Convergence Investment Partners LLC Increases Holdings in Oracle Co. (NYSE:ORCL)

Convergence Investment Partners LLC boosted its holdings in shares of Oracle Co. (NYSE:ORCL) by 15.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,381 shares of the enterprise software provider’s stock after purchasing an additional 8,240 shares during the period. Oracle comprises approximately 1.2% of Convergence Investment Partners LLC’s holdings, making the stock its 18th largest holding. Convergence Investment Partners LLC’s holdings in Oracle were worth $3,393,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hexavest Inc. purchased a new position in Oracle during the 1st quarter valued at about $53,584,000. Fulton Bank N. A. boosted its position in Oracle by 352.0% during the 2nd quarter. Fulton Bank N. A. now owns 56,390 shares of the enterprise software provider’s stock valued at $3,117,000 after acquiring an additional 43,914 shares in the last quarter. Summit Financial Group Inc. bought a new stake in Oracle during the 2nd quarter valued at approximately $222,000. Vident Investment Advisory LLC boosted its position in Oracle by 522.8% during the 1st quarter. Vident Investment Advisory LLC now owns 55,200 shares of the enterprise software provider’s stock valued at $2,667,000 after acquiring an additional 46,337 shares in the last quarter. Finally, Balentine LLC bought a new stake in Oracle during the 1st quarter valued at approximately $31,000. Institutional investors own 48.10% of the company’s stock.

NYSE ORCL traded up $0.20 during mid-day trading on Friday, reaching $55.45. The stock had a trading volume of 9,352,834 shares, compared to its average volume of 11,576,664. Oracle Co. has a 1 year low of $39.71 and a 1 year high of $57.88. The stock has a market cap of $169.54 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.40 and a beta of 0.87. The company has a fifty day moving average price of $55.15 and a 200 day moving average price of $52.88. The company has a debt-to-equity ratio of 5.44, a current ratio of 3.03 and a quick ratio of 3.03.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Tuesday, June 16th. The enterprise software provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. Oracle had a net margin of 25.94% and a return on equity of 72.76%. The company had revenue of $10.44 billion during the quarter, compared to analyst estimates of $10.72 billion. During the same period in the previous year, the business earned $1.16 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts expect that Oracle Co. will post 3.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $0.96 dividend on an annualized basis and a yield of 1.73%. Oracle’s dividend payout ratio is presently 27.75%.

ORCL has been the topic of several research reports. Citigroup lifted their price objective on Oracle from $45.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, June 17th. Wells Fargo & Co lifted their price objective on Oracle from $55.00 to $62.50 and gave the company an “overweight” rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. lifted their price objective on Oracle from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday, April 21st. Finally, Sanford C. Bernstein reissued a “buy” rating and issued a $59.00 price target on shares of Oracle in a research report on Monday, June 8th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $55.34.

In other Oracle news, Vice Chairman Jeffrey Henley sold 400,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $54.08, for a total transaction of $21,632,000.00. Following the completion of the sale, the insider now directly owns 400,000 shares in the company, valued at approximately $21,632,000. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Safra Catz sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $51.73, for a total transaction of $51,730,000.00. Following the sale, the chief executive officer now owns 2,368,592 shares of the company’s stock, valued at $122,527,264.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,300,000 shares of company stock valued at $396,376,000. Company insiders own 36.60% of the company’s stock.

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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