Covey Capital Advisors LLC Continues to Hold Holdings in Oracle Corporation (ORCL)
Covey Capital Advisors LLC held its stake in shares of Oracle Corporation (NYSE:ORCL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,000 shares of the enterprise software provider’s stock at the close of the 2nd quarter. Covey Capital Advisors LLC’s holdings in Oracle were worth $251,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ORCL. Macquarie Group Ltd. increased its position in Oracle by 6,353.4% in the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock worth $831,551,000 after purchasing an additional 18,351,920 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Oracle by 376.6% in the second quarter. Canada Pension Plan Investment Board now owns 4,053,015 shares of the enterprise software provider’s stock worth $203,218,000 after purchasing an additional 3,202,664 shares during the last quarter. Franklin Resources Inc. boosted its stake in Oracle by 5.8% during the second quarter. Franklin Resources Inc. now owns 40,206,990 shares of the enterprise software provider’s stock worth $2,015,961,000 after buying an additional 2,193,120 shares during the period. Neuberger Berman Group LLC boosted its stake in Oracle by 19.8% during the second quarter. Neuberger Berman Group LLC now owns 12,342,418 shares of the enterprise software provider’s stock worth $618,849,000 after buying an additional 2,042,742 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Oracle by 33.7% during the second quarter. Principal Financial Group Inc. now owns 5,897,846 shares of the enterprise software provider’s stock worth $295,718,000 after buying an additional 1,485,142 shares during the period. Institutional investors own 57.69% of the company’s stock.
Several research analysts have commented on ORCL shares. Vetr lowered shares of Oracle from a “sell” rating to a “strong sell” rating and set a $46.58 price objective for the company. in a research note on Tuesday, September 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of Oracle in a research note on Monday, September 11th. Canaccord Genuity started coverage on shares of Oracle in a research note on Friday, October 6th. They set a “buy” rating and a $57.00 price objective for the company. BTIG Research reaffirmed a “buy” rating and set a $58.00 price objective on shares of Oracle in a research note on Tuesday, September 19th. Finally, Moffett Nathanson started coverage on shares of Oracle in a research note on Wednesday, September 6th. They set a “buy” rating and a $65.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $54.85.
Oracle Corporation (ORCL) traded down $0.49 during trading hours on Thursday, reaching $48.52. 14,377,500 shares of the company were exchanged, compared to its average volume of 13,179,072. Oracle Corporation has a 52 week low of $37.64 and a 52 week high of $53.14. The stock has a market capitalization of $204,542.53, a price-to-earnings ratio of 19.22, a PEG ratio of 1.87 and a beta of 1.07. The company has a current ratio of 3.63, a quick ratio of 3.61 and a debt-to-equity ratio of 0.86.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Oracle had a net margin of 25.34% and a return on equity of 20.55%. The company had revenue of $9.21 billion during the quarter, compared to analyst estimates of $9.03 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. sell-side analysts predict that Oracle Corporation will post 2.68 EPS for the current fiscal year.
In other Oracle news, Director Jeffrey Berg sold 45,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $48.03, for a total value of $2,161,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dorian Daley sold 76,703 shares of the business’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $49.00, for a total transaction of $3,758,447.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 305,776 shares of company stock valued at $14,821,999. 29.00% of the stock is owned by insiders.
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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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