Oracle Corporation (ORCL) Earns Overweight Rating from Wells Fargo & Company
Wells Fargo & Company reissued their overweight rating on shares of Oracle Corporation (NYSE:ORCL) in a research note released on Monday morning. They currently have a $62.50 target price on the enterprise software provider’s stock.
A number of other analysts have also recently commented on ORCL. Zacks Investment Research cut Oracle Corporation from a buy rating to a hold rating in a research report on Tuesday, May 23rd. Canaccord Genuity reiterated a buy rating and set a $49.00 price objective on shares of Oracle Corporation in a research report on Friday, May 26th. OTR Global upgraded Oracle Corporation to a positive rating in a research report on Thursday, June 8th. Goldman Sachs Group, Inc. (The) set a $49.00 price objective on Oracle Corporation and gave the stock a buy rating in a research report on Monday, June 12th. Finally, Wedbush dropped their price objective on Oracle Corporation from $44.00 to $43.00 and set a neutral rating for the company in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $53.33.
Oracle Corporation (ORCL) opened at 47.97 on Monday. The stock’s 50 day moving average is $49.85 and its 200 day moving average is $47.11. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $53.14. The firm has a market cap of $198.44 billion, a PE ratio of 21.71 and a beta of 1.05. Oracle Corporation also was the target of some unusual options trading on Monday. Investors acquired 39,975 call options on the company. This represents an increase of approximately 122% compared to the typical volume of 18,038 call options.
Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $9.03 billion. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. On average, equities analysts forecast that Oracle Corporation will post $2.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, October 10th. This represents a $0.76 dividend on an annualized basis and a yield of 1.58%. Oracle Corporation’s payout ratio is currently 33.19%.
In other Oracle Corporation news, CEO Mark V. Hurd sold 350,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 553,891 shares in the company, valued at approximately $27,561,616.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP W Corey West sold 150,000 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $51.39, for a total value of $7,708,500.00. Following the transaction, the executive vice president now owns 177,988 shares of the company’s stock, valued at approximately $9,146,803.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,817,500 shares of company stock valued at $91,582,600. 29.00% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. MPS Loria Financial Planners LLC acquired a new position in Oracle Corporation during the 2nd quarter worth $180,000. Burgundy Asset Management Ltd. boosted its position in Oracle Corporation by 1.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 6,086,871 shares of the enterprise software provider’s stock worth $305,196,000 after acquiring an additional 60,828 shares during the period. Intl Fcstone Inc. acquired a new position in Oracle Corporation during the 2nd quarter worth $274,000. Lord Abbett & CO. LLC boosted its position in Oracle Corporation by 26.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,161,149 shares of the enterprise software provider’s stock worth $108,360,000 after acquiring an additional 456,231 shares during the period. Finally, Farmers National Bank boosted its position in Oracle Corporation by 8.9% during the 2nd quarter. Farmers National Bank now owns 4,640 shares of the enterprise software provider’s stock worth $233,000 after acquiring an additional 380 shares during the period. Institutional investors own 58.64% 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.
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