Canaccord Genuity restated their buy rating on shares of Oracle Corporation (NYSE:ORCL) in a research note issued to investors on Saturday morning. Canaccord Genuity currently has a $57.00 price objective on the enterprise software provider’s stock, up from their previous price objective of $56.00.

Several other analysts have also commented on the company. Barclays PLC increased their price objective on Oracle Corporation from $55.00 to $59.00 and gave the company an overweight rating in a report on Friday. Mitsubishi UFJ Financial Group reiterated a buy rating and set a $63.00 price objective on shares of Oracle Corporation in a report on Friday. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Oracle Corporation in a report on Friday. Jefferies Group LLC increased their price objective on Oracle Corporation from $60.00 to $61.00 and gave the company a buy rating in a report on Friday. Finally, Zacks Investment Research lowered Oracle Corporation from a buy rating to a hold rating in a report on Friday. Two investment 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 company’s stock. The stock presently has an average rating of Buy and an average target price of $52.44.

Oracle Corporation (NYSE:ORCL) traded down 7.67% during mid-day trading on Friday, hitting $48.74. The company’s stock had a trading volume of 66,367,857 shares. The firm’s 50-day moving average is $49.96 and its 200-day moving average is $46.98. The company has a market cap of $201.62 billion, a P/E ratio of 22.05 and a beta of 1.05. Oracle Corporation has a 12-month low of $37.62 and a 12-month high of $53.14.

Oracle Corporation (NYSE:ORCL) last issued its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, beating 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 firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $9.03 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts predict that Oracle Corporation will post $2.94 EPS for the current fiscal year.

WARNING: This article was first published by Daily Political and is the property of of Daily Political. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/09/17/oracle-corporations-orcl-buy-rating-reaffirmed-at-canaccord-genuity.html.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders 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 dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, October 10th. Oracle Corporation’s payout ratio is presently 33.19%.

In related news, EVP W Corey West sold 150,000 shares of Oracle Corporation stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 177,988 shares in the company, valued at approximately $9,146,803.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dorian Daley sold 200,000 shares of Oracle Corporation stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $50.94, for a total transaction of $10,188,000.00. Following the completion of the sale, the executive vice president now owns 130,977 shares of the company’s stock, valued at approximately $6,671,968.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,817,500 shares of company stock worth $91,582,600. Corporate insiders own 29.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its holdings in Oracle Corporation by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after purchasing an additional 1,800 shares during the last quarter. Burt Wealth Advisors increased its holdings in Oracle Corporation by 4.3% in the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares during the last quarter. IHT Wealth Management LLC increased its holdings in Oracle Corporation by 65.9% in the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock valued at $154,000 after purchasing an additional 947 shares during the last quarter. Baystate Wealth Management LLC increased its holdings in Oracle Corporation by 9.2% in the 2nd quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $123,000 after purchasing an additional 206 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in Oracle Corporation by 1,150.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after purchasing an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 58.67% of the company’s stock.

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.

Analyst Recommendations for Oracle Corporation (NYSE:ORCL)

Receive News & Ratings for Oracle Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle Corporation and related companies with MarketBeat.com's FREE daily email newsletter.