Elmwood Wealth Management Inc. bought a new stake in Oracle Co. (NYSE:ORCL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,285 shares of the enterprise software provider’s stock, valued at approximately $59,000.
Several other institutional investors have also recently bought and sold shares of ORCL. Norges Bank bought a new stake in shares of Oracle in the fourth quarter valued at approximately $1,083,969,000. Franklin Resources Inc. boosted its stake in shares of Oracle by 68.5% in the fourth quarter. Franklin Resources Inc. now owns 23,962,890 shares of the enterprise software provider’s stock valued at $1,269,542,000 after buying an additional 9,739,302 shares during the period. California Public Employees Retirement System boosted its stake in shares of Oracle by 39.8% in the first quarter. California Public Employees Retirement System now owns 10,076,245 shares of the enterprise software provider’s stock valued at $486,985,000 after buying an additional 2,868,396 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Oracle by 21.7% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 14,698,021 shares of the enterprise software provider’s stock valued at $778,701,000 after buying an additional 2,624,509 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of Oracle by 16.9% in the fourth quarter. Macquarie Group Ltd. now owns 16,536,821 shares of the enterprise software provider’s stock valued at $876,120,000 after buying an additional 2,396,424 shares during the period. 48.14% of the stock is currently owned by institutional investors.
NYSE ORCL opened at $53.07 on Tuesday. The company has a market capitalization of $169.57 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.41 and a beta of 0.89. Oracle Co. has a twelve month low of $39.71 and a twelve month high of $60.50. The stock has a fifty day simple moving average of $52.99 and a 200 day simple moving average of $52.87. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 3.31.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, March 12th. The enterprise software provider reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.01. The business had revenue of $9.80 billion during the quarter, compared to the consensus estimate of $9.75 billion. Oracle had a return on equity of 64.68% and a net margin of 27.06%. Oracle’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. Research analysts expect that Oracle Co. will post 3.46 earnings per share for the current fiscal year.
Oracle announced that its Board of Directors has authorized a share buyback program on Thursday, March 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the enterprise software provider to purchase up to 9.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other Oracle news, Director Charles W. Moorman purchased 20,000 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was purchased at an average cost of $48.59 per share, for a total transaction of $971,800.00. Following the acquisition, the director now owns 38,561 shares in the company, valued at approximately $1,873,678.99. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles W. Moorman purchased 10,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were acquired at an average price of $45.23 per share, with a total value of $452,300.00. Following the completion of the acquisition, the director now owns 18,561 shares in the company, valued at approximately $839,514.03. The disclosure for this purchase can be found here. Company insiders own 36.60% of the company’s stock.
Several equities research analysts have weighed in on ORCL shares. Goldman Sachs Group restated a “buy” rating and set a $52.00 target price on shares of Oracle in a research note on Thursday, March 26th. Exane BNP Paribas cut Oracle from an “outperform” rating to a “neutral” rating and set a $56.00 target price for the company. in a research note on Monday. Morgan Stanley cut their target price on Oracle from $63.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, March 16th. JPMorgan Chase & Co. upgraded Oracle from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $51.00 to $55.00 in a research note on Friday, March 20th. Finally, Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, April 21st. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.67.
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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