Convergence Investment Partners LLC Purchases 84,459 Shares of Oracle Co. (ORCL)

Convergence Investment Partners LLC raised its position in Oracle Co. (NYSE:ORCL) by 1,281.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,051 shares of the enterprise software provider’s stock after acquiring an additional 84,459 shares during the quarter. Convergence Investment Partners LLC’s holdings in Oracle were worth $4,305,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Partnervest Advisory Services LLC raised its stake in shares of Oracle by 0.6% in the second quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock worth $337,000 after buying an additional 39 shares during the period. Pinnacle Financial Partners Inc. raised its stake in shares of Oracle by 8.9% in the second quarter. Pinnacle Financial Partners Inc. now owns 113,707 shares of the enterprise software provider’s stock worth $5,701,000 after buying an additional 9,328 shares during the period. Strategy Asset Managers LLC raised its stake in shares of Oracle by 22.3% in the third quarter. Strategy Asset Managers LLC now owns 257,359 shares of the enterprise software provider’s stock worth $12,443,000 after buying an additional 46,866 shares during the period. BT Investment Management Ltd bought a new position in shares of Oracle in the second quarter worth about $459,738,000. Finally, CIBC World Markets Inc. grew its position in shares of Oracle by 51.3% during the second quarter. CIBC World Markets Inc. now owns 231,515 shares of the enterprise software provider’s stock worth $11,608,000 after purchasing an additional 78,482 shares in the last quarter. 58.36% of the stock is currently owned by institutional investors.

In related news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the sale, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Kurian sold 1,700,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total value of $85,493,000.00. Following the sale, the insider now directly owns 1,522,983 shares of the company’s stock, valued at $76,590,815.07. The disclosure for this sale can be found here. Insiders have sold a total of 1,956,250 shares of company stock valued at $98,316,475 over the last three months. 29.00% of the stock is owned by corporate insiders.

Oracle Co. (ORCL) opened at $50.71 on Tuesday. The company has a market capitalization of $209,920.00, a P/E ratio of 21.76, a PEG ratio of 1.93 and a beta of 1.08. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. Oracle Co. has a 1-year low of $41.50 and a 1-year high of $53.14.

Oracle (NYSE:ORCL) last announced its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The firm had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. research analysts forecast that Oracle Co. will post 2.68 earnings per share for the current year.

Oracle announced that its Board of Directors has initiated a share buyback program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Tuesday, January 9th. Oracle’s dividend payout ratio is currently 32.62%.

Several research firms recently issued reports on ORCL. JPMorgan Chase & Co. set a $55.00 target price on Oracle and gave the stock a “buy” rating in a research report on Monday, December 18th. Nomura began coverage on Oracle in a research report on Tuesday, January 23rd. They set a “buy” rating and a $64.00 target price for the company. Vetr upgraded Oracle from a “hold” rating to a “buy” rating and set a $51.77 target price for the company in a research report on Monday, February 5th. Royal Bank of Canada set a $51.00 target price on Oracle and gave the stock a “neutral” rating in a research report on Monday, January 22nd. Finally, Instinet began coverage on Oracle in a research report on Wednesday, January 24th. They set a “buy” rating and a $51.12 target price for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $55.38.

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Oracle 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.

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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