Oracle Corporation (ORCL) Receives Overweight Rating from Wells Fargo & Company

Wells Fargo & Company reiterated their overweight rating on shares of Oracle Corporation (NYSE:ORCL) in a research note released on Monday. Wells Fargo & Company currently has a $62.50 price target on the enterprise software provider’s stock.

Other analysts have also issued reports about the stock. Bank of America Corporation reissued a buy rating and set a $62.00 price target on shares of Oracle Corporation in a research report on Monday. Vetr raised shares of Oracle Corporation from a strong sell rating to a sell rating and set a $46.58 price target for the company in a research report on Monday. Stifel Nicolaus reissued a buy rating and set a $53.00 price target (up from $52.00) on shares of Oracle Corporation in a research report on Saturday. Canaccord Genuity reissued a buy rating and set a $57.00 price target (up from $56.00) on shares of Oracle Corporation in a research report on Saturday. Finally, Barclays PLC increased their price target on shares of Oracle Corporation from $55.00 to $59.00 and gave the company an overweight rating in a research report on Friday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have given a buy rating to the company’s stock. Oracle Corporation currently has an average rating of Buy and an average price target of $53.04.

Oracle Corporation (NYSE ORCL) opened at 48.33 on Monday. The stock has a market capitalization of $199.93 billion, a PE ratio of 21.87 and a beta of 1.05. The company’s 50-day moving average is $49.90 and its 200-day moving average is $47.08. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $53.14.

Oracle Corporation (NYSE:ORCL) last released its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The company had revenue of $9.21 billion during the quarter, compared to analyst estimates of $9.03 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts forecast that Oracle Corporation will post $2.94 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, October 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.57%. Oracle Corporation’s dividend payout ratio is presently 33.19%.

In other news, EVP W Corey West sold 150,000 shares of Oracle Corporation stock in a transaction on Monday, June 26th. The stock was sold at an average price of $51.39, for a total transaction of $7,708,500.00. Following the transaction, 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 SEC, which can be accessed through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corporation stock in a transaction on Friday, September 15th. The stock was sold at an average price of $50.35, for a total value of $188,812.50. Following the transaction, the director now owns 18,125 shares in the company, valued at approximately $912,593.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,817,500 shares of company stock worth $91,582,600. Insiders own 29.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC increased its position in shares of Oracle Corporation by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after purchasing an additional 1,800 shares during the last quarter. Burt Wealth Advisors increased its position in shares of Oracle Corporation by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after purchasing an additional 88 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in shares of Oracle Corporation by 1,150.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock worth $112,000 after purchasing an additional 2,300 shares during the last quarter. TrimTabs Asset Management LLC increased its position in shares of Oracle Corporation by 88.8% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock worth $120,000 after purchasing an additional 1,264 shares during the last quarter. Finally, Baystate Wealth Management LLC increased its position in shares of Oracle Corporation by 9.2% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock worth $123,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for Oracle Corporation (NYSE:ORCL)

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