5 Best Information Technology Services Stocks to Buy

4. Oracle Corporation (NASDAQ:ORCL)

Number of Hedge Fund Holders: 65

Oracle Corporation (NASDAQ:ORCL) offers a variety of IT services, related to databases, virtualization, Cloud infrastructure, enterprise and more. Oracle Fusion Service is a platform offered by Oracle Corporation (NASDAQ:ORCL) that helps companies automate their customer services flows. Some other services products of Oracle Corporation (NASDAQ:ORCL) famous among major companies include Demantra, Hyperion, E-Business Suite, Oracle Siebel, among others.

As of the end of the last quarter of 2022, 65 hedge funds were bullish on Oracle Corporation (NASDAQ:ORCL). The biggest hedge fund stakeholder of the company was First Eagle Investment Management of Jean-Marie Eveillard which owns a $1.7 billion stake in Oracle Corporation (NASDAQ:ORCL).

Madison Sustainable Equity Fund made the following comment about Oracle Corporation (NYSE:ORCL) in its Q1 2023 investor letter:

“During the quarter, we established a new position in Oracle Corporation (NYSE:ORCL) as the company’s growth profile has improved from a low single digit revenue growth company to high single digits. The key drivers of improved growth come from the company’s Software-as-a-Service applications and the Oracle Cloud Infrastructure (OCI). Oracle’s software applications power the Enterprise Resource Planning and Human Capital Management functions of large and small-to-medium sized businesses and are growing in the mid-teens. OCI is a differentiated cloud infrastructure provider that is gaining share due to its strong value proposition in speed, performance, and security. In addition, we believe that the company’s operating margins will improve from scale benefits in OCI and cost efficiencies from its recent acquisition of Cerner.”