Tocqueville Asset Management L.P. lessened its stake in shares of Oracle Co. (NYSE:ORCL) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 514,814 shares of the enterprise software provider’s stock after selling 14,010 shares during the period. Tocqueville Asset Management L.P.’s holdings in Oracle were worth $26,544,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of ORCL. WEALTHFRONT Corp raised its holdings in Oracle by 14.8% in the 3rd quarter. WEALTHFRONT Corp now owns 74,068 shares of the enterprise software provider’s stock valued at $3,819,000 after buying an additional 9,537 shares during the period. Bailard Inc. raised its holdings in Oracle by 7.5% in the 3rd quarter. Bailard Inc. now owns 20,351 shares of the enterprise software provider’s stock valued at $1,049,000 after buying an additional 1,423 shares during the period. Osterweis Capital Management Inc. purchased a new stake in Oracle in the 3rd quarter valued at about $254,000. Renaissance Technologies LLC raised its holdings in Oracle by 186.4% in the 3rd quarter. Renaissance Technologies LLC now owns 3,092,232 shares of the enterprise software provider’s stock valued at $159,435,000 after buying an additional 2,012,432 shares during the period. Finally, Riverhead Capital Management LLC raised its holdings in Oracle by 35.1% in the 3rd quarter. Riverhead Capital Management LLC now owns 250,413 shares of the enterprise software provider’s stock valued at $12,911,000 after buying an additional 65,033 shares during the period. Institutional investors and hedge funds own 50.97% of the company’s stock.
Shares of 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. The stock has a market cap of $193.24 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11. Oracle Co. has a 1 year low of $42.57 and a 1 year high of $53.48.
Oracle (NYSE:ORCL) last issued 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 for the quarter, compared to analyst estimates of $9.26 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts anticipate that Oracle Co. will post 3.06 EPS for the current fiscal year.
Oracle declared that its Board of Directors has initiated a share buyback plan on Monday, September 17th that allows the company to repurchase $12.00 billion in 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 typically a sign that the company’s leadership believes its stock is undervalued.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating in a report on Wednesday. MED reduced their price objective on shares of Oracle from $56.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, October 10th. They noted that the move was a valuation call. Credit Suisse Group restated a “buy” rating and issued a $60.00 price objective on shares of Oracle in a report on Wednesday, October 24th. Needham & Company LLC assumed coverage on shares of Oracle in a report on Monday, October 22nd. They issued a “hold” rating on the stock. Finally, KeyCorp restated a “hold” rating on shares of Oracle in a report on Wednesday, September 12th. Seventeen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Oracle presently has a consensus rating of “Hold” and an average target price of $53.71.
In other news, EVP Dorian Daley sold 131,696 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $49.42, for a total value of $185,325.00. Following the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,382,227.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,946 shares of company stock valued at $7,257,365. Corporate insiders own 32.00% of the company’s stock.
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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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