Letko Brosseau & Associates Inc. reduced its position in Oracle Corporation (NYSE:ORCL) by 2.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,791,350 shares of the enterprise software provider’s stock after selling 36,260 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Oracle were worth $89,818,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Bruderman Asset Management LLC purchased a new stake in shares of Oracle during the 2nd quarter valued at $651,000. Bahl & Gaynor Inc. grew its stake in shares of Oracle by 10.0% during the 2nd quarter. Bahl & Gaynor Inc. now owns 49,408 shares of the enterprise software provider’s stock valued at $1,899,000 after buying an additional 4,474 shares during the period. Nationwide Fund Advisors grew its stake in shares of Oracle by 48.4% during the 2nd quarter. Nationwide Fund Advisors now owns 2,286,765 shares of the enterprise software provider’s stock valued at $114,658,000 after buying an additional 746,215 shares during the period. King Luther Capital Management Corp grew its stake in shares of Oracle by 6.5% during the 2nd quarter. King Luther Capital Management Corp now owns 1,049,199 shares of the enterprise software provider’s stock valued at $52,607,000 after buying an additional 63,900 shares during the period. Finally, Dorsey & Whitney Trust CO LLC grew its stake in shares of Oracle by 2.8% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 25,314 shares of the enterprise software provider’s stock valued at $1,267,000 after buying an additional 689 shares during the period. 57.70% of the stock is owned by hedge funds and other institutional investors.
ORCL has been the topic of several recent research reports. BidaskClub lowered shares of Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Oracle from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Royal Bank Of Canada restated a “buy” rating and set a $53.00 target price on shares of Oracle in a report on Sunday, August 27th. ValuEngine upgraded shares of Oracle from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Vetr lowered shares of Oracle from a “buy” rating to a “hold” rating and set a $46.58 target price on the stock. in a report on Sunday, September 3rd. Twelve analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $54.77.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 25.34% and a return on equity of 20.55%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS. equities analysts expect that Oracle Corporation will post 2.68 EPS for the current year.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $50.35, for a total value of $188,812.50. Following the sale, the director now owns 18,125 shares in the company, valued at approximately $912,593.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Berg sold 45,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $48.03, for a total transaction of $2,161,350.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 305,776 shares of company stock worth $14,821,999. Company insiders own 29.00% of the company’s stock.
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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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