First Manhattan Co. grew its stake in shares of Oracle Co. (NYSE:ORCL) by 26.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,365,351 shares of the enterprise software provider’s stock after buying an additional 924,964 shares during the quarter. Oracle makes up 1.1% of First Manhattan Co.’s holdings, making the stock its 13th biggest holding. First Manhattan Co. owned approximately 0.11% of Oracle worth $206,393,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of ORCL. Steward Partners Investment Advisory LLC grew its position in shares of Oracle by 31.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 85,753 shares of the enterprise software provider’s stock valued at $4,054,000 after acquiring an additional 20,289 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Oracle in the 4th quarter worth approximately $2,437,000. Intermede Investment Partners Ltd boosted its holdings in Oracle by 9.9% in the 4th quarter. Intermede Investment Partners Ltd now owns 1,180,203 shares of the enterprise software provider’s stock worth $55,800,000 after buying an additional 106,731 shares during the period. TRUE Private Wealth Advisors bought a new position in Oracle in the 4th quarter worth approximately $441,000. Finally, Personal Capital Advisors Corp lifted its stake in Oracle by 7.2% in the 4th quarter. Personal Capital Advisors Corp now owns 116,705 shares of the enterprise software provider’s stock worth $5,518,000 after purchasing an additional 7,889 shares in the last quarter. 58.03% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on the stock. Barclays increased their target price on shares of Oracle from $56.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday. They noted that the move was a valuation call. OTR Global cut shares of Oracle to a “positive” rating in a research report on Friday, March 9th. Cleveland Research lowered shares of Oracle from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 20th. Credit Suisse Group reissued a “buy” rating and set a $62.00 price target on shares of Oracle in a research report on Sunday, February 18th. Finally, Vetr cut shares of Oracle from a “buy” rating to a “hold” rating and set a $51.30 target price for the company. in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $55.76.
Oracle Co. (NYSE:ORCL) opened at $52.58 on Wednesday. Oracle Co. has a fifty-two week low of $42.40 and a fifty-two week high of $53.48. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $217,660.00, a price-to-earnings ratio of 22.57, a PEG ratio of 2.02 and a beta of 1.05.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. Oracle’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. research analysts expect that Oracle Co. will post 2.68 earnings per share for the current year.
Oracle announced that its board has authorized a stock buyback plan on Thursday, December 14th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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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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