Pettyjohn Wood & White Inc. raised its position in Oracle Co. (NYSE:ORCL) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,979 shares of the enterprise software provider’s stock after purchasing an additional 1,450 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Oracle were worth $927,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Truvestments Capital LLC bought a new position in Oracle in the 3rd quarter worth about $107,000. WESPAC Advisors SoCal LLC bought a new position in Oracle in the 3rd quarter worth about $119,000. ELM Advisors LLC bought a new position in shares of Oracle during the third quarter valued at approximately $122,000. Kiley Juergens Wealth Management LLC boosted its stake in shares of Oracle by 70.9% during the third quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after purchasing an additional 1,140 shares in the last quarter. Finally, Palo Capital Inc. bought a new position in shares of Oracle during the third quarter valued at approximately $141,000. 50.97% of the stock is currently owned by institutional investors.
ORCL has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Rosenblatt Securities reiterated a “hold” rating and set a $51.00 price objective on shares of Oracle in a research note on Tuesday, October 30th. Wells Fargo & Co dropped their price objective on shares of Oracle from $62.50 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 18th. Credit Suisse Group reiterated a “buy” rating and set a $60.00 price objective on shares of Oracle in a research note on Tuesday, September 18th. Finally, Barclays increased their price objective on shares of Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Seventeen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $53.71.
In other Oracle news, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the completion of the transaction, the executive vice president now owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $50.01, for a total transaction of $187,537.50. Following the completion of the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,398,729.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,946 shares of company stock valued at $7,257,365. Corporate insiders own 32.00% of the company’s stock.
Shares of ORCL opened at $48.75 on Thursday. The company has a market capitalization of $201.81 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.64 and a beta of 1.11. Oracle Co. has a twelve month low of $42.57 and a twelve month high of $53.48. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43.
Oracle (NYSE:ORCL) last announced its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The company had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. Oracle’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.62 earnings per share. On average, equities analysts predict that Oracle Co. will post 3.06 earnings per share for the current fiscal year.
Oracle declared that its board has initiated a share buyback program on Monday, September 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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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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