Drexel Hamilton reiterated their buy rating on shares of Oracle (NYSE:ORCL) in a research note published on Tuesday, January 2nd. They currently have a $62.00 target price on the enterprise software provider’s stock.
“We believe these reports are inaccurate and we would be buyers of Oracle on any weakness this afternoon.”,” the firm’s analyst commented.
ORCL has been the topic of several other research reports. BidaskClub upgraded Oracle from a hold rating to a buy rating in a report on Tuesday, September 12th. Rosenblatt Securities restated a buy rating and set a $58.00 price target on shares of Oracle in a report on Monday, September 11th. Moffett Nathanson began coverage on Oracle in a report on Wednesday, September 6th. They set a buy rating and a $65.00 price target on the stock. Zacks Investment Research upgraded Oracle from a hold rating to a buy rating and set a $59.00 price target on the stock in a report on Thursday, September 14th. Finally, JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the stock a buy rating in a report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $55.28.
Shares of Oracle (ORCL) opened at $49.51 on Tuesday. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $202,633.53, a price-to-earnings ratio of 21.25, a P/E/G ratio of 1.87 and a beta of 1.05. Oracle has a 1-year low of $38.59 and a 1-year high of $53.14.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The firm had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS. research analysts forecast that Oracle will post 2.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a $0.19 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.54%. Oracle’s dividend payout ratio (DPR) is presently 32.62%.
Oracle announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 14th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the sale, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $48.70, for a total value of $182,625.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,250 shares of company stock valued at $5,306,238. Insiders own 29.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ORCL. Northwestern Mutual Investment Management Company LLC lifted its position in Oracle by 76.0% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 605,834 shares of the enterprise software provider’s stock worth $27,026,000 after acquiring an additional 261,685 shares during the period. Private Advisor Group LLC raised its stake in shares of Oracle by 11.8% during the 1st quarter. Private Advisor Group LLC now owns 100,194 shares of the enterprise software provider’s stock worth $4,459,000 after buying an additional 10,588 shares in the last quarter. South Texas Money Management Ltd. purchased a new position in shares of Oracle during the 1st quarter worth approximately $213,000. Chatham Capital Group Inc. raised its stake in shares of Oracle by 29.7% during the 1st quarter. Chatham Capital Group Inc. now owns 8,218 shares of the enterprise software provider’s stock worth $366,000 after buying an additional 1,884 shares in the last quarter. Finally, GWM Advisors LLC raised its stake in shares of Oracle by 2.4% during the 1st quarter. GWM Advisors LLC now owns 6,923 shares of the enterprise software provider’s stock worth $307,000 after buying an additional 165 shares in the last quarter. 57.89% of the stock is owned by institutional investors.
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Oracle Company Profile
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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