BidaskClub upgraded shares of Oracle Corporation (NYSE:ORCL) from a hold rating to a buy rating in a report released on Tuesday morning.
Several other analysts have also issued reports on ORCL. Zacks Investment Research upgraded Oracle Corporation from a hold rating to a buy rating and set a $51.00 target price on the stock in a research note on Tuesday, May 16th. Jefferies Group LLC restated a buy rating and issued a $52.00 target price on shares of Oracle Corporation in a research note on Friday, May 19th. Canaccord Genuity restated a buy rating and issued a $49.00 target price on shares of Oracle Corporation in a research note on Friday, May 26th. OTR Global upgraded Oracle Corporation to a positive rating in a research note on Thursday, June 8th. Finally, Goldman Sachs Group, Inc. (The) set a $49.00 target price on Oracle Corporation and gave the company a buy rating in a research note on Monday, June 12th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $52.39.
Oracle Corporation (ORCL) opened at 48.74 on Tuesday. The firm’s 50-day moving average price is $49.96 and its 200 day moving average price is $46.98. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $53.14. The company has a market cap of $201.62 billion, a PE ratio of 22.05 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last posted its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a return on equity of 21.05% and a net margin of 25.34%. The business had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that Oracle Corporation will post $2.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.56%. Oracle Corporation’s dividend payout ratio is presently 33.19%.
In related news, CEO Mark V. Hurd sold 350,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $49.76, for a total transaction of $17,416,000.00. Following the completion of the sale, the chief executive officer now directly owns 553,891 shares in the company, valued at approximately $27,561,616.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP W Corey West sold 150,000 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $51.39, for a total value of $7,708,500.00. Following the sale, the executive vice president now owns 177,988 shares of the company’s stock, valued at $9,146,803.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,817,500 shares of company stock valued at $91,582,600 over the last 90 days. 29.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of ORCL. Macquarie Group Ltd. raised its position in Oracle Corporation by 6,353.4% during the 1st quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after purchasing an additional 18,351,920 shares during the last quarter. BT Investment Management Ltd bought a new position in Oracle Corporation during the 2nd quarter valued at approximately $459,738,000. Harris Associates L P raised its position in Oracle Corporation by 17.9% during the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after purchasing an additional 7,427,501 shares during the last quarter. FMR LLC raised its position in Oracle Corporation by 24.8% during the 2nd quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after purchasing an additional 6,577,297 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Oracle Corporation by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after purchasing an additional 5,270,359 shares during the last quarter. Institutional investors own 58.67% of the company’s stock.
Oracle Corporation Company Profile
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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