Huber Capital Management LLC reduced its holdings in shares of Oracle Co. (NYSE:ORCL) by 11.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 345,100 shares of the enterprise software provider’s stock after selling 46,000 shares during the period. Huber Capital Management LLC’s holdings in Oracle were worth $17,793,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of ORCL. Truvestments Capital LLC acquired a new stake in shares of Oracle in the 3rd quarter valued at about $107,000. WESPAC Advisors SoCal LLC acquired a new stake in shares of Oracle in the 3rd quarter valued at about $119,000. ELM Advisors LLC acquired a new stake in shares of Oracle in the 3rd quarter valued at about $122,000. Kiley Juergens Wealth Management LLC grew its stake in shares of Oracle by 70.9% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after buying an additional 1,140 shares during the period. Finally, Palo Capital Inc. acquired a new stake in shares of Oracle in the 3rd quarter valued at about $141,000. Hedge funds and other institutional investors own 50.97% of the company’s stock.
In other Oracle news, EVP Dorian Daley sold 131,696 shares of Oracle stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the transaction, the executive vice president now owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $185,325.00. Following the transaction, the director now directly owns 27,969 shares in the company, valued at approximately $1,382,227.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,946 shares of company stock worth $7,257,365. Insiders own 32.00% of the company’s stock.
Oracle stock opened at $46.00 on Friday. Oracle Co. has a 52 week low of $42.57 and a 52 week high of $53.48. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 1.41. The company has a market cap of $193.24 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.57 and a beta of 1.11.
Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The firm had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.26 billion. During the same quarter last year, the firm earned $0.62 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts expect that Oracle Co. will post 3.06 earnings per share for the current fiscal year.
Oracle declared that its board has approved a stock buyback program on Monday, September 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
ORCL has been the subject of several research reports. Barclays raised their target price on Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Nomura set a $58.00 target price on Oracle and gave the company a “buy” rating in a research note on Tuesday, September 18th. Bank of America lifted their price target on Oracle from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, September 18th. Rosenblatt Securities reiterated a “hold” rating and set a $51.00 price target on shares of Oracle in a research note on Tuesday, October 30th. Finally, Wells Fargo & Co cut their price target on Oracle from $62.50 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, September 18th. Seventeen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Oracle presently has a consensus rating of “Hold” and a consensus target price of $53.71.
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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