Public Employees Retirement Association of Colorado cut its holdings in shares of Oracle Co. (NYSE:ORCL) by 0.3% during the third quarter, HoldingsChannel.com reports. The firm owned 3,540,921 shares of the enterprise software provider’s stock after selling 9,478 shares during the period. Oracle accounts for 1.2% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 15th biggest position. Public Employees Retirement Association of Colorado’s holdings in Oracle were worth $194,857,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Evolution Wealth Advisors LLC increased its position in shares of Oracle by 346.0% during the second quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock worth $25,000 after purchasing an additional 346 shares in the last quarter. 1 North Wealth Services LLC acquired a new position in shares of Oracle during the third quarter worth $28,000. Winthrop Partners WNY LLC acquired a new position in shares of Oracle during the third quarter worth $30,000. C J Advisory Inc acquired a new position in shares of Oracle during the third quarter worth $31,000. Finally, Next Capital Management LLC acquired a new position in shares of Oracle during the second quarter worth $36,000. 53.90% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Dorian Daley sold 50,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the completion of the transaction, the executive vice president now owns 50,000 shares in the company, valued at approximately $2,750,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 4,643 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $56.59, for a total transaction of $262,747.37. Following the transaction, the director now owns 38,562 shares of the company’s stock, valued at approximately $2,182,223.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 849,786 shares of company stock worth $44,213,156. Corporate insiders own 36.60% of the company’s stock.
Oracle (NYSE:ORCL) last posted its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The business had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the company posted $0.71 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts predict that Oracle Co. will post 3.47 EPS for the current year.
Oracle declared that its board has authorized a stock repurchase program on Wednesday, September 11th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the enterprise software provider to reacquire up to 8.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, October 9th. Oracle’s payout ratio is currently 30.38%.
A number of equities research analysts have recently weighed in on ORCL shares. Wedbush reissued a “neutral” rating and set a $55.00 price objective on shares of Oracle in a report on Friday, September 13th. Royal Bank of Canada set a $57.00 price objective on shares of Oracle and gave the company a “neutral” rating in a report on Thursday, September 12th. Stifel Nicolaus reissued a “hold” rating on shares of Oracle in a report on Thursday, September 12th. BMO Capital Markets boosted their price objective on shares of Oracle from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Friday, September 27th. They noted that the move was a valuation call. Finally, Monness Crespi & Hardt reissued a “hold” rating on shares of Oracle in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $56.80.
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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