CIBC World Markets Inc. Increases Position in Oracle Co. (ORCL)
CIBC World Markets Inc. boosted its position in Oracle Co. (NYSE:ORCL) by 128.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 318,157 shares of the enterprise software provider’s stock after acquiring an additional 178,875 shares during the period. CIBC World Markets Inc.’s holdings in Oracle were worth $15,042,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Strategy Asset Managers LLC increased its position in shares of Oracle by 22.3% during the third quarter. Strategy Asset Managers LLC now owns 257,359 shares of the enterprise software provider’s stock valued at $12,443,000 after buying an additional 46,866 shares during the period. BT Investment Management Ltd bought a new stake in shares of Oracle during the second quarter valued at about $459,738,000. Oppenheimer Asset Management Inc. increased its position in shares of Oracle by 7.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 170,840 shares of the enterprise software provider’s stock valued at $8,566,000 after buying an additional 11,244 shares during the period. Polen Capital Management LLC increased its position in shares of Oracle by 7.3% during the second quarter. Polen Capital Management LLC now owns 12,620,261 shares of the enterprise software provider’s stock valued at $632,780,000 after buying an additional 854,240 shares during the period. Finally, Israel Discount Bank of New York increased its position in shares of Oracle by 0.5% during the second quarter. Israel Discount Bank of New York now owns 18,025 shares of the enterprise software provider’s stock valued at $904,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 58.03% of the company’s stock.
Shares of Oracle Co. (NYSE ORCL) opened at $52.58 on Wednesday. The firm has a market capitalization of $217,660.00, a P/E ratio of 22.57, a PEG ratio of 2.02 and a beta of 1.05. Oracle Co. has a 52 week low of $42.40 and a 52 week high of $53.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07.
Oracle declared that its Board of Directors has approved a share repurchase plan on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows 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 leadership believes its shares are undervalued.
Several equities research analysts have recently weighed in on the company. OTR Global cut Oracle to a “positive” rating in a research report on Friday, March 9th. Barclays upped their price target on Oracle from $56.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday. They noted that the move was a valuation call. BMO Capital Markets decreased their price target on Oracle from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, December 15th. Instinet assumed coverage on Oracle in a research report on Wednesday, January 24th. They set a “buy” rating and a $51.12 price target on the stock. Finally, Vetr cut Oracle from a “buy” rating to a “hold” rating and set a $51.30 price target on the stock. in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have issued a buy rating to the company. Oracle has an average rating of “Buy” and a consensus target price of $55.76.
In other news, insider Thomas Kurian sold 1,700,000 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the sale, the insider now owns 1,522,983 shares of the company’s stock, valued at $76,590,815.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Dorian Daley sold 100,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the sale, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,956,250 shares of company stock valued at $98,316,475. Insiders own 29.00% of the company’s stock.
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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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