TIAA CREF Investment Management LLC boosted its stake in Oracle Corporation (NYSE:ORCL) by 10.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,621,618 shares of the enterprise software provider’s stock after buying an additional 1,926,484 shares during the quarter. Oracle makes up 0.7% of TIAA CREF Investment Management LLC’s investment portfolio, making the stock its 18th largest holding. TIAA CREF Investment Management LLC owned 0.50% of Oracle worth $1,033,968,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ORCL. Morningstar Investment Services LLC increased its position in shares of Oracle by 0.8% during the 1st quarter. Morningstar Investment Services LLC now owns 1,122,953 shares of the enterprise software provider’s stock valued at $50,095,000 after purchasing an additional 9,398 shares during the last quarter. DE Burlo Group Inc. bought a new position in shares of Oracle during the 1st quarter worth $205,000. Allegis Investment Advisors LLC grew its stake in shares of Oracle by 172.5% during the 1st quarter. Allegis Investment Advisors LLC now owns 17,767 shares of the enterprise software provider’s stock worth $793,000 after acquiring an additional 11,248 shares during the period. Lincoln National Corp grew its stake in shares of Oracle by 6.3% during the 1st quarter. Lincoln National Corp now owns 9,422 shares of the enterprise software provider’s stock worth $420,000 after acquiring an additional 555 shares during the period. Finally, Thomaspartners Inc. grew its stake in shares of Oracle by 9.5% during the 1st quarter. Thomaspartners Inc. now owns 4,337,983 shares of the enterprise software provider’s stock worth $193,517,000 after acquiring an additional 374,570 shares during the period. 57.70% of the stock is owned by institutional investors and hedge funds.
Shares of Oracle Corporation (ORCL) traded down $0.07 during midday trading on Tuesday, hitting $48.33. The company had a trading volume of 8,136,373 shares, compared to its average volume of 13,241,463. The stock has a market cap of $207,046.64, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The company has a current ratio of 3.63, a quick ratio of 3.61 and a debt-to-equity ratio of 0.86. Oracle Corporation has a 52 week low of $38.30 and a 52 week high of $53.14.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. Oracle had a return on equity of 20.55% and a net margin of 25.34%. Oracle’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. sell-side analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the company. Moffett Nathanson assumed coverage on Oracle in a research note on Wednesday, September 6th. They set a “buy” rating and a $65.00 price target for the company. Vetr upgraded Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 target price for the company in a research note on Monday, September 18th. Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, August 18th. BidaskClub downgraded Oracle from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Credit Suisse Group restated an “overweight” rating and issued a $62.00 target price on shares of Oracle in a research note on Monday, September 18th. Eleven equities research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.85.
In other Oracle news, Director Jeffrey Berg sold 45,000 shares of Oracle stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $48.03, for a total value of $2,161,350.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Dorian Daley sold 76,703 shares of Oracle stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $49.00, for a total value of $3,758,447.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 305,776 shares of company stock worth $14,821,999. 29.00% of the stock is currently owned by insiders.
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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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