Utah Retirement Systems lowered its holdings in Oracle Co. (NYSE:ORCL) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 521,396 shares of the enterprise software provider’s stock after selling 10,900 shares during the period. Utah Retirement Systems’ holdings in Oracle were worth $26,883,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC lifted its holdings in Oracle by 21.4% during the 2nd quarter. FMR LLC now owns 47,683,832 shares of the enterprise software provider’s stock worth $2,100,949,000 after buying an additional 8,401,411 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in Oracle by 1.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 39,519,223 shares of the enterprise software provider’s stock worth $2,037,611,000 after buying an additional 625,051 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Oracle by 13.1% during the 3rd quarter. Franklin Resources Inc. now owns 29,336,984 shares of the enterprise software provider’s stock worth $1,512,636,000 after buying an additional 3,393,152 shares during the last quarter. Magellan Asset Management Ltd lifted its holdings in Oracle by 0.3% during the 2nd quarter. Magellan Asset Management Ltd now owns 27,663,584 shares of the enterprise software provider’s stock worth $1,218,858,000 after buying an additional 85,349 shares during the last quarter. Finally, Vulcan Value Partners LLC lifted its holdings in Oracle by 3.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 25,019,520 shares of the enterprise software provider’s stock worth $1,102,360,000 after buying an additional 922,785 shares during the last quarter. 50.97% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was 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 in the company, valued at approximately $1,398,729.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dorian Daley sold 131,696 shares of the firm’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 sale, the executive vice president now 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 90 days, insiders sold 142,946 shares of company stock worth $7,257,365. 32.00% of the stock is owned by insiders.
ORCL opened at $46.00 on Friday. 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 quick ratio of 3.43 and a current ratio of 3.43. The company has a market capitalization of $193.24 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11.
Oracle (NYSE:ORCL) last posted its earnings results 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. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The firm had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.26 billion. During the same period last year, the firm earned $0.62 EPS. The firm’s revenue was up .8% compared to the same quarter last year. As a group, research analysts expect that Oracle Co. will post 3.06 earnings per share for the current fiscal year.
Oracle announced that its board has approved a stock repurchase 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 stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of research analysts have commented on ORCL shares. Societe Generale set a $50.00 target price on Oracle and gave the stock a “neutral” rating in a report on Tuesday, August 14th. Zacks Investment Research cut Oracle from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Barclays increased their price target on Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 7th. KeyCorp reiterated a “hold” rating on shares of Oracle in a research report on Wednesday, September 12th. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $55.00 price target on shares of Oracle in a research report on Tuesday, September 18th. Seventeen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.71.
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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