Public Employees Retirement Association of Colorado decreased its holdings in shares of Oracle Co. (NYSE:ORCL) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,540,921 shares of the enterprise software provider’s stock after selling 9,478 shares during the period. Oracle accounts for about 1.2% of Public Employees Retirement Association of Colorado’s holdings, making the stock its 15th largest holding. Public Employees Retirement Association of Colorado owned about 0.11% of Oracle worth $194,857,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Evolution Wealth Advisors LLC grew its stake in shares of Oracle by 346.0% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock worth $25,000 after buying an additional 346 shares during the last quarter. 1 North Wealth Services LLC purchased a new position in shares of Oracle in the 3rd quarter worth $28,000. Winthrop Partners WNY LLC purchased a new position in shares of Oracle in the 3rd quarter worth $30,000. C J Advisory Inc purchased a new position in shares of Oracle in the 3rd quarter worth $31,000. Finally, Next Capital Management LLC purchased a new position in shares of Oracle in the 2nd quarter worth $36,000. 53.90% of the stock is owned by institutional investors and hedge funds.
ORCL has been the topic of a number of research reports. Barclays restated a “neutral” rating and issued a $61.00 price target on shares of Oracle in a research note on Friday, November 1st. Credit Suisse Group set a $62.00 target price on Oracle and gave the stock a “buy” rating in a report on Tuesday, September 24th. Jefferies Financial Group cut Oracle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $66.00 to $60.00 in a report on Monday, October 7th. Monness Crespi & Hardt reaffirmed a “hold” rating on shares of Oracle in a report on Tuesday, September 10th. Finally, Cowen initiated coverage on Oracle in a report on Friday, August 16th. They issued a “buy” rating and a $65.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. Oracle currently has an average rating of “Hold” and an average price target of $56.80.
In other news, CEO Mark V. Hurd sold 787,500 shares of Oracle stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $51.80, for a total value of $40,792,500.00. Following the sale, the chief executive officer now directly owns 1,038,755 shares of the company’s stock, valued at $53,807,509. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dorian Daley sold 50,000 shares of Oracle stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.01, for a total value of $2,750,500.00. Following the completion of the sale, the executive vice president now directly owns 50,000 shares in the company, valued at $2,750,500. The disclosure for this sale can be found here. Insiders sold 849,786 shares of company stock worth $44,213,156 over the last ninety days. Insiders own 36.60% of the company’s stock.
NYSE:ORCL traded up $0.51 on Friday, reaching $56.49. 5,708,292 shares of the company’s stock traded hands, compared to its average volume of 9,699,096. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 2.67. The stock has a 50-day simple moving average of $54.79 and a 200-day simple moving average of $54.81. The firm has a market cap of $182.74 billion, a PE ratio of 17.88, a P/E/G ratio of 1.65 and a beta of 1.16. Oracle Co. has a 12 month low of $42.40 and a 12 month high of $60.50.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.09. The business had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Oracle had a return on equity of 48.85% and a net margin of 27.71%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. On average, equities analysts anticipate that Oracle Co. will post 3.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were issued a $0.24 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.96 annualized dividend and a dividend yield of 1.70%. Oracle’s dividend payout ratio (DPR) is 30.38%.
Oracle declared that its board has approved a stock buyback program on Wednesday, September 11th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to buy up to 8.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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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