Concannon Wealth Management Lowers stake in Oracle Corporation (ORCL)

Oracle Corporation (ORCL) : Concannon Wealth Management reduced its stake in Oracle Corporation by 81.24% during the most recent quarter end. The investment management company now holds a total of 103 shares of Oracle Corporation which is valued at $4,192 after selling 446 shares in Oracle Corporation , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.

Oracle Corporation opened for trading at $40.51 and hit $41 on the upside on Wednesday, eventually ending the session at $40.85, with a gain of 0.49% or 0.2 points. The heightened volatility saw the trading volume jump to 87,42,137 shares. Company has a market cap of $169,522 M.

Other Hedge Funds, Including , Mechanics Bank Trust Department reduced its stake in ORCL by selling 3,315 shares or 2.34% in the most recent quarter. The Hedge Fund company now holds 138,591 shares of ORCL which is valued at $5,640,654. Oracle Corporation makes up approx 2.17% of Mechanics Bank Trust Department’s portfolio.Profit Investment Management reduced its stake in ORCL by selling 63,176 shares or 34.01% in the most recent quarter. The Hedge Fund company now holds 122,589 shares of ORCL which is valued at $4,989,372. Oracle Corporation makes up approx 2.09% of Profit Investment Management’s portfolio.Quantres Asset Management Ltd reduced its stake in ORCL by selling 18,000 shares or 21.05% in the most recent quarter. The Hedge Fund company now holds 67,500 shares of ORCL which is valued at $2,747,250. Oracle Corporation makes up approx 2.56% of Quantres Asset Management Ltd’s portfolio.Rnc Capital Management reduced its stake in ORCL by selling 639 shares or 0.43% in the most recent quarter. The Hedge Fund company now holds 147,941 shares of ORCL which is valued at $6,068,540. Oracle Corporation makes up approx 0.59% of Rnc Capital Management’s portfolio.

On the company’s financial health, Oracle Corporation reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Mar 15, 2016. Analyst had a consensus of $0.62. The company had revenue of $9014.00 million for the quarter, compared to analysts expectations of $9128.37 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on Oracle Corporation. Northland Capital Initiated Oracle Corporation on Apr 20, 2016 to “Outperform”, Price Target of the shares are set at $50.Company shares were Reiterated by Canaccord Genuity on Mar 16, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $44 .Shares were Reiterated by UBS on Mar 16, 2016 to “Buy” and Lowered the Price Target to $ 44 from a previous price target of $45 .

Oracle Corporation (Oracle) is a provider of enterprise software and computer hardware products and services. The Company’s offerings include Oracle database and middleware software application software cloud infrastructure hardware systems including computer server storage and networking products and related services. It operates through various segments including new software licenses and cloud software subscriptions which include software licenses and Oracle Cloud offerings; cloud infrastructure-as-a-service which provides deployment and management offerings; software license updates and product support which includes support enhancements and upgrades for Oracle software products; hardware systems products which includes servers storage networking virtualization software operating systems and management software; hardware systems support which provides software updates for software components and services business which offers consulting services

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