Korea Investment CORP trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 17.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,757,706 shares of the enterprise software provider’s stock after selling 373,119 shares during the period. Korea Investment CORP’s holdings in Oracle were worth $90,627,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in ORCL. Truvestments Capital LLC acquired a new position in shares of Oracle during the third quarter worth $107,000. WESPAC Advisors SoCal LLC acquired a new position in shares of Oracle during the third quarter worth $119,000. ELM Advisors LLC acquired a new position in shares of Oracle during the third quarter worth $122,000. Palo Capital Inc. acquired a new position in shares of Oracle during the third quarter worth $141,000. Finally, Kiley Juergens Wealth Management LLC lifted 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 worth $141,000 after purchasing an additional 1,140 shares in the last quarter. 50.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE ORCL opened at $47.90 on Friday. Oracle Co. has a twelve month low of $42.57 and a twelve 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. The stock has a market capitalization of $199.49 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12.
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, beating the Zacks’ consensus estimate of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The company had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.26 billion. During the same period in the prior year, the company earned $0.62 EPS. Oracle’s revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that Oracle Co. will post 3.06 EPS for the current year.
Oracle announced that its board has initiated a stock buyback program on Monday, September 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
ORCL has been the topic of a number of recent research reports. Barclays boosted their target price on shares of Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 7th. Nomura set a $58.00 target price on shares of Oracle and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Bank of America boosted their target price on shares of Oracle from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 18th. Rosenblatt Securities reissued a “hold” rating and set a $51.00 target price on shares of Oracle in a research report on Tuesday, October 30th. Finally, Wells Fargo & Co reduced their target price on shares of Oracle from $62.50 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.71.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $47.26, for a total transaction of $177,225.00. Following the sale, the director now owns 27,969 shares in the company, valued at approximately $1,321,814.94. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Dorian Daley sold 131,696 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 109,615 shares in the company, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. Insiders sold a total of 142,946 shares of company stock valued at $7,257,365 over the last three months. 32.00% of the stock is owned by corporate insiders.
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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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