Quantbot Technologies LP Acquires 31,588 Shares of Oracle Corporation (ORCL)
Quantbot Technologies LP increased its holdings in shares of Oracle Corporation (NYSE:ORCL) by 233.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,094 shares of the enterprise software provider’s stock after purchasing an additional 31,588 shares during the period. Quantbot Technologies LP’s holdings in Oracle were worth $2,180,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ORCL. Acrospire Investment Management LLC boosted its stake in Oracle by 947.4% in the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after acquiring an additional 1,800 shares in the last quarter. Burt Wealth Advisors boosted its stake in Oracle by 4.3% in the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after acquiring an additional 88 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Oracle in the second quarter valued at approximately $129,000. ETF Managers Group LLC acquired a new stake in Oracle in the second quarter valued at approximately $133,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Oracle by 17.4% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,702 shares of the enterprise software provider’s stock valued at $135,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 57.89% of the company’s stock.
Several brokerages have weighed in on ORCL. Vetr downgraded shares of Oracle from a “buy” rating to a “hold” rating and set a $51.82 target price for the company. in a research note on Wednesday. BidaskClub cut shares of Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. JPMorgan Chase & Co. set a $55.00 price target on shares of Oracle and gave the stock a “buy” rating in a report on Monday, December 18th. Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 price target on shares of Oracle in a report on Monday, October 2nd. Finally, Canaccord Genuity decreased their price target on shares of Oracle from $57.00 to $53.00 and set a “buy” rating for the company in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $55.27.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The firm had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the company posted $0.61 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. analysts forecast that Oracle Corporation will post 2.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.51%. Oracle’s dividend payout ratio (DPR) is presently 32.62%.
Oracle announced that its board has approved a stock buyback plan on Thursday, December 14th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 136,954 shares in the company, valued at $6,517,640.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $48.40, for a total transaction of $181,500.00. Following the sale, the director now owns 18,125 shares in the company, valued at approximately $877,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,250 shares of company stock valued at $5,310,063. 29.00% of the stock is currently owned by corporate insiders.
Oracle Company 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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