Sterling Capital Management LLC grew its position in Oracle Co. (NYSE:ORCL) by 66.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 431,813 shares of the enterprise software provider’s stock after buying an additional 171,870 shares during the quarter. Sterling Capital Management LLC’s holdings in Oracle were worth $20,878,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Acrospire Investment Management LLC lifted its stake in shares of Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after purchasing an additional 1,800 shares during the last quarter. Burt Wealth Advisors lifted its stake in shares of Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after purchasing an additional 88 shares during the last quarter. IHT Wealth Management LLC lifted its stake in shares of Oracle by 65.9% during the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after purchasing an additional 947 shares during the last quarter. ETF Managers Group LLC purchased a new stake in shares of Oracle during the 2nd quarter worth $133,000. Finally, Monroe Bank & Trust MI lifted its stake in shares of Oracle by 30.5% during the 2nd quarter. Monroe Bank & Trust MI now owns 2,885 shares of the enterprise software provider’s stock worth $144,000 after purchasing an additional 675 shares during the last quarter. Institutional investors and hedge funds own 58.36% of the company’s stock.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $48.40, for a total value of $181,500.00. Following the transaction, the director now owns 18,125 shares in the company, valued at $877,250. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $52.00, for a total value of $5,200,000.00. Following the completion of the transaction, the executive vice president now owns 37,576 shares in the company, valued at approximately $1,953,952. The disclosure for this sale can be found here. Insiders have sold 1,956,250 shares of company stock worth $98,316,475 in the last quarter. 29.00% of the stock is currently owned by company insiders.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. Oracle’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 earnings per share. equities research analysts anticipate that Oracle Co. will post 2.68 EPS for the current year.
Oracle announced that its board has approved a stock repurchase plan on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a yield of 1.50%. Oracle’s dividend payout ratio is currently 32.62%.
A number of brokerages recently weighed in on ORCL. Credit Suisse Group restated a “buy” rating and set a $62.00 price objective on shares of Oracle in a research note on Sunday. Vetr cut Oracle from a “buy” rating to a “hold” rating and set a $51.30 price objective for the company. in a research note on Thursday. ValuEngine upgraded Oracle from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Instinet started coverage on Oracle in a research report on Wednesday, January 24th. They set a “buy” rating and a $51.12 target price on the stock. Finally, Nomura started coverage on Oracle in a research report on Tuesday, January 23rd. They set a “buy” rating and a $64.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Oracle presently has a consensus rating of “Buy” and a consensus price target of $55.38.
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Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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