Todays Report: Today, Synovus Financial Corp Reduces stake in Oracle Corp. (ORCL)

Today, Synovus Financial Corp Reduces stake in Oracle Corp. (ORCL)

Synovus Financial Corp lowered its position in Oracle Corp. (NYSE:ORCL) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 165,530 shares of the enterprise software provider’s stock after selling 12,953 shares during the period. Synovus Financial Corp’s holdings in Oracle Corp. were worth $6,517,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ORCL. Seven Eight Capital LLC boosted its position in Oracle Corp. by 142.8% in the first quarter. Seven Eight Capital LLC now owns 31,281 shares of the enterprise software provider’s stock worth $1,280,000 after buying an additional 18,400 shares in the last quarter. Squarepoint Ops LLC boosted its position in Oracle Corp. by 46.6% in the first quarter. Squarepoint Ops LLC now owns 88,798 shares of the enterprise software provider’s stock worth $3,632,000 after buying an additional 28,232 shares in the last quarter. AIMZ Investment Advisors LLC boosted its position in Oracle Corp. by 1.5% in the first quarter. AIMZ Investment Advisors LLC now owns 20,176 shares of the enterprise software provider’s stock worth $825,000 after buying an additional 302 shares in the last quarter. Lombard Odier Transatlantic Limited Partnership boosted its position in Oracle Corp. by 11.9% in the first quarter. Lombard Odier Transatlantic Limited Partnership now owns 61,585 shares of the enterprise software provider’s stock worth $2,518,000 after buying an additional 6,550 shares in the last quarter. Finally, Avalon Advisors LLC boosted its position in Oracle Corp. by 12.1% in the first quarter. Avalon Advisors LLC now owns 395,884 shares of the enterprise software provider’s stock worth $16,196,000 after buying an additional 42,730 shares in the last quarter. 57.68% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Corp. (NYSE:ORCL) traded up 0.42% during trading on Friday, reaching $40.27. 4,013,115 shares of the company were exchanged. Oracle Corp. has a 52-week low of $33.13 and a 52-week high of $42.00. The firm’s 50 day moving average is $38.83 and its 200 day moving average is $39.89. The stock has a market capitalization of $165.33 billion, a PE ratio of 19.13 and a beta of 1.19.

Oracle Corp. (NYSE:ORCL) last released its quarterly earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.03. The company earned $8.60 billion during the quarter. Oracle Corp. had a return on equity of 22.10% and a net margin of 24.16%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Analysts expect that Oracle Corp. will post $2.63 EPS for the current year.

A number of equities analysts have weighed in on ORCL shares. Rowe reduced their price objective on shares of Oracle Corp. from $109.00 to $9.30 in a research report on Tuesday, November 8th. Rosenblatt Securities started coverage on shares of Oracle Corp. in a research report on Monday, August 8th. They set a “buy” rating and a $48.00 price objective for the company. DA Davidson started coverage on shares of Oracle Corp. in a research report on Monday, August 8th. They set a “buy” rating for the company. BTIG Research restated a “buy” rating and set a $47.00 price objective on shares of Oracle Corp. in a research report on Monday, August 22nd. Finally, Zacks Investment Research upgraded shares of Oracle Corp. from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, August 17th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $43.79.

In other Oracle Corp. news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $39.06, for a total value of $146,475.00. Following the completion of the transaction, the director now owns 8,281 shares in the company, valued at approximately $323,455.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dorian Daley sold 16,065 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $39.61, for a total value of $636,334.65. Following the completion of the transaction, the executive vice president now owns 25,000 shares of the company’s stock, valued at approximately $990,250. The disclosure for this sale can be found here. 29.00% of the stock is owned by company insiders.

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