juergens Wealth Management LLC raised its stake in shares of Oracle by 70.9% during the third quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after acquiring an additional 1,140 shares during the last quarter. 50.97% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the stock. Credit Suisse Group reaffirmed a “buy” rating and set a $60.00 price objective on shares of Oracle in a research note on Tuesday, September 18th. Royal Bank of Canada upped their price objective on shares of Oracle from $52.00 to $53.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 18th. Goldman Sachs Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of Oracle in a research note on Tuesday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of Oracle in a research note on Wednesday, September 12th. Finally, Wedbush reaffirmed a “neutral” rating and set a $49.00 price objective on shares of Oracle in a research note on Tuesday, September 18th. Seventeen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $53.71.
ORCL stock opened at $46.00 on Friday. Oracle Co. has a 1 year low of $42.57 and a 1 year high of $53.48. The stock has a market capitalization of $193.24 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.57 and a beta of 1.11. 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 results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) 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 company had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.26 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. Oracle’s revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate that Oracle Co. will post 3.06 earnings per share for the current fiscal year.
Oracle announced that its Board of Directors has authorized a share buyback program 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 buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
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 completion of the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,398,729.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dorian Daley sold 131,696 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $50.93, for a total transaction 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 $5,582,691.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,946 shares of company stock valued at $7,257,365. 32.00% of the stock is owned by insiders.
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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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