Parsons Capital Management Inc. RI Sells 2,859 Shares of Oracle Co. (ORCL)
Parsons Capital Management Inc. RI trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 2.5% during the first quarter, HoldingsChannel.com reports. The fund owned 112,214 shares of the enterprise software provider’s stock after selling 2,859 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Oracle were worth $6,027,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Northern Trust Corp boosted its position 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 worth $1,821,360,000 after buying an additional 238,058 shares during the period. Magellan Asset Management Ltd boosted its position in Oracle by 0.5% during the 4th quarter. Magellan Asset Management Ltd now owns 30,936,949 shares of the enterprise software provider’s stock worth $1,396,803,000 after buying an additional 148,974 shares during the period. Norges Bank acquired a new stake in Oracle during the 4th quarter worth approximately $1,235,719,000. Nordea Investment Management AB boosted its position in Oracle by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 15,877,915 shares of the enterprise software provider’s stock worth $716,891,000 after buying an additional 626,766 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Oracle by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 14,543,137 shares of the enterprise software provider’s stock worth $656,623,000 after buying an additional 420,553 shares during the period. 43.89% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Jeffrey Berg sold 37,500 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $53.10, for a total transaction of $1,991,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $51.54, for a total value of $193,275.00. Following the transaction, the director now owns 27,969 shares of the company’s stock, valued at $1,441,522.26. The disclosure for this sale can be found here. Insiders have sold 2,473,750 shares of company stock valued at $133,883,350 over the last 90 days. Corporate insiders own 32.00% of the company’s stock.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, March 14th. The enterprise software provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.59 billion. Oracle had a return on equity of 34.03% and a net margin of 27.14%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. Sell-side analysts anticipate that Oracle Co. will post 3.08 earnings per share for the current year.
Several research analysts have issued reports on ORCL shares. Credit Suisse Group set a $60.00 price target on shares of Oracle and gave the stock a “buy” rating in a report on Monday, March 11th. Goldman Sachs Group restated a “buy” rating and set a $55.00 price target on shares of Oracle in a report on Thursday, February 14th. Zacks Investment Research upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Wednesday, May 15th. Morgan Stanley raised their price target on shares of Oracle from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 21st. Finally, Standpoint Research lowered shares of Oracle from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $53.11.
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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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