Suffolk Capital Management LLC Reduces Stake in Oracle Corporation (ORCL)

Suffolk Capital Management LLC lowered its stake in Oracle Corporation (NYSE:ORCL) by 9.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 262,309 shares of the enterprise software provider’s stock after selling 26,585 shares during the quarter. Oracle Corporation makes up approximately 1.7% of Suffolk Capital Management LLC’s investment portfolio, making the stock its 19th largest position. Suffolk Capital Management LLC’s holdings in Oracle Corporation were worth $13,152,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. increased its stake in shares of Oracle Corporation by 6,353.4% in the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after buying an additional 18,351,920 shares during the period. Boston Partners increased its stake in shares of Oracle Corporation by 20.1% in the first quarter. Boston Partners now owns 18,234,179 shares of the enterprise software provider’s stock valued at $813,427,000 after buying an additional 3,054,765 shares during the period. Swiss National Bank increased its stake in shares of Oracle Corporation by 26.2% in the first quarter. Swiss National Bank now owns 11,137,928 shares of the enterprise software provider’s stock valued at $496,863,000 after buying an additional 2,309,400 shares during the period. Marathon Asset Management LLP increased its stake in shares of Oracle Corporation by 70.7% in the second quarter. Marathon Asset Management LLP now owns 4,398,780 shares of the enterprise software provider’s stock valued at $220,555,000 after buying an additional 1,821,601 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Oracle Corporation by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock valued at $2,397,824,000 after buying an additional 1,521,879 shares during the period. 57.83% of the stock is owned by hedge funds and other institutional investors.

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In other news, Director Jeffrey Berg sold 45,000 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $48.03, for a total transaction of $2,161,350.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dorian Daley sold 76,703 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $49.00, for a total value of $3,758,447.00. The disclosure for this sale can be found here. Insiders sold 1,055,776 shares of company stock worth $52,673,112 over the last three months. Corporate insiders own 29.00% of the company’s stock.

Several research analysts have recently issued reports on ORCL shares. Vetr downgraded Oracle Corporation from a “buy” rating to a “hold” rating and set a $46.58 price objective for the company. in a research note on Sunday, September 3rd. Zacks Investment Research downgraded Oracle Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Oracle Corporation in a research note on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Oracle Corporation in a research note on Sunday, August 27th. Finally, ValuEngine raised Oracle Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty-one have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $53.37.

Oracle Corporation (ORCL) opened at 48.21 on Wednesday. Oracle Corporation has a 52 week low of $37.62 and a 52 week high of $53.14. The company has a market capitalization of $201.18 billion, a PE ratio of 20.97 and a beta of 1.05. The firm’s 50-day moving average price is $49.49 and its 200 day moving average price is $47.61.

Oracle Corporation (NYSE:ORCL) last released its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The business had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $9.03 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts expect that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, October 10th. Oracle Corporation’s dividend payout ratio (DPR) is 33.19%.

Oracle Corporation 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.

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Institutional Ownership by Quarter for Oracle Corporation (NYSE:ORCL)

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