Northwest Bancshares Inc. cut its position in shares of Oracle Co. (NYSE:ORCL) by 1.1% in the third quarter, Holdings Channel reports. The institutional investor owned 18,613 shares of the enterprise software provider’s stock after selling 199 shares during the period. Northwest Bancshares Inc.’s holdings in Oracle were worth $1,024,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Longview Partners Guernsey LTD grew its stake in Oracle by 16.9% in the second quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock valued at $1,267,227,000 after purchasing an additional 3,220,296 shares in the last quarter. Clearbridge Investments LLC grew its stake in Oracle by 1.7% in the first quarter. Clearbridge Investments LLC now owns 20,778,045 shares of the enterprise software provider’s stock valued at $1,115,989,000 after purchasing an additional 345,982 shares in the last quarter. Fisher Asset Management LLC grew its stake in Oracle by 3.8% in the second quarter. Fisher Asset Management LLC now owns 15,567,402 shares of the enterprise software provider’s stock valued at $886,875,000 after purchasing an additional 562,921 shares in the last quarter. Polen Capital Management LLC grew its stake in Oracle by 3.1% in the second quarter. Polen Capital Management LLC now owns 14,444,171 shares of the enterprise software provider’s stock valued at $822,884,000 after purchasing an additional 430,254 shares in the last quarter. Finally, Boston Partners grew its stake in Oracle by 5.0% in the first quarter. Boston Partners now owns 13,088,162 shares of the enterprise software provider’s stock valued at $702,965,000 after purchasing an additional 626,663 shares in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.
A number of research firms have weighed in on ORCL. JPMorgan Chase & Co. set a $56.00 price target on Oracle and gave the company a “neutral” rating in a research note on Thursday, September 12th. Credit Suisse Group set a $62.00 price target on Oracle and gave the company a “buy” rating in a research note on Tuesday, September 24th. William Blair restated a “hold” rating on shares of Oracle in a research note on Thursday, September 12th. ValuEngine downgraded Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Macquarie reiterated a “hold” rating on shares of Oracle in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.32.
NYSE:ORCL traded up $0.70 during mid-day trading on Wednesday, hitting $54.75. 5,755,773 shares of the stock were exchanged, compared to its average volume of 13,930,569. The stock has a market capitalization of $181.00 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.62 and a beta of 1.16. The firm’s 50-day simple moving average is $53.39 and its 200 day simple moving average is $54.61. The company has a debt-to-equity ratio of 2.67, a quick ratio of 2.25 and a current ratio of 2.25. Oracle Co. has a fifty-two week low of $42.40 and a fifty-two week high of $60.50.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.09. The business had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Oracle had a return on equity of 48.85% and a net margin of 27.71%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. On average, analysts predict that Oracle Co. will post 3.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.96 annualized dividend and a yield of 1.75%. Oracle’s payout ratio is currently 30.38%.
Oracle announced that its board has authorized a stock buyback program on Wednesday, September 11th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase up to 8.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, CEO Mark V. Hurd sold 787,500 shares of Oracle stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $51.80, for a total transaction of $40,792,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,038,755 shares of the company’s stock, valued at approximately $53,807,509. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Renee Jo James sold 3,000 shares of Oracle stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $53.56, for a total value of $160,680.00. Following the sale, the director now directly owns 32,886 shares of the company’s stock, valued at $1,761,374.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 935,143 shares of company stock valued at $49,307,209. 36.60% of the stock is currently owned by insiders.
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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