Oracle (ORCL) Holder Argent Trust Company Has Cut Stake as Valuation Rose; Purecycle (PCYO …

… 07/05/2018 – Oracle’s Mark Hurd Echoes Concerns on Pentagon’s Cloud Process; 19/03/2018 – Oracle’s mixed earnings brightened by the cloud; …

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Argent Trust Company decreased its stake in Oracle Corp (ORCL) by 25.54% based on its latest 2019Q2 regulatory filing with the SEC. Argent Trust Company sold 18,905 shares as the company’s stock rose 2.59% . The hedge fund held 55,130 shares of the prepackaged software company at the end of 2019Q2, valued at $3.14 million, down from 74,035 at the end of the previous reported quarter. Argent Trust Company who had been investing in Oracle Corp for a number of months, seems to be less bullish one the $179.30B market cap company. The stock decreased 0.26% or $0.14 during the last trading session, reaching $53.75. About 14.40 million shares traded or 0.64% up from the average. Oracle Corporation (NYSE:ORCL) has risen 17.96% since September 14, 2018 and is uptrending. It has outperformed by 17.96% the S&P500. Some Historical ORCL News: 29/03/2018 – VINCI Energies Switches to Rimini Street Support for Its Oracle Database and Oracle E-Business Suite Application; 07/05/2018 – Oracle’s Mark Hurd Echoes Concerns on Pentagon’s Cloud Process; 19/03/2018 – Oracle’s mixed earnings brightened by the cloud; 10/04/2018 – Oracle Al Powers Future of Customer Experience Management; 10/04/2018 – Oracle Makes it Easier for Brands to Keep their Best Customers Happy; 06/03/2018 – Study Finds Precision Medicine Initiatives Active in Broader Spectrum of Disease Areas and Datasets, But Not Without Technologi; 15/03/2018 – ORACLE CORP ORCL.N : RBC RAISES TARGET PRICE TO $55 FROM $51; 20/04/2018 – Oracle + NetSuite is Recognized by Frost & Sullivan as a Leader in Customer Value for its Solutions in the Cloud-ERP for Manufacturing and Wholesale Distribution Space; 16/05/2018 – ORACLE – SIGNED AGREEMENT TO BUY DATASCIENCE.COM, WHOSE PLATFORM CENTRALIZES DATA SCIENCE TOOLS, PROJECTS, INFRASTRUCTURE IN FULLY-GOVERNED WORKSPACE; 19/03/2018 – Oracle 3Q Software License Update, Pdt Support Rev $5.03B

Trigran Investments Inc decreased its stake in Purecycle Corp (PCYO) by 4.26% based on its latest 2019Q2 regulatory filing with the SEC. Trigran Investments Inc sold 75,022 shares as the company’s stock rose 9.47% . The hedge fund held 1.69M shares of the water supply company at the end of 2019Q2, valued at $17.87M, down from 1.76 million at the end of the previous reported quarter. Trigran Investments Inc who had been investing in Purecycle Corp for a number of months, seems to be less bullish one the $266.58M market cap company. The stock increased 1.63% or $0.18 during the last trading session, reaching $11.2. About 66,903 shares traded or 162.82% up from the average. Pure Cycle Corporation (NASDAQ:PCYO) has risen 2.55% since September 14, 2018 and is uptrending. It has outperformed by 2.55% the S&P500. Some Historical PCYO News: 23/04/2018 DJ Pure Cycle Corporation, Inst Holders, 1Q 2018 (PCYO)

More notable recent Pure Cycle Corporation (NASDAQ:PCYO) news were published by: Nasdaq.com which released: “Mid-Afternoon Market Update: DXP Enterprises Gains On Strong Results; EnteroMedics Shares Plummet – Nasdaq” on May 16, 2017, also Seekingalpha.com with their article: “PureCycle Water: Third Try Should Be The Charm – Seeking Alpha” published on September 12, 2017, Streetinsider.com published: “Pure Cycle Corporation Announces Additional 127 Lot Closings and Water Acquisition – StreetInsider.com” on August 19, 2019. More interesting news about Pure Cycle Corporation (NASDAQ:PCYO) were released by: Finance.Yahoo.com and their article: “Is Pure Cycle Corporation’s (NASDAQ:PCYO) 3.0% ROE Worse Than Average? – Yahoo Finance” published on August 28, 2019 as well as Globenewswire.com‘s news article titled: “Pure Cycle Corporation Announces Groundbreaking at Sky Ranch – GlobeNewswire” with publication date: March 01, 2018.

Trigran Investments Inc, which manages about $278.36M and $600.02M US Long portfolio, upped its stake in Energy Recovery Inc (NASDAQ:ERII) by 36,715 shares to 3.15M shares, valued at $32.81M in 2019Q2, according to the filing. It also increased its holding in Gentherm Inc (NASDAQ:THRM) by 40,643 shares in the quarter, for a total of 1.15 million shares, and has risen its stake in Visteon Corp (NYSE:VC).

Analysts await Oracle Corporation (NYSE:ORCL) to report earnings on September, 16. They expect $0.72 earnings per share, up 16.13% or $0.10 from last year’s $0.62 per share. ORCL’s profit will be $2.40B for 18.66 P/E if the $0.72 EPS becomes a reality. After $1.07 actual earnings per share reported by Oracle Corporation for the previous quarter, Wall Street now forecasts -32.71% negative EPS growth.

Argent Trust Company, which manages about $986.10M US Long portfolio, upped its stake in Costco Wholesale Corp (NASDAQ:COST) by 1,260 shares to 14,063 shares, valued at $3.72M in 2019Q2, according to the filing. It also increased its holding in Ishares (IVV) by 1,617 shares in the quarter, for a total of 27,005 shares, and has risen its stake in Spdr S&P 500 (Mkt) (SPY).

Investors sentiment increased to 0.76 in 2019 Q2. Its up 0.08, from 0.68 in 2019Q1. It is positive, as 49 investors sold ORCL shares while 569 reduced holdings. 121 funds opened positions while 346 raised stakes. 1.70 billion shares or 2.77% less from 1.75 billion shares in 2019Q1 were reported. Stevens Cap Ltd Partnership holds 0.87% in Oracle Corporation (NYSE:ORCL) or 342,961 shares. Lincluden Limited reported 44,565 shares. Ferguson Wellman Capital Mgmt Incorporated owns 6,641 shares. Highstreet Asset Inc invested in 25,658 shares. Moreover, Investors Asset Mngmt Of Georgia Incorporated Ga Adv has 0.19% invested in Oracle Corporation (NYSE:ORCL). Korea holds 0.41% of its portfolio in Oracle Corporation (NYSE:ORCL) for 1.66 million shares. Drexel Morgan And owns 6,896 shares. Ontario – Canada-based Sun Life Financial Inc has invested 0.21% in Oracle Corporation (NYSE:ORCL). Schroder Mngmt invested in 0.41% or 6.67 million shares. Boston Family Office Ltd Limited Liability Company accumulated 0.31% or 52,331 shares. Livforsakringsbolaget Skandia Omsesidigt invested in 1.03% or 147,457 shares. 33,595 were accumulated by Mitchell Cap Mngmt. Davenport And Ltd Liability holds 0.11% of its portfolio in Oracle Corporation (NYSE:ORCL) for 160,341 shares. Cordasco Financial Ntwk reported 900 shares. Barrett Asset Ltd Liability reported 75,369 shares.

More notable recent Oracle Corporation (NYSE:ORCL) news were published by: Finance.Yahoo.com which released: “What Kind Of Shareholders Own Oracle Corporation (NYSE:ORCL)? – Yahoo Finance” on September 09, 2019, also Finance.Yahoo.com with their article: “Oracle Corporation (NYSE:ORCL) Earns Among The Best Returns In Its Industry – Yahoo Finance” published on August 12, 2019, Seekingalpha.com published: “Oracle to appeal decision on Pentagon cloud contract – Seeking Alpha” on August 26, 2019. More interesting news about Oracle Corporation (NYSE:ORCL) were released by: Seekingalpha.com and their article: “Oracle EPS in-line, misses on revenue – Seeking Alpha” published on September 11, 2019 as well as Seekingalpha.com‘s news article titled: “Oracle’s Massive Buybacks Will Push The Stock Higher – Seeking Alpha” with publication date: June 24, 2019.

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Brandes Investment Partners LP Has $9.29 Million Stake in Oracle Co. (NYSE:ORCL)

Renaissance Technologies LLC boosted its stake in shares of Oracle by 2,952.4% in the second quarter. Renaissance Technologies LLC now owns …

Oracle logoBrandes Investment Partners LP cut its holdings in Oracle Co. (NYSE:ORCL) by 10.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,113 shares of the enterprise software provider’s stock after selling 19,518 shares during the quarter. Brandes Investment Partners LP’s holdings in Oracle were worth $9,292,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ORCL. Renaissance Technologies LLC boosted its stake in shares of Oracle by 2,952.4% in the second quarter. Renaissance Technologies LLC now owns 2,970,032 shares of the enterprise software provider’s stock worth $169,203,000 after acquiring an additional 2,872,732 shares during the last quarter. LSV Asset Management boosted its stake in Oracle by 37.8% during the second quarter. LSV Asset Management now owns 8,335,383 shares of the enterprise software provider’s stock worth $474,866,000 after buying an additional 2,286,600 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Oracle by 1,540.3% during the first quarter. Assenagon Asset Management S.A. now owns 2,380,038 shares of the enterprise software provider’s stock worth $127,832,000 after buying an additional 2,234,942 shares during the last quarter. PGGM Investments boosted its stake in Oracle by 1,064.6% during the second quarter. PGGM Investments now owns 2,258,315 shares of the enterprise software provider’s stock worth $128,656,000 after buying an additional 2,064,403 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Oracle by 132.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,507,235 shares of the enterprise software provider’s stock valued at $199,811,000 after purchasing an additional 1,996,744 shares during the period. Institutional investors and hedge funds own 53.05% of the company’s stock.

Several equities research analysts recently issued reports on the company. Cowen assumed coverage on Oracle in a report on Friday, August 16th. They issued a “buy” rating and a $65.00 price objective on the stock. UBS Group set a $57.00 price target on Oracle and gave the stock a “neutral” rating in a report on Thursday. Argus restated a “buy” rating on shares of Oracle in a report on Friday. Raymond James upped their price target on Oracle from $57.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, Wedbush reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Oracle in a research report on Friday. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $55.88.

Oracle stock traded down $0.14 during midday trading on Friday, hitting $53.75. The stock had a trading volume of 14,399,249 shares, compared to its average volume of 10,161,714. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 2.31. The business has a fifty day moving average price of $54.06 and a 200 day moving average price of $54.46. The stock has a market cap of $187.77 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.64 and a beta of 1.18. Oracle Co. has a 12 month low of $42.40 and a 12 month high of $60.50.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.09. The firm had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Oracle had a return on equity of 45.61% and a net margin of 27.71%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 earnings per share. On average, equities analysts anticipate that Oracle Co. will post 3.49 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, October 9th. Oracle’s dividend payout ratio (DPR) is currently 30.38%.

In related news, Director Michael J. Boskin sold 150,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $56.65, for a total value of $8,497,500.00. Following the completion of the sale, the director now directly owns 134,796 shares in the company, valued at $7,636,193.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark V. Hurd sold 787,500 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $56.29, for a total transaction of $44,328,375.00. Following the sale, the chief executive officer now owns 874,871 shares of the company’s stock, valued at $49,246,488.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,140,000 shares of company stock worth $117,501,425. Company insiders own 32.00% of the company’s stock.

About Oracle

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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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Cliftonlarsonallen Wealth Advisors Position in Oracle (ORCL) Has Decreased as Stock Rose …

… 07/05/2018 – Oracle’s Mark Hurd Echoes Concerns on Pentagon’s Cloud Process; 11/04/2018 – Source-to-Pay Leader Determine, Inc. Increases …

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Cliftonlarsonallen Wealth Advisors Llc decreased its stake in Oracle Corp (ORCL) by 29.98% based on its latest 2019Q2 regulatory filing with the SEC. Cliftonlarsonallen Wealth Advisors Llc sold 5,832 shares as the company’s stock rose 2.59% . The institutional investor held 13,622 shares of the prepackaged software company at the end of 2019Q2, valued at $776,000, down from 19,454 at the end of the previous reported quarter. Cliftonlarsonallen Wealth Advisors Llc who had been investing in Oracle Corp for a number of months, seems to be less bullish one the $179.30B market cap company. The stock decreased 0.26% or $0.14 during the last trading session, reaching $53.75. About 14.40 million shares traded or 0.64% up from the average. Oracle Corporation (NYSE:ORCL) has risen 17.96% since September 14, 2018 and is uptrending. It has outperformed by 17.96% the S&P500. Some Historical ORCL News: 10/05/2018 – Oracle Construction and Engineering Enables Earned Value Management to Improve Project Delivery; 14/05/2018 – Oracle Presenting at JPMorgan Conference Tomorrow; 19/03/2018 – Tech Today: Bad Facebook, Oracle On Tap, Buying II-VI, Selling Arista — Barron’s Blog; 22/03/2018 – More Than 60% of Drug Safety Experts Plan To Use AI to Improve the Speed and Security of Adverse Event Case Processing; 07/05/2018 – Oracle’s Mark Hurd Echoes Concerns on Pentagon’s Cloud Process; 11/04/2018 – Source-to-Pay Leader Determine, Inc. Increases Position in Top Analyst Firm Spend Matters April 2018 SolutionMap(SM) Rankings; 11/05/2018 – ORACLE FINANCIAL 4Q NET INCOME 2.36B RUPEES, EST. 2.55B; 11/05/2018 – ORACLE FINANCIAL 4Q REV. 10.8B RUPEES, EST. 10.30B; 23/04/2018 – Oracle Applications Users Group Launches Career Center; 24/04/2018 – NetSuite Industry Innovations Help Businesses Accelerate Growth

Hartline Investment Corp increased its stake in Nvidia Corp Com (NVDA) by 5.04% based on its latest 2019Q2 regulatory filing with the SEC. Hartline Investment Corp bought 3,299 shares as the company’s stock declined 6.51% . The institutional investor held 68,783 shares of the semiconductors company at the end of 2019Q2, valued at $11.30M, up from 65,484 at the end of the previous reported quarter. Hartline Investment Corp who had been investing in Nvidia Corp Com for a number of months, seems to be bullish on the $111.50B market cap company. The stock decreased 1.26% or $2.33 during the last trading session, reaching $181.94. About 8.11 million shares traded. NVIDIA Corporation (NASDAQ:NVDA) has declined 30.89% since September 14, 2018 and is downtrending. It has underperformed by 30.89% the S&P500. Some Historical NVDA News: 28/03/2018 – The fallout from the fatal crash involving an autonomous Uber vehicle continues. Chipmaker Nvidia, which supplies chips for Uber’s self-driving cars, is suspending its self-driving testing; 20/05/2018 – Neowin.net: Nvidia GTX 1180 Founders Edition to reportedly debut on June 15; 20/03/2018 – NVDA:UNIT TAKING OVER SPACE IN EX-BELL LABS BUILDING IN HOLMDEL; 19/04/2018 – The key chip partner for Apple and Nvidia blames “softening” high-end smartphone demand and being more conservative on the cryptocurrency mining market for its weak guidance; 27/03/2018 – Nvidia using cloud to simulate self-driving vehicles covering billions of miles; 08/03/2018 – Tech Radar: Nvidia Turing release date, news, and rumors; 23/05/2018 – GameFace Labs Now Taking Pre-Orders for Android-based VR Headset Powered by NVIDIA Jetson TX2; 30/05/2018 – Supermicro Shows Industry’s First Scale-Up Al and Machine Learning Systems based on the Latest Generation CPUs and NVIDIA Tesla V100 with NVLink GPUs for Superior Performance and Density; 23/05/2018 – NVDA, QCOM, INTC and 1 more: Big news for standalone headsets – Qualcomm to Unveil New Chipset to Power VR, AR Headsets; 11/05/2018 – NVIDIA CORP NVDA.O : MORGAN STANLEY RAISES TARGET PRICE TO $273 FROM $258

Investors sentiment decreased to 1.3 in 2019 Q2. Its down 0.21, from 1.51 in 2019Q1. It is negative, as 74 investors sold NVDA shares while 286 reduced holdings. 107 funds opened positions while 360 raised stakes. 376.89 million shares or 4.52% less from 394.73 million shares in 2019Q1 were reported. Bamco New York, a New York-based fund reported 44,604 shares. First National Bank & Trust Of Hutchinson invested in 0.15% or 1,438 shares. The California-based Alpha Cubed Invs Ltd Liability Co has invested 0.66% in NVIDIA Corporation (NASDAQ:NVDA). Smith Salley Associate stated it has 0.1% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA). Segall Bryant And Hamill Ltd Limited Liability Company has invested 0.01% in NVIDIA Corporation (NASDAQ:NVDA). Maverick Cap holds 0.02% in NVIDIA Corporation (NASDAQ:NVDA) or 9,820 shares. 1,785 were accumulated by Penobscot Investment. Asset holds 0.07% in NVIDIA Corporation (NASDAQ:NVDA) or 23,052 shares. Schroder Invest Mngmt reported 0% in NVIDIA Corporation (NASDAQ:NVDA). Sigma Planning has 22,221 shares for 0.19% of their portfolio. C M Bidwell & Assoc Limited invested 0.7% in NVIDIA Corporation (NASDAQ:NVDA). Timessquare Cap Mgmt Limited Liability invested in 0.02% or 18,585 shares. Sfmg Limited Com invested in 1,572 shares. Gfs Advsrs Limited Liability Corp holds 0.58% in NVIDIA Corporation (NASDAQ:NVDA) or 12,315 shares. Arrowgrass Prtn (Us) LP holds 0.07% in NVIDIA Corporation (NASDAQ:NVDA) or 17,866 shares.

Hartline Investment Corp, which manages about $366.93 million and $418.38 million US Long portfolio, decreased its stake in Union Pacific Corp Com (NYSE:UNP) by 3,880 shares to 23,076 shares, valued at $3.90M in 2019Q2, according to the filing. It also reduced its holding in Schwab U.S. Small (SCHA) by 6,202 shares in the quarter, leaving it with 18,168 shares, and cut its stake in Schwab U.S. Mid (SCHM).

More notable recent NVIDIA Corporation (NASDAQ:NVDA) news were published by: Seekingalpha.com which released: “Nvidia: Warming – Seeking Alpha” on August 27, 2019, also Nasdaq.com with their article: “Nvidia Stock Finally Has What It Takes to Break Out of $200 Again – Nasdaq” published on August 21, 2019, Nasdaq.com published: “Technology Sector Update for 08/19/2019: DXC,NVDA,MSFT,WB,SINA – Nasdaq” on August 19, 2019. More interesting news about NVIDIA Corporation (NASDAQ:NVDA) were released by: Nasdaq.com and their article: “Why NVIDIA, SINA, and Tegna Jumped Today – Nasdaq” published on August 19, 2019 as well as Nasdaq.com‘s news article titled: “NVIDIA Joins VMware to Drive AI Acceptance Amid Enterprises – Nasdaq” with publication date: August 27, 2019.

Analysts await Oracle Corporation (NYSE:ORCL) to report earnings on September, 16. They expect $0.72 earnings per share, up 16.13% or $0.10 from last year’s $0.62 per share. ORCL’s profit will be $2.40 billion for 18.66 P/E if the $0.72 EPS becomes a reality. After $1.07 actual earnings per share reported by Oracle Corporation for the previous quarter, Wall Street now forecasts -32.71% negative EPS growth.

More notable recent Oracle Corporation (NYSE:ORCL) news were published by: Seekingalpha.com which released: “Oracle to appeal decision on Pentagon cloud contract – Seeking Alpha” on August 26, 2019, also Finance.Yahoo.com with their article: “Is Oracle Corporation (ORCL) A Good Stock To Buy? – Yahoo Finance” published on June 10, 2019, Seekingalpha.com published: “Pentagon, DoJ will review Oracle cloud appeal – Seeking Alpha” on August 27, 2019. More interesting news about Oracle Corporation (NYSE:ORCL) were released by: Finance.Yahoo.com and their article: “Is Oracle Corporation (NYSE:ORCL) A Smart Choice For Dividend Investors? – Yahoo Finance” published on May 20, 2019 as well as Finance.Yahoo.com‘s news article titled: “What Kind Of Shareholders Own Oracle Corporation (NYSE:ORCL)? – Yahoo Finance” with publication date: September 09, 2019.

Investors sentiment increased to 0.76 in Q2 2019. Its up 0.08, from 0.68 in 2019Q1. It improved, as 49 investors sold ORCL shares while 569 reduced holdings. 121 funds opened positions while 346 raised stakes. 1.70 billion shares or 2.77% less from 1.75 billion shares in 2019Q1 were reported. Neville Rodie Shaw reported 176,654 shares. Natixis Advsrs Ltd Partnership, Massachusetts-based fund reported 2.89 million shares. 22,088 are owned by Peoples Financial Services. Louisiana State Employees Retirement Sys holds 0.37% in Oracle Corporation (NYSE:ORCL) or 121,700 shares. Linscomb & Williams Inc stated it has 0.12% of its portfolio in Oracle Corporation (NYSE:ORCL). Cim Mangement has 10,314 shares. Renaissance Techs stated it has 0.15% of its portfolio in Oracle Corporation (NYSE:ORCL). Ci holds 254,981 shares. Cna Financial holds 1.8% or 151,834 shares in its portfolio. Cibc Ww Markets Corp holds 705,743 shares. Evercore Wealth Mgmt Ltd Company owns 141,608 shares. Bennicas And Associates stated it has 0.67% in Oracle Corporation (NYSE:ORCL). Gamco Investors Et Al stated it has 0% of its portfolio in Oracle Corporation (NYSE:ORCL). Boston Family Office Limited Liability Company accumulated 52,331 shares or 0.31% of the stock. Ghp Investment Advsr owns 86,447 shares or 0.6% of their US portfolio.

Cliftonlarsonallen Wealth Advisors Llc, which manages about $2.03B and $997.41 million US Long portfolio, upped its stake in Ishares Tr by 20,939 shares to 89,163 shares, valued at $2.26 million in 2019Q2, according to the filing. It also increased its holding in Ishares Tr (IVV) by 17,088 shares in the quarter, for a total of 46,883 shares, and has risen its stake in Spdr Series Trust.

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Oracle Stock Slumps on Surprise Earnings, Co-CEO Leave of Absence

More alarming to investors, it was also announced that co-CEO Mark Hurd will be taking a leave of absence for unspecified health-related reasons.

Oracle (NYSE:ORCL) caught the market off guard when the company unexpectedly released its fiscal 2020 Q1 earnings after the bell on Wednesday. Oracle hit on expected EPS, but revenue was short of what analysts had been expecting. More alarming to investors, it was also announced that co-CEO Mark Hurd will be taking a leave of absence for unspecified health-related reasons. Oracle stock opened at $53.32 on Thursday — down 5.27% — before recovering slightly to close at a 4.26% loss.

Oracle stock hit be co-CEO leave, Q1 earningsOracle stock hit be co-CEO leave, Q1 earnings

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Oracle Reports Q1 Earnings a Day Early

Investors can be unsettled when companies pull an audible and change the date they report earnings without warning. Doing so can send a signal that the company is trying to avoid analyst scrutiny — or at least delay it by catching them off guard. Oracle was expected to report its fiscal 2020 Q1 earnings on Thursday evening. Instead, the company pulled off a surprise Q1 earnings release after the bell on Wednesday.

Earnings per share of 81 cents were in line with expectations, but the $9.22 billion in quarterly revenue was a gain of just 0.3% compared to Q1 2019 and missed analyst expectations. Guidance for Q2 was also lower than expected, setting up ORCL stock to take a hit.

Also noted in those earnings was confirmation that Oracle’s board has approved an increase in share repurchases by an additional $15 billion, after spending $5 billion on buybacks during Q1.

All in all, the market reaction to the Q1 earnings report was very different from last quarter when Oracle stock got a boost instead of taking a hit.

Co-CEO Is Taking a Medical Leave of Absence

Another factor that almost always unsettles investors is an unexpected change in leadership at a company. And Oracle stock felt the effect of that issue on Thursday as well. During the Wednesday evening earnings call, it was announced that co-CEO Mark Hurd would be taking a leave of absence for an unspecified duration, for medical reasons.

Hurd joined Oracle in 2010 after his tenure as CEO and president of HP (NASDAQ:HPQ) ended as a result of accusations of an inappropriate relationship with an assistant. In 2014, when Oracle founder Larry Ellison stepped down from the CEO position to become CTO, Hurd took the reins as co-CEO along with former Oracle CFO Safra Catz. During the time that Hurd and Catz have run the company, Oracle stock had seen roughly 45% growth. That is until yesterday, when the news sank in and ORCL Stock dropped 4.26%.

During Hurd’s absence, Oracle announced that Safra Catz will continue as CEO, with Larry Ellison also helping to cover his responsibilities.

Oracle Stock Price Slightly Lagging Markets

So far in 2019, Oracle stock is up 19% (with yesterday’s drop factored in), which is not too bad all things considered. However, it’s being outperformed by the broader markets: the Nasdaq Composite is up 23% while the S&P 500 has notched a 20% gain.

Is Now the Time to Buy ORCL Stock?

With Oracle stock closing on Thursday at $53.89, there is a case to be made that the market over-reacted to the company’s announcements. On the other hand, when the Oracle stock price crossed the $60 threshold in early July, that was an all-time high for ORCL. If you look to market analysts, the 26 polled by CNN Business have a median 12-month price target for Oracle of $57.00 representing a bit of upside.

If you were eying an Oracle investment after seeing the Oracle stock price pass $60 in July, but didn’t want to buy at the peak, Thursday’s drop can be looked at as a buying opportunity.

As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.

Oracle co-CEO Mark Hurd announced a sick leave

Hurd joined Oracle nine years ago after he worked for HP for five years. At HP, he served as CEO, president, and ultimately chairman. In 2010, he was …

Hurd joined Oracle nine years ago after he worked for HP for five years. At HP, he served as CEO, president, and ultimately chairman. In 2010, he was forced to resign from all HP positions. According to Hewlett-Packard, he submitted an inaccurate expense report at the time, concealing his “close personal relationship” with an outsourced female employee engaged in marketing work.

Considering Hurd’s performance, this news surprised many people outside of HP. In Hurd’s tenure, HP’s share price has doubled. But the HP board said that after the outsourcing female employee’s lawyer, Gloria Allred, contacted the company, accusing Hurd of sexual harassment, the board had little choice. (The then director, Marc Andreessen, said, “This is a necessary decision.”)

Hurd left after receiving $12,224,693 in turnover compensation. In the second month, Hurd’s friend Larry Ellison appointed him as Oracle’s co-president. Ellison founded Oracle in the summer of 1977. Ellison, the CEO of Oracle, said in the relevant announcement: “Mark has done a good job at HP, and I expect him to do better at Oracle. In the IT industry, no one else has more experience than Mark.”

After Ellison ceased to be the CEO of Oracle in 2014 and became the chief technology officer, he was promoted to Hurd as CEO. After former CFO Safra Catz was promoted to CEO, they both served as co-CEOs.

Currently, with Hurd’s departure, Katz will become the sole CEO of Oracle. CNBC reported that Ellison is still the company’s chief technology officer, and he is expected to assume some of Hurd’s duties.

Hurd entered the University of Texas Baylor after receiving a tennis scholarship. It is reported that he participated in the professional tennis tournament immediately after graduation. His career began at the NRC. After 22 years in the company, he was promoted to chief operating officer and served as CEO the following year.

Two years later, he joined HP.

In today’s announcement, Ellison tried to appease Oracle’s investors. He said: “Oracle has a very capable CEO Katz, and a team of in-depth executives, many of whom have been in Oracle for a long time.” Katz said: “Mark fully participated in the first we just ended. Quarterly, now he needs to focus on his own health issues.”

At the same time, Oracle also announced quarterly earnings, slightly lower than Wall Street expectations. In the after-hours trading of US stocks on Wednesday, Oracle shares fell 2.7% but rebounded at the time of this writing.

The full text of the emails Hud gave to employees is as follows:

To all my friends and colleagues at Oracle,

We worked hard together and completed the first quarter, and now I decided I need to take the time to focus on my health. Under my application, the board of directors has approved my sick leave. Everyone knows that Larry, Safira, and I work together as a strong team. I am confident that they and the entire executive management team will do a great job of implementing the exciting plans we will show at the upcoming OpenWorld.

I love Oracle and hope that you will succeed during my departure – mark

Email: colin@satprwire.comPhone: +44 20 4732 1984

Colin has been working in the business industry for quite a sometime and he recently made the decision to become a full-time business journalist. At Daily Research News, he also helps us take care of the business writing.

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