Webster Bank N. A. raised its position in Oracle Co. (NYSE:ORCL) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,005 shares of the enterprise software provider’s stock after purchasing an additional 23,518 shares during the period. Webster Bank N. A.’s holdings in Oracle were worth $5,863,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in ORCL. Vanguard Group Inc. grew its position in shares of Oracle by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after buying an additional 5,270,359 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Oracle by 2.5% in the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock worth $9,716,707,000 after acquiring an additional 4,678,977 shares during the period. Harris Associates L P lifted its stake in shares of Oracle by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after acquiring an additional 7,427,501 shares during the period. Northern Trust Corp lifted its stake in shares of Oracle by 4.6% in the 2nd quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock worth $2,110,799,000 after acquiring an additional 1,835,835 shares during the period. Finally, First Eagle Investment Management LLC lifted its stake in shares of 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 period. 58.36% of the stock is currently owned by institutional investors.
In other news, insider Thomas Kurian sold 1,700,000 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the transaction, the insider now directly owns 1,522,983 shares of the company’s stock, valued at $76,590,815.07. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $48.40, for a total transaction of $181,500.00. Following the transaction, the director now directly owns 18,125 shares in the company, valued at $877,250. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,956,250 shares of company stock worth $98,316,475. 29.00% of the stock is currently owned by corporate insiders.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $9.63 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. Oracle’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. equities research analysts predict that Oracle Co. will post 2.68 EPS for the current year.
Oracle declared that its board has approved a share repurchase program on Thursday, December 14th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Several analysts recently commented on ORCL shares. Cleveland Research cut shares of Oracle from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 20th. Credit Suisse Group reiterated a “buy” rating and issued a $62.00 price objective on shares of Oracle in a research note on Sunday, February 18th. Vetr cut shares of Oracle from a “buy” rating to a “hold” rating and set a $51.30 price objective for the company. in a research note on Thursday, February 15th. ValuEngine upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Instinet started coverage on shares of Oracle in a research note on Wednesday, January 24th. They issued a “buy” rating and a $51.12 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $55.38.
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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