Oregon Public Employees Retirement Fund reduced its holdings in Oracle Co. (NYSE:ORCL) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 316,892 shares of the enterprise software provider’s stock after selling 15,700 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Oracle were worth $16,339,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of Oracle during the third quarter valued at approximately $107,000. WESPAC Advisors SoCal LLC bought a new stake in shares of Oracle during the third quarter valued at approximately $119,000. ELM Advisors LLC bought a new stake in shares of Oracle during the third quarter valued at approximately $122,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Oracle during the second quarter valued at approximately $126,000. Finally, Kiley Juergens Wealth Management LLC boosted its position in shares of Oracle by 70.9% during the third quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after purchasing an additional 1,140 shares in the last quarter. Hedge funds and other institutional investors own 53.45% of the company’s stock.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $49.42, for a total value of $185,325.00. Following the completion of the transaction, the director now owns 27,969 shares in the company, valued at $1,382,227.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dorian Daley sold 131,696 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $50.93, for a total value of $6,707,277.28. Following the completion of the transaction, the executive vice president now owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. Insiders have sold 142,946 shares of company stock valued at $7,248,965 in the last quarter. 32.00% of the stock is owned by company insiders.
Shares of NYSE:ORCL opened at $48.83 on Friday. The firm has a market cap of $202.18 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.64 and a beta of 1.12. 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 current ratio of 3.43 and a quick ratio of 3.43.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.26 billion. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. As a group, research analysts anticipate that Oracle Co. will post 3.06 EPS for the current year.
Oracle declared that its board has authorized a stock buyback program on Monday, September 17th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Monday, October 15th. Oracle’s payout ratio is 26.95%.
Several research firms recently weighed in on ORCL. Zacks Investment Research upgraded Oracle from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Societe Generale set a $50.00 price target on Oracle and gave the company a “neutral” rating in a research report on Tuesday, August 14th. Needham & Company LLC began coverage on Oracle in a research report on Monday, October 22nd. They set a “hold” rating on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $53.00 price target on shares of Oracle in a research report on Tuesday, September 18th. Finally, Goldman Sachs Group restated a “buy” rating and set a $55.00 price target on shares of Oracle in a research report on Tuesday, September 18th. Seventeen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Oracle presently has an average rating of “Hold” and an average price target of $53.71.
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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