Parsec Financial Management Inc. Maintains Holdings in Oracle Corporation (ORCL)
Parsec Financial Management Inc. maintained its position in Oracle Corporation (NYSE:ORCL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,024 shares of the enterprise software provider’s stock at the close of the 2nd quarter. Parsec Financial Management Inc.’s holdings in Oracle Corporation were worth $3,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. lifted its stake in Oracle Corporation by 1.7% in the second quarter. Mawer Investment Management Ltd. now owns 2,831,117 shares of the enterprise software provider’s stock worth $141,952,000 after acquiring an additional 48,130 shares during the period. Papp L Roy & Associates lifted its stake in Oracle Corporation by 1.3% in the second quarter. Papp L Roy & Associates now owns 23,419 shares of the enterprise software provider’s stock worth $1,174,000 after acquiring an additional 303 shares during the period. Brave Asset Management Inc. purchased a new stake in Oracle Corporation in the second quarter worth $1,131,000. Selway Asset Management lifted its stake in Oracle Corporation by 0.5% in the second quarter. Selway Asset Management now owns 41,600 shares of the enterprise software provider’s stock worth $2,086,000 after acquiring an additional 200 shares during the period. Finally, Whitnell & Co. lifted its stake in Oracle Corporation by 0.4% in the second quarter. Whitnell & Co. now owns 61,679 shares of the enterprise software provider’s stock worth $3,093,000 after acquiring an additional 252 shares during the period. 57.83% of the stock is owned by hedge funds and other institutional investors.
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In related news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $50.30, for a total value of $188,625.00. Following the sale, the director now owns 18,125 shares in the company, valued at approximately $911,687.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas Kurian sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total value of $37,845,000.00. Following the completion of the sale, the insider now owns 783,533 shares in the company, valued at approximately $39,537,075.18. The disclosure for this sale can be found here. Insiders have sold a total of 1,055,776 shares of company stock worth $52,673,112 in the last quarter. 29.00% of the stock is currently owned by insiders.
Oracle Corporation (ORCL) opened at 48.23 on Friday. The firm’s 50-day moving average price is $49.44 and its 200-day moving average price is $47.61. The stock has a market cap of $201.27 billion, a P/E ratio of 20.98 and a beta of 1.05. Oracle Corporation has a 12 month low of $37.64 and a 12 month high of $53.14.
Oracle Corporation (NYSE:ORCL) last released its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The company had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts predict that Oracle Corporation will post $2.94 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, October 10th. Oracle Corporation’s payout ratio is 33.19%.
ORCL has been the subject of several recent research reports. Vetr lowered Oracle Corporation from a “buy” rating to a “hold” rating and set a $46.58 price objective for the company. in a research report on Sunday, September 3rd. Zacks Investment Research lowered Oracle Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price objective on shares of Oracle Corporation in a research report on Tuesday, July 25th. Royal Bank Of Canada reissued a “buy” rating and set a $53.00 price objective on shares of Oracle Corporation in a research report on Sunday, August 27th. Finally, ValuEngine raised Oracle Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty-one have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $53.37.
Oracle Corporation Profile
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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