Jensen Investment Management Inc. increased its position in Oracle Corporation (NYSE:ORCL) by 16.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,366,960 shares of the enterprise software provider’s stock after purchasing an additional 1,048,890 shares during the period. Oracle makes up 4.8% of Jensen Investment Management Inc.’s holdings, making the stock its 6th biggest holding. Jensen Investment Management Inc.’s holdings in Oracle were worth $356,193,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ORCL. Vanguard Group Inc. increased its position in Oracle by 2.6% during 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 purchasing an additional 5,270,359 shares during the period. BlackRock Inc. increased its position in Oracle by 2.5% during the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock valued at $9,716,707,000 after purchasing an additional 4,678,977 shares during the period. Harris Associates L P increased its position in Oracle by 17.9% during the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after purchasing an additional 7,427,501 shares during the period. Northern Trust Corp boosted its holdings in shares of Oracle by 4.6% during the 2nd quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock valued at $2,110,799,000 after buying an additional 1,835,835 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Oracle by 1.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 41,717,395 shares of the enterprise software provider’s stock valued at $2,091,710,000 after buying an additional 482,220 shares in the last quarter. 57.89% of the stock is currently owned by institutional investors.
Oracle Corporation (ORCL) opened at $48.47 on Friday. The stock has a market cap of $202,290.00, a PE ratio of 20.80, a P/E/G ratio of 1.84 and a beta of 1.05. Oracle Corporation has a one year low of $38.38 and a one year high of $53.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The company 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 quarter in the previous year, the business posted $0.61 EPS. analysts expect that Oracle Corporation will post 2.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, January 9th. Oracle’s dividend payout ratio is currently 32.62%.
Oracle declared that its board has initiated a stock buyback plan on Thursday, December 14th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
A number of analysts have recently commented on the stock. Morgan Stanley upgraded shares of Oracle from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $46.63 to $47.71 in a report on Wednesday. Drexel Hamilton restated a “buy” rating and set a $62.00 target price on shares of Oracle in a report on Tuesday, January 2nd. ValuEngine upgraded shares of Oracle from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research cut shares of Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Finally, Wedbush restated a “buy” rating and set a $58.00 target price on shares of Oracle in a report on Friday, December 15th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.28.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total transaction of $183,112.50. Following the transaction, the director now owns 18,125 shares in the company, valued at approximately $885,043.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the transaction, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The disclosure for this sale can be found here. Insiders have sold a total of 111,250 shares of company stock worth $5,306,238 in the last 90 days. 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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