New York State Teachers Retirement System Sells 58,173 Shares of Oracle Corp. (ORCL)
New York State Teachers Retirement System decreased its position in shares of Oracle Corp. (NYSE:ORCL) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,085,797 shares of the enterprise software provider’s stock after selling 58,173 shares during the period. New York State Teachers Retirement System owned 0.15% of Oracle Corp. worth $249,092,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ORCL. PM CAPITAL Ltd acquired a new position in Oracle Corp. during the first quarter worth $34,143,000. Lincluden Management Ltd. increased its position in Oracle Corp. by 116.6% in the first quarter. Lincluden Management Ltd. now owns 204,349 shares of the enterprise software provider’s stock worth $8,360,000 after buying an additional 110,015 shares in the last quarter. Legacy Private Trust Co. increased its position in Oracle Corp. by 0.6% in the first quarter. Legacy Private Trust Co. now owns 25,531 shares of the enterprise software provider’s stock worth $1,044,000 after buying an additional 160 shares in the last quarter. Saddle Road Partners LLC increased its position in Oracle Corp. by 4.0% in the first quarter. Saddle Road Partners LLC now owns 99,472 shares of the enterprise software provider’s stock worth $4,069,000 after buying an additional 3,814 shares in the last quarter. Finally, PGGM Investments increased its position in Oracle Corp. by 1.5% in the first quarter. PGGM Investments now owns 2,938,277 shares of the enterprise software provider’s stock worth $120,205,000 after buying an additional 42,911 shares in the last quarter. Institutional investors and hedge funds own 58.24% of the company’s stock.
Shares of Oracle Corp. (NYSE:ORCL) traded down 1.58% during mid-day trading on Tuesday, reaching $38.01. 14,964,003 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $40.07 and its 200 day moving average price is $40.29. Oracle Corp. has a 52-week low of $33.13 and a 52-week high of $42.00. The company has a market cap of $156.05 billion, a PE ratio of 18.06 and a beta of 1.23.
Oracle Corp. (NYSE:ORCL) last released its quarterly earnings data on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by $0.03. The company earned $8.60 billion during the quarter. Oracle Corp. had a net margin of 24.16% and a return on equity of 22.10%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. On average, equities research analysts predict that Oracle Corp. will post $2.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be paid a $0.15 dividend. The ex-dividend date is Friday, October 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. Oracle Corp.’s dividend payout ratio is currently 28.57%.
Several research analysts recently commented on ORCL shares. Vetr upgraded shares of Oracle Corp. from a “buy” rating to a “strong-buy” rating and set a $45.46 target price on the stock in a report on Monday, September 12th. Barclays PLC reiterated a “buy” rating on shares of Oracle Corp. in a report on Monday, September 12th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $47.00 target price on shares of Oracle Corp. in a report on Sunday, September 25th. Bank of America Corp. reiterated a “buy” rating and issued a $48.00 target price on shares of Oracle Corp. in a report on Thursday, September 22nd. Finally, Zacks Investment Research downgraded shares of Oracle Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.76.
In other news, EVP John F. Fowler sold 500,000 shares of Oracle Corp. stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $41.17, for a total value of $20,585,000.00. Following the completion of the sale, the executive vice president now owns 119,645 shares in the company, valued at approximately $4,925,784.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corp. stock in a transaction on Monday, August 15th. The shares were sold at an average price of $41.12, for a total transaction of $154,200.00. Following the completion of the sale, the director now owns 8,281 shares of the company’s stock, valued at approximately $340,514.72. The disclosure for this sale can be found here. 29.00% of the stock is currently owned by insiders.
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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