Panagora Asset Management Inc. increased its holdings in Oracle Co. (NYSE:ORCL) by 9.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 109,720 shares of the enterprise software provider’s stock after buying an additional 9,272 shares during the period. Panagora Asset Management Inc.’s holdings in Oracle were worth $5,657,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Godshalk Welsh Capital Management Inc. grew its stake in shares of Oracle by 6.1% in the 3rd quarter. Godshalk Welsh Capital Management Inc. now owns 31,400 shares of the enterprise software provider’s stock worth $1,619,000 after purchasing an additional 1,800 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Oracle in the 2nd quarter worth approximately $218,896,000. Thompson Siegel & Walmsley LLC grew its stake in shares of Oracle by 2.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 304,726 shares of the enterprise software provider’s stock worth $13,426,000 after purchasing an additional 6,366 shares during the last quarter. Trexquant Investment LP grew its stake in shares of Oracle by 1,874.8% in the 3rd quarter. Trexquant Investment LP now owns 100,219 shares of the enterprise software provider’s stock worth $5,167,000 after purchasing an additional 95,144 shares during the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of Oracle by 76.8% in the 2nd quarter. Sterling Capital Management LLC now owns 482,931 shares of the enterprise software provider’s stock worth $21,278,000 after purchasing an additional 209,853 shares during the last quarter. 50.97% of the stock is owned by institutional investors and hedge funds.
Oracle stock opened at $46.68 on Friday. The company has a market capitalization of $201.81 billion, a PE ratio of 16.55, a PEG ratio of 1.64 and a beta of 1.11. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 1.41. Oracle Co. has a fifty-two week low of $42.57 and a fifty-two week high of $53.48.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 EPS 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 firm had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.26 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, equities research analysts predict that Oracle Co. will post 3.06 earnings per share for the current fiscal year.
Oracle announced that its Board of Directors has authorized a share buyback program on Monday, September 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other Oracle news, EVP Dorian Daley sold 131,696 shares of Oracle stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the completion of the sale, the executive vice president now directly owns 109,615 shares in the company, valued at $5,582,691.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $185,325.00. Following the completion of the sale, the director now owns 27,969 shares of the company’s stock, valued at $1,382,227.98. The disclosure for this sale can be found here. Insiders have sold 142,946 shares of company stock worth $7,257,365 over the last ninety days. 32.00% of the stock is currently owned by insiders.
Several equities analysts have recently 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 research note on Tuesday, September 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Oracle in a research note on Tuesday, September 18th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Oracle in a research note on Tuesday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of Oracle in a research note on Wednesday, September 12th. Finally, Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a research note 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. The stock presently has an average rating of “Hold” and a consensus target price of $53.71.
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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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