BTC Capital Management Inc. increased its stake in shares of Oracle Co. (NYSE:ORCL) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,553 shares of the enterprise software provider’s stock after buying an additional 1,428 shares during the quarter. BTC Capital Management Inc.’s holdings in Oracle were worth $2,581,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Acrospire Investment Management LLC boosted its stake in Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after purchasing an additional 1,800 shares during the last quarter. Burt Wealth Advisors lifted its position in shares of Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after buying an additional 88 shares in the last quarter. Tarbox Family Office Inc. lifted its position in shares of Oracle by 71.1% during the 4th quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock worth $110,000 after buying an additional 965 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of Oracle by 81,200.0% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock worth $118,000 after purchasing an additional 2,436 shares during the period. Finally, Cerebellum GP LLC bought a new stake in shares of Oracle in the 4th quarter worth approximately $126,000. 58.03% of the stock is currently owned by hedge funds and other institutional investors.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $48.40, for a total transaction of $181,500.00. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at $877,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Kurian sold 1,700,000 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the sale, the insider now owns 1,522,983 shares of the company’s stock, valued at $76,590,815.07. The disclosure for this sale can be found here. Insiders sold a total of 1,956,250 shares of company stock worth $98,316,475 over the last ninety days. Insiders own 29.00% of the company’s stock.
A number of equities research analysts have issued reports on ORCL shares. UBS Group set a $55.00 target price on shares of Oracle and gave the company a “neutral” rating in a report on Friday, December 15th. Oppenheimer restated a “hold” rating on shares of Oracle in a research report on Friday, December 15th. Royal Bank of Canada upped their target price on shares of Oracle to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. Morgan Stanley upgraded shares of Oracle from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $46.63 to $47.71 in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $55.76.
Oracle Co. (NYSE ORCL) traded down $0.31 during midday trading on Wednesday, hitting $52.28. 7,270,000 shares of the company traded hands, compared to its average volume of 15,390,000. The company has a market cap of $216,420.00, a price-to-earnings ratio of 22.44, a PEG ratio of 2.02 and a beta of 1.05. Oracle Co. has a 1 year low of $42.40 and a 1 year high of $53.99. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07.
Oracle (NYSE:ORCL) last released its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. Oracle’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. analysts anticipate that Oracle Co. will post 2.68 EPS for the current year.
Oracle announced that its board has initiated a stock buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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