High Pointe Capital Management LLC purchased a new stake in shares of Oracle Co. (NYSE:ORCL) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 26,710 shares of the enterprise software provider’s stock, valued at approximately $1,377,000. Oracle makes up 1.9% of High Pointe Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position.
A number of other hedge funds have also made changes to their positions in the business. FMR LLC boosted 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 acquiring an additional 8,401,411 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in Oracle during the 2nd quarter worth $218,896,000. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Oracle by 787.8% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,944,051 shares of the enterprise software provider’s stock worth $85,654,000 after acquiring an additional 1,725,077 shares during the last quarter. Putnam Investments LLC boosted its holdings in Oracle by 202.1% during the 2nd quarter. Putnam Investments LLC now owns 2,136,058 shares of the enterprise software provider’s stock worth $94,115,000 after acquiring an additional 1,428,924 shares during the last quarter. Finally, Royal London Asset Management Ltd. purchased a new position in Oracle during the 2nd quarter worth $54,770,000. Institutional investors and hedge funds own 50.95% of the company’s stock.
A number of equities analysts have issued reports on ORCL shares. Nomura set a $58.00 price objective on shares of Oracle and gave the stock a “buy” rating in a report on Tuesday, September 18th. Credit Suisse Group reaffirmed a “buy” rating and set a $60.00 price objective on shares of Oracle in a report on Tuesday, September 18th. Goldman Sachs Group reaffirmed a “buy” rating and set a $55.00 price objective on shares of Oracle in a report on Tuesday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of Oracle in a report on Wednesday, September 12th. Finally, Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Seventeen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Oracle presently has an average rating of “Hold” and an average price target of $53.71.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $185,325.00. Following the sale, the director now directly owns 27,969 shares of the company’s stock, valued at $1,382,227.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Dorian Daley sold 131,696 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the sale, the executive vice president now directly owns 109,615 shares in the company, valued at $5,582,691.95. The disclosure for this sale can be found here. Insiders sold a total of 142,946 shares of company stock worth $7,257,365 over the last three months. 32.00% of the stock is owned by insiders.
Shares of NYSE:ORCL opened at $49.55 on Tuesday. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $211.82 billion, a P/E ratio of 17.65, a P/E/G ratio of 1.72 and a beta of 1.12. Oracle Co. has a fifty-two week low of $42.57 and a fifty-two week high of $53.48.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The company had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. On average, analysts expect that Oracle Co. will post 3.06 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, October 15th. Oracle’s dividend payout ratio (DPR) is currently 26.95%.
Oracle announced that its board has approved a stock buyback plan on Monday, September 17th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to repurchase up to 5.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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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