Oracle (NYSE:ORCL) had its price target cut by Credit Suisse Group from $62.00 to $60.00 in a research note released on Tuesday morning. They currently have an outperform rating on the enterprise software provider’s stock.
ORCL has been the topic of several other reports. Morgan Stanley reiterated a buy rating on shares of Oracle in a research report on Sunday. Oppenheimer reiterated a hold rating on shares of Oracle in a research report on Friday, December 15th. Zacks Investment Research cut shares of Oracle from a hold rating to a sell rating in a research report on Tuesday, December 19th. Instinet began coverage on shares of Oracle in a research report on Wednesday, January 24th. They issued a buy rating and a $51.12 price target on the stock. Finally, Bank of America cut shares of Oracle from a buy rating to a neutral rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. Oracle currently has a consensus rating of Buy and an average target price of $56.17.
Oracle (ORCL) opened at $47.05 on Tuesday. Oracle has a 1-year low of $43.60 and a 1-year high of $53.48. The stock has a market cap of $215,052.33, a price-to-earnings ratio of 57.38, a PEG ratio of 1.98 and a beta of 1.05. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. Oracle had a net margin of 9.25% and a return on equity of 21.05%. The business had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. sell-side analysts expect that Oracle will post 2.68 EPS for the current year.
Oracle declared that its Board of Directors has approved a share repurchase program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.62%. Oracle’s dividend payout ratio (DPR) is presently 92.68%.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $52.19, for a total transaction of $195,712.50. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at $945,943.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the transaction, the executive vice president now owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,956,250 shares of company stock valued at $98,330,688. Corporate insiders own 29.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ORCL. Beach Investment Management LLC. acquired a new position in shares of Oracle in the second quarter valued at $336,000. Sequoia Financial Advisors LLC raised its stake in shares of Oracle by 13.4% in the second quarter. Sequoia Financial Advisors LLC now owns 102,745 shares of the enterprise software provider’s stock valued at $5,152,000 after purchasing an additional 12,147 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Oracle by 0.9% in the second quarter. Oppenheimer & Co. Inc. now owns 138,733 shares of the enterprise software provider’s stock valued at $6,956,000 after purchasing an additional 1,252 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Oracle by 7.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 170,840 shares of the enterprise software provider’s stock valued at $8,566,000 after purchasing an additional 11,244 shares in the last quarter. Finally, Cedar Capital LLC grew its position in Oracle by 18.6% in the second quarter. Cedar Capital LLC now owns 10,365 shares of the enterprise software provider’s stock valued at $520,000 after acquiring an additional 1,624 shares during the period. Institutional investors and hedge funds own 57.93% of the company’s stock.
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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