Goldman Sachs Group, Inc. (The) set a $56.00 price objective on Oracle Corporation (NYSE:ORCL) in a research note issued to investors on Friday. The firm currently has a buy rating on the enterprise software provider’s stock.
A number of other research analysts have also recently commented on the stock. KeyCorp reiterated a buy rating on shares of Oracle Corporation in a research report on Wednesday. Piper Jaffray Companies began coverage on Oracle Corporation in a research note on Wednesday. They set an overweight rating and a $55.00 price objective for the company. Drexel Hamilton reissued a buy rating and set a $62.00 price objective on shares of Oracle Corporation in a research note on Monday, October 2nd. BidaskClub lowered Oracle Corporation from a buy rating to a hold rating in a research note on Wednesday, September 20th. Finally, BTIG Research reissued a buy rating and set a $58.00 price objective on shares of Oracle Corporation in a research note on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty-one have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $53.37.
Oracle Corporation (NYSE:ORCL) traded down 1.04% during midday trading on Friday, reaching $48.40. 16,340,405 shares of the company traded hands. Oracle Corporation has a one year low of $37.62 and a one year high of $53.14. The company has a market capitalization of $201.98 billion, a price-to-earnings ratio of 21.05 and a beta of 1.05. The stock’s 50 day moving average is $49.52 and its 200 day moving average is $47.52.
Oracle Corporation (NYSE:ORCL) last issued its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The business had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. During the same period last year, the business earned $0.55 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that Oracle Corporation will post $2.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, October 10th. This represents a $0.76 annualized dividend and a yield of 1.57%. Oracle Corporation’s payout ratio is 33.19%.
In related news, insider Thomas Kurian sold 750,000 shares of Oracle Corporation stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total value of $37,845,000.00. Following the completion of the sale, the insider now directly owns 783,533 shares in the company, valued at approximately $39,537,075.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Berg sold 45,000 shares of Oracle Corporation stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $48.03, for a total value of $2,161,350.00. The disclosure for this sale can be found here. Insiders sold a total of 1,055,776 shares of company stock valued at $52,673,112 over the last quarter. 29.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in ORCL. Macquarie Group Ltd. boosted its position in Oracle Corporation by 6,353.4% in the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock worth $831,551,000 after purchasing an additional 18,351,920 shares during the last quarter. BT Investment Management Ltd purchased a new position in Oracle Corporation in the second quarter worth about $459,738,000. Harris Associates L P boosted its position in Oracle Corporation by 17.9% in the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after purchasing an additional 7,427,501 shares during the last quarter. FMR LLC boosted its position in Oracle Corporation by 24.8% in the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock worth $1,658,750,000 after purchasing an additional 6,577,297 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Oracle Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after purchasing an additional 5,270,359 shares during the last quarter. 58.66% of the stock is currently owned by institutional investors and hedge funds.
About Oracle Corporation
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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