Reasons for the Performance of Oracle Corporation (ORCL) in Q1

Ariel Investments, an investment management company, released its “Ariel Focus Fund” first-quarter investor letter. A copy of the same can be downloaded here. The economy started showing signs of cooling and credit conditions have started to tighten, which would help to reduce the inflation.  In the first quarter, the fund was +0.35% up, compared to a +1.01% return for the Russell 1000 Value Index and a +7.50% return for the S&P 500 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Ariel Focus Fund highlighted stocks like Oracle Corporation (NYSE:ORCL) in the first quarter 2023 investor letter. Headquartered in Austin, Texas, Oracle Corporation (NYSE:ORCL) provides products and services for enterprise information technology environments. On May 31, 2023, Oracle Corporation (NYSE:ORCL) stock closed at $105.94 per share. One-month return of Oracle Corporation (NYSE:ORCL) was 11.55%, and its shares gained 44.85% of their value over the last 52 weeks. Oracle Corporation (NYSE:ORCL) has a market capitalization of $286.017 billion.

Ariel Focus Fund made the following comment about Oracle Corporation (NYSE:ORCL) in its Q1 2023 investor letter:

“Additionally, global leader in enterprise software, Oracle Corporation (NYSE:ORCL) traded higher in the quarter, driven by solid quarterly earnings, a material increase in the dividend as well as forward looking guidance that implies a substantial acceleration in organic cloud growth for full year 2023. We believe these results highlight ORCL’s ability to effectively cross-sell and upsell apps and infrastructure, as well as the emergence of the company’s cloud platform as a competitive offering.”

Photo by Adam Nowakowski on Unsplash

Oracle Corporation (NYSE:ORCL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 67 hedge fund portfolios held Oracle Corporation (NYSE:ORCL) at the end of first quarter 2023 which was 65 in the previous quarter.

We discussed Oracle Corporation (NYSE:ORCL) in another article and shared the list of best software infrastructure stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.