Candriam Luxembourg S.C.A. raised its stake in Oracle Corp. (NYSE:ORCL) by 9.5% during the second quarter, Holdings Channel reports. The fund owned 243,173 shares of the enterprise software provider’s stock after buying an additional 21,131 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Oracle Corp. were worth $9,954,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Cribstone Capital Management LLC purchased a new position in Oracle Corp. during the second quarter worth about $102,000. FCM Investments TX boosted its position in Oracle Corp. by 20.0% in the second quarter. FCM Investments TX now owns 3,000 shares of the enterprise software provider’s stock worth $123,000 after buying an additional 500 shares during the period. Ironwood Financial llc purchased a new position in Oracle Corp. during the first quarter worth about $147,000. Gardner Russo & Gardner LLC purchased a new position in Oracle Corp. during the first quarter worth about $205,000. Finally, Natixis purchased a new position in Oracle Corp. during the first quarter worth about $230,000. 58.24% of the stock is currently owned by institutional investors and hedge funds.
Oracle Corp. (NYSE:ORCL) traded down 1.58% during midday trading on Tuesday, hitting $38.01. 14,950,508 shares of the company were exchanged. The firm has a market capitalization of $156.05 billion, a PE ratio of 18.06 and a beta of 1.23. Oracle Corp. has a 1-year low of $33.13 and a 1-year high of $42.00. The stock has a 50 day moving average of $40.07 and a 200 day moving average of $40.29.
Oracle Corp. (NYSE:ORCL) last released its earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Oracle Corp. had a net margin of 24.16% and a return on equity of 22.10%. The business had revenue of $8.60 billion for the quarter. During the same quarter in the prior year, the company posted $0.53 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Oracle Corp. will post $2.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, October 7th. Oracle Corp.’s dividend payout ratio is currently 28.57%.
A number of equities analysts have issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating and set a $51.00 target price on shares of Oracle Corp. in a report on Friday, July 15th. Macquarie restated an “outperform” rating on shares of Oracle Corp. in a report on Tuesday, July 19th. Atlantic Securities cut Oracle Corp. from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $48.00 to $44.00 in a report on Tuesday, July 19th. BTIG Research raised their price objective on Oracle Corp. from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, July 14th. Finally, Vetr cut Oracle Corp. from a “buy” rating to a “hold” rating and set a $41.24 price objective for the company. in a report on Monday, August 15th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. Oracle Corp. presently has an average rating of “Buy” and an average target price of $44.76.
In other Oracle Corp. news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $41.78, for a total value of $156,675.00. Following the sale, the director now owns 8,281 shares of the company’s stock, valued at approximately $345,980.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John F. Fowler sold 500,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $41.17, for a total transaction of $20,585,000.00. Following the completion of the sale, the executive vice president now directly owns 119,645 shares in the company, valued at approximately $4,925,784.65. The disclosure for this sale can be found here. Corporate insiders own 29.00% of the company’s stock.
About Oracle Corp.
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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