Pinkerton Retirement Specialists LLC lifted its holdings in Oracle Co. (NYSE:ORCL) by 4.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,340 shares of the enterprise software provider’s stock after purchasing an additional 1,359 shares during the quarter. Pinkerton Retirement Specialists LLC’s holdings in Oracle were worth $1,719,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of ORCL. Acadian Asset Management LLC increased its position in Oracle by 17.1% during the 2nd quarter. Acadian Asset Management LLC now owns 57,907 shares of the enterprise software provider’s stock valued at $2,551,000 after purchasing an additional 8,453 shares during the period. Alps Advisors Inc. increased its position in Oracle by 6,303.9% during the 2nd quarter. Alps Advisors Inc. now owns 731,200 shares of the enterprise software provider’s stock valued at $34,571,000 after purchasing an additional 719,782 shares during the period. Glenview State Bank Trust DEPT. increased its position in Oracle by 48.2% during the 2nd quarter. Glenview State Bank Trust DEPT. now owns 9,930 shares of the enterprise software provider’s stock valued at $437,000 after purchasing an additional 3,230 shares during the period. Telos Capital Management Inc. increased its position in Oracle by 13.5% during the 2nd quarter. Telos Capital Management Inc. now owns 37,447 shares of the enterprise software provider’s stock valued at $1,650,000 after purchasing an additional 4,468 shares during the period. Finally, First National Trust Co increased its position in Oracle by 2.9% during the 2nd quarter. First National Trust Co now owns 139,705 shares of the enterprise software provider’s stock valued at $6,155,000 after purchasing an additional 3,876 shares during the period. 50.95% of the stock is owned by hedge funds and other institutional investors.
Shares of ORCL opened at $48.76 on Friday. Oracle Co. has a 12-month low of $42.57 and a 12-month high of $53.48. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $198.29 billion, a P/E ratio of 17.29, a PEG ratio of 1.61 and a beta of 1.12.
Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The company had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.26 billion. During the same period last year, the business earned $0.62 EPS. Oracle’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that Oracle Co. will post 3.06 earnings per share for the current fiscal year.
Oracle declared that its Board of Directors has authorized a stock repurchase plan on Monday, September 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, EVP Dorian Daley sold 131,696 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $50.93, for a total value of $6,707,277.28. Following the transaction, the executive vice president now directly owns 109,615 shares in the company, valued at approximately $5,582,691.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Monday, October 15th. The stock was sold at an average price of $47.26, for a total value of $177,225.00. Following the completion of the transaction, the director now owns 27,969 shares in the company, valued at $1,321,814.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,946 shares of company stock worth $7,257,365. 32.00% of the stock is owned by company insiders.
A number of analysts have weighed in on the stock. Credit Suisse Group reissued a “buy” rating and set a $60.00 target price on shares of Oracle in a research report on Tuesday, September 18th. Royal Bank of Canada increased their target price on shares of Oracle from $52.00 to $53.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 18th. Goldman Sachs Group restated a “buy” rating and set a $55.00 price target on shares of Oracle in a report on Tuesday, September 18th. KeyCorp restated a “hold” rating on shares of Oracle in a report on Wednesday, September 12th. Finally, Wedbush restated a “neutral” rating and set a $49.00 price target on shares of Oracle in a report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $53.71.
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Oracle Company Profile
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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