Oracle scores as first-quarter cloud sales reach $1.5 billion

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Lockheed Martin Investment Management Co. boosted its stake in Oracle Corporation by 21.4% during the 1st quarter. On Thursday, October 1 the stock rating was upgraded by RBC Capital Markets to "Sector Perform". Trillium Asset Mngmt Limited Liability Co holds 0.05% or 17,841 shares. The Connecticut-based Quantitative Systematic Strategies Ltd Liability Corporation has invested 0.46% in KeyCorp (NYSE:KEY).

Verizon Communications Inc. (VZ) exchanged hands at an unexpectedly low level of 11.8 million shares over the course of the day.

The share price of the company (NYSE:ORCL) was up +0.06%, with a high of 52.98 during the day and the volume of Oracle Corporation shares traded was 14454402. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider's stock valued at $831,551,000 after acquiring an additional 18,351,920 shares during the period. The stock of Oracle Corporation (NYSE:ORCL) earned "Buy" rating by Goldman Sachs on Wednesday, March 16.

The company is trading up since yesterday's close of 52.8.

Oracle Corporation (NYSE:ORCL) opened at 52.86 on Friday.

The stock is trading at $48.93 which is marginally under the 50 day moving average which is $50.01 and which is a tad above the 200 day moving average of $46.93.

Oracle Corporation (NYSE:ORCL) late Thursday posted market-beating fiscal first quarter earnings results, reporting impressive growth in its cloud-based solutions.

Analysts were expecting 68 cents in earnings per share on $9.49 billion in revenue.


While expectations were not far short of reality, Oracle generated earnings of $0.62 per share, a $0.02 improvement on the predicted figure. Still, the firm continues to benefit from the addition of NetSuite, though Oracle will begin lapping tougher comparable periods in the back half of the year.

More notable recent KeyCorp (NYSE:KEY) news were published by: Buffalonews.com which released: "KeyCorp CEO: Bank focused on First Niagara buy, not new deals" on September 13, 2017, also Seekingalpha.com with their article: "KeyCorp: Standout Attractive" published on August 16, 2017, Prnewswire.com published: "KeyCorp Third Quarter 2017 Earnings Release Date And Conference Call" on September 13, 2017. The company has its outstanding shares of 4.15B.

Since January 1, 0001, it had 3 buys, and 0 insider sales for $3.37 million activity. For this quarter, Oracle's cloud software margin came in at 67 percent when certain items are excluded.

In other news, Director Bruce R. Chizen sold 206,250 shares of the company's stock in a transaction on Wednesday, July 5th. Beta, which measures a stock's price volatility relative to the market, provides the cleanest measure of systematic risk for a stock. Zacks Investment Research cut shares of Oracle Corporation from a "buy" rating to a "hold" rating in a research report on Monday, August 28th. The average investment recommendation on a scale of 1 to 5 (1 being a strong buy, 3 a hold, and 5 a sell) is 2.10, which implies that analysts are generally neutral in their outlook for ORCL over the next year.

Currently, the analyst consensus on Oracle Corp is Strong Buy and the average price target is $56.50, representing a 7.0% upside.

Originally skeptical of cloud computing, Oracle has taken steps to become a cloud competitor in recent years. In the final minutes of trading on Thursday, shares hit $52.82, an increase of 31 percent in the last 12 months.

"The debate on Oracle has moved beyond, 'Will the business be destroyed?'" said Walter Pritchard, an analyst with Citi Research. The stock was sold at an average price of $51.39, for a total transaction of $7,708,500.00. Following the sale, the director now owns 18,125 shares in the company, valued at $885,587.50.

Revenue from cloud-based applications, including programs that help companies handle finance and human resources tasks - climbed 62 percent.

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