Oracle Co. (ORCL) Stake Lowered by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its position in shares of Oracle Co. (NYSE:ORCL) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 989,069 shares of the enterprise software provider’s stock after selling 6,049 shares during the period. King Luther Capital Management Corp’s holdings in Oracle were worth $50,996,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ORCL. Truvestments Capital LLC purchased a new stake in Oracle in the third quarter worth approximately $107,000. WESPAC Advisors SoCal LLC purchased a new stake in Oracle in the third quarter worth approximately $119,000. ELM Advisors LLC purchased a new stake in Oracle in the third quarter worth approximately $122,000. Kiley Juergens Wealth Management LLC boosted its holdings in Oracle by 70.9% in the third quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock worth $141,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Palo Capital Inc. purchased a new stake in Oracle in the third quarter worth approximately $141,000. Hedge funds and other institutional investors own 50.97% of the company’s stock.

Several brokerages recently issued reports on ORCL. Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Societe Generale set a $50.00 target price on shares of Oracle and gave the stock a “neutral” rating in a report on Tuesday, August 14th. Needham & Company LLC began coverage on shares of Oracle in a report on Monday, October 22nd. They issued a “hold” rating on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $53.00 target price on shares of Oracle in a report on Tuesday, September 18th. Finally, Goldman Sachs Group restated a “buy” rating and issued a $55.00 target price on shares of Oracle in a report on Tuesday, September 18th. Seventeen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $53.71.

In other 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 transaction of $6,707,277.28. Following the sale, the executive vice president now directly owns 109,615 shares in the company, valued at approximately $5,582,691.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $50.01, for a total transaction of $187,537.50. Following the sale, the director now owns 27,969 shares in the company, valued at $1,398,729.69. The disclosure for this sale can be found here. Insiders sold 142,946 shares of company stock worth $7,257,365 over the last quarter. Insiders own 32.00% of the company’s stock.

ORCL opened at $46.00 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.43 and a current ratio of 3.43. Oracle Co. has a 1-year low of $42.57 and a 1-year high of $53.48. The company has a market capitalization of $193.24 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The business had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.26 billion. During the same period last year, the firm earned $0.62 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate that Oracle Co. will post 3.06 EPS for the current year.

Oracle announced that its Board of Directors has approved a stock buyback plan on Monday, September 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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About Oracle

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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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