Pioneer Investment Management Inc. cut its position in shares of Oracle Corporation (NYSE:ORCL) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,353,194 shares of the enterprise software provider’s stock after selling 367,119 shares during the period. Pioneer Investment Management Inc. owned 0.06% of Oracle Corporation worth $104,976,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in ORCL. Reilly Financial Advisors LLC raised its position in shares of Oracle Corporation by 8.7% in the first quarter. Reilly Financial Advisors LLC now owns 2,503 shares of the enterprise software provider’s stock worth $112,000 after buying an additional 200 shares during the period. Gradient Investments LLC raised its position in shares of Oracle Corporation by 79.9% in the first quarter. Gradient Investments LLC now owns 2,548 shares of the enterprise software provider’s stock worth $114,000 after buying an additional 1,132 shares during the period. Orrstown Financial Services Inc. raised its position in shares of Oracle Corporation by 88.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,915 shares of the enterprise software provider’s stock worth $130,000 after buying an additional 1,372 shares during the period. Clean Yield Group bought a new position in shares of Oracle Corporation during the first quarter worth $131,000. Finally, Pinnacle Bank bought a new position in shares of Oracle Corporation during the first quarter worth $160,000. Institutional investors own 58.67% of the company’s stock.
Shares of Oracle Corporation (NYSE:ORCL) opened at 50.23 on Friday. The firm has a market capitalization of $207.79 billion, a price-to-earnings ratio of 22.73 and a beta of 1.06. The stock has a 50 day moving average of $49.35 and a 200-day moving average of $44.95. Oracle Corporation has a 52 week low of $37.62 and a 52 week high of $51.85.
Oracle Corporation (NYSE:ORCL) last posted its quarterly earnings data on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.11. The firm had revenue of $10.94 billion during the quarter, compared to analysts’ expectations of $10.45 billion. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. Analysts expect that Oracle Corporation will post $2.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Monday, July 17th. Oracle Corporation’s payout ratio is presently 34.55%.
A number of equities analysts have weighed in on ORCL shares. Goldman Sachs Group, Inc. (The) set a $49.00 price target on shares of Oracle Corporation and gave the company a “buy” rating in a report on Monday, June 12th. Jefferies Group LLC restated a “buy” rating and set a $52.00 target price on shares of Oracle Corporation in a report on Friday, April 7th. Benchmark Co. assumed coverage on shares of Oracle Corporation in a report on Thursday, April 27th. They set a “buy” rating and a $55.00 target price on the stock. Canaccord Genuity restated a “buy” rating and set a $49.00 target price on shares of Oracle Corporation in a report on Friday, May 26th. Finally, Zacks Investment Research upgraded shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirty-one have issued a buy rating to the company’s stock. Oracle Corporation presently has an average rating of “Buy” and an average price target of $50.70.
In other Oracle Corporation news, CEO Mark V. Hurd sold 350,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $49.76, for a total value of $17,416,000.00. Following the completion of the sale, the chief executive officer now owns 553,891 shares in the company, valued at approximately $27,561,616.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Kurian sold 750,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total transaction of $37,845,000.00. Following the completion of the sale, the insider now owns 783,533 shares of the company’s stock, valued at approximately $39,537,075.18. The disclosure for this sale can be found here. Insiders sold a total of 1,817,500 shares of company stock valued at $91,547,388 in the last 90 days. Corporate insiders own 29.00% of the company’s stock.
Oracle Corporation 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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