CIBC World Markets Inc. grew its stake in shares of Oracle Corporation (NYSE:ORCL) by 51.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,515 shares of the enterprise software provider’s stock after buying an additional 78,482 shares during the period. CIBC World Markets Inc.’s holdings in Oracle were worth $11,608,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in Oracle by 1.0% in the 1st quarter. State Street Corp now owns 123,195,917 shares of the enterprise software provider’s stock worth $5,495,769,000 after acquiring an additional 1,187,802 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Oracle by 1.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 41,717,395 shares of the enterprise software provider’s stock worth $2,091,710,000 after acquiring an additional 482,220 shares during the last quarter. Harris Associates L P increased its stake in Oracle by 0.4% in the 1st quarter. Harris Associates L P now owns 41,561,715 shares of the enterprise software provider’s stock worth $1,854,068,000 after acquiring an additional 156,122 shares during the last quarter. Boston Partners increased its stake in Oracle by 5.4% in the 2nd quarter. Boston Partners now owns 19,225,637 shares of the enterprise software provider’s stock worth $963,974,000 after acquiring an additional 991,458 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in Oracle by 6,353.4% in the 1st quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock worth $831,551,000 after acquiring an additional 18,351,920 shares during the last quarter. 57.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. Moffett Nathanson started coverage on Oracle in a research note on Wednesday, September 6th. They issued a “buy” rating and a $65.00 price objective on the stock. Vetr raised Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 target price on the stock in a research report on Monday, September 18th. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 18th. BidaskClub cut Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, Credit Suisse Group reissued an “overweight” rating and issued a $62.00 price target on shares of Oracle in a research report on Monday, September 18th. Twelve analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $54.77.
In related news, Director Jeffrey Berg sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $48.03, for a total transaction of $2,161,350.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Dorian Daley sold 25,776 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $48.05, for a total transaction of $1,238,536.80. Following the transaction, the executive vice president now owns 30,977 shares in the company, valued at approximately $1,488,444.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 305,776 shares of company stock valued at $14,821,999. 29.00% of the stock is currently owned by corporate insiders.
Oracle Corporation (NYSE ORCL) traded up $0.10 during midday trading on Friday, reaching $48.52. The company’s stock had a trading volume of 13,482,800 shares, compared to its average volume of 13,260,919. The firm has a market cap of $202,080.17, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.63 and a quick ratio of 3.61. Oracle Corporation has a 52 week low of $38.30 and a 52 week high of $53.14.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $9.21 billion for the quarter, compared to analyst estimates of $9.03 billion. Oracle had a return on equity of 20.55% and a net margin of 25.34%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 EPS. research analysts predict that Oracle Corporation will post 2.68 earnings per share for the current year.
Oracle Company Profile
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.