Oracle Corporation (ORCL) Given a $55.00 Price Target by J P Morgan Chase & Co Analysts
Several other equities research analysts also recently issued reports on ORCL. UBS AG restated a buy rating and set a $52.00 price objective (up from $48.00) on shares of Oracle Corporation in a report on Thursday, June 22nd. They noted that the move was a valuation call. Vetr downgraded Oracle Corporation from a sell rating to a strong sell rating and set a $46.58 price objective on the stock. in a report on Tuesday. Royal Bank Of Canada lifted their price objective on Oracle Corporation from $53.00 to $56.00 and gave the stock an outperform rating in a report on Tuesday. BidaskClub upgraded Oracle Corporation from a hold rating to a buy rating in a report on Tuesday. Finally, Wedbush restated an outperform rating and set a $58.00 price objective on shares of Oracle Corporation in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-two have issued a buy rating to the stock. Oracle Corporation currently has an average rating of Buy and an average target price of $52.44.
Shares of Oracle Corporation (NYSE:ORCL) traded down 7.67% during trading on Friday, reaching $48.74. 66,367,857 shares of the company’s stock traded hands. The stock has a market capitalization of $201.62 billion, a PE ratio of 22.05 and a beta of 1.05. The company has a 50 day moving average price of $49.96 and a 200 day moving average price of $46.98. Oracle Corporation has a 1-year low of $37.62 and a 1-year high of $53.14.
Oracle Corporation (NYSE:ORCL) last posted its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $9.03 billion. During the same period in the previous year, the business earned $0.55 EPS. Oracle Corporation’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts forecast that Oracle Corporation will post $2.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.56%. The ex-dividend date is Tuesday, October 10th. Oracle Corporation’s payout ratio is 33.19%.
In other Oracle Corporation news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $48.86, for a total value of $183,225.00. Following the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $885,587.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark V. Hurd sold 350,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $49.76, for a total value of $17,416,000.00. Following the completion of the transaction, the chief executive officer now directly owns 553,891 shares in the company, valued at $27,561,616.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,817,500 shares of company stock worth $91,582,600. Insiders own 29.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Boston Partners increased its position in Oracle Corporation by 20.1% in the 1st quarter. Boston Partners now owns 18,234,179 shares of the enterprise software provider’s stock worth $813,427,000 after purchasing an additional 3,054,765 shares during the last quarter. LGT Capital Partners LTD. increased its position in Oracle Corporation by 14.0% in the 2nd quarter. LGT Capital Partners LTD. now owns 623,463 shares of the enterprise software provider’s stock worth $31,260,000 after purchasing an additional 76,653 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in Oracle Corporation in the 1st quarter worth about $1,522,000. Lockheed Martin Investment Management Co. increased its position in Oracle Corporation by 21.4% in the 1st quarter. Lockheed Martin Investment Management Co. now owns 73,660 shares of the enterprise software provider’s stock worth $3,286,000 after purchasing an additional 13,000 shares during the last quarter. Finally, BerganKDV Wealth Management LLC increased its position in Oracle Corporation by 2.3% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 11,586 shares of the enterprise software provider’s stock worth $581,000 after purchasing an additional 255 shares during the last quarter. 58.67% of the stock is currently owned by institutional investors.
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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