Veritas Asset Management Llp buys $549,683,355 stake in Oracle Corporation (ORCL)

Oracle Corporation (ORCL) : Veritas Asset Management Llp scooped up 295,730 additional shares in Oracle Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 13,502,416 shares of Oracle Corporation which is valued at $549,683,355.Oracle Corporation makes up approximately 5.73% of Veritas Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Aberdeen Asset Management Plcuk reduced its stake in ORCL by selling 1,703,388 shares or 10.3% in the most recent quarter. The Hedge Fund company now holds 14,837,547 shares of ORCL which is valued at $604,036,538. Oracle Corporation makes up approx 2.18% of Aberdeen Asset Management Plcuk’s portfolio.Mechanics Bank Trust Department boosted its stake in ORCL in the latest quarter, The investment management firm added 370 additional shares and now holds a total of 138,961 shares of Oracle Corporation which is valued at $5,732,141. Oracle Corporation makes up approx 2.06% of Mechanics Bank Trust Department’s portfolio.

Oracle Corporation opened for trading at $40.61 and hit $40.95 on the upside on Thursday, eventually ending the session at $40.9, with a gain of 0.47% or 0.19 points. The heightened volatility saw the trading volume jump to 91,42,133 shares. Company has a market cap of $168,620 M.

On the company’s financial health, Oracle Corporation reported $0.81 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jun 16, 2016. Analyst had a consensus of $0.82. The company had revenue of $10596.00 million for the quarter, compared to analysts expectations of $10458.54 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.78 EPS.

Many Wall Street Analysts have commented on Oracle Corporation. Company shares were Upgraded by BMO Capital Markets on Jul 12, 2016 to ” Outperform”, Firm has raised the Price Target to $ 47 from a previous price target of $45 .Oracle Corporation was Upgraded by JP Morgan to ” Neutral” on Jun 29, 2016.

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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