Texas Permanent School Fund Decreases Holdings in Oracle Co. (NYSE:ORCL)

Texas Permanent School Fund trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 495,721 shares of the enterprise software provider’s stock after selling 16,804 shares during the quarter. Texas Permanent School Fund’s holdings in Oracle were worth $26,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Northern Trust Corp lifted its stake in Oracle by 0.6% during the 4th quarter. Northern Trust Corp now owns 40,340,189 shares of the enterprise software provider’s stock valued at $1,821,360,000 after acquiring an additional 238,058 shares during the period. Magellan Asset Management Ltd lifted its stake in shares of Oracle by 0.5% in the 4th quarter. Magellan Asset Management Ltd now owns 30,936,949 shares of the enterprise software provider’s stock valued at $1,396,803,000 after purchasing an additional 148,974 shares during the period. Norges Bank acquired a new position in shares of Oracle in the 4th quarter valued at $1,235,719,000. Nordea Investment Management AB lifted its stake in shares of Oracle by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 15,877,915 shares of the enterprise software provider’s stock valued at $716,891,000 after purchasing an additional 626,766 shares during the period. Finally, Yacktman Asset Management LP lifted its stake in shares of Oracle by 3.2% in the 4th quarter. Yacktman Asset Management LP now owns 13,701,527 shares of the enterprise software provider’s stock valued at $618,624,000 after purchasing an additional 419,509 shares during the period. Institutional investors and hedge funds own 53.15% of the company’s stock.

In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $54.52, for a total transaction of $204,450.00. Following the completion of the sale, the director now owns 27,969 shares of the company’s stock, valued at $1,524,869.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark V. Hurd sold 1,200,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $53.83, for a total transaction of $64,596,000.00. Following the sale, the chief executive officer now directly owns 1,664,227 shares of the company’s stock, valued at approximately $89,585,339.41. The disclosure for this sale can be found here. Insiders have sold 2,470,000 shares of company stock valued at $133,690,075 in the last ninety days. Insiders own 32.00% of the company’s stock.

Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Wednesday, May 15th. Royal Bank of Canada boosted their target price on shares of Oracle to $57.00 and gave the company a “sector perform” rating in a research note on Friday, March 15th. DZ Bank reiterated a “sell” rating on shares of Oracle in a research note on Tuesday, March 19th. BNP Paribas assumed coverage on shares of Oracle in a research note on Friday, March 29th. They issued a “neutral” rating and a $50.00 target price for the company. Finally, Raymond James boosted their target price on shares of Oracle from $54.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $53.11.

NYSE:ORCL opened at $53.84 on Friday. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 2.13. The firm has a market cap of $183.25 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.61 and a beta of 1.09. Oracle Co. has a fifty-two week low of $42.40 and a fifty-two week high of $55.53.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, March 14th. The enterprise software provider reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.02. Oracle had a net margin of 27.14% and a return on equity of 34.03%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.59 billion. During the same period in the prior year, the business posted $0.83 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts predict that Oracle Co. will post 3.09 EPS for the current year.

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Oracle Company Profile

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.

Further Reading: Why are trading ranges significant?

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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