JPMorgan Chase & Co. set a $55.00 price target on Oracle (NYSE:ORCL) in a research report sent to investors on Monday, December 18th. The firm currently has a buy rating on the enterprise software provider’s stock.
A number of other research firms have also weighed in on ORCL. Wedbush reissued an outperform rating and issued a $58.00 price objective on shares of Oracle in a research report on Friday, September 15th. UBS Group reissued a buy rating and issued a $57.00 price objective (up previously from $52.00) on shares of Oracle in a research report on Friday, September 15th. Zacks Investment Research lowered shares of Oracle from a buy rating to a hold rating in a research report on Friday, September 15th. Jefferies Group boosted their price objective on shares of Oracle from $60.00 to $61.00 and gave the company a buy rating in a research report on Friday, September 15th. Finally, Oppenheimer reaffirmed a hold rating on shares of Oracle in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. Oracle presently has an average rating of Buy and a consensus target price of $55.28.
Shares of Oracle (NYSE ORCL) traded up $0.56 on Monday, reaching $49.51. 15,977,966 shares of the company’s stock were exchanged, compared to its average volume of 18,060,000. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $206,630.00, a PE ratio of 21.25, a P/E/G ratio of 1.87 and a beta of 1.05. Oracle has a one year low of $38.59 and a one 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 for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 earnings per share. research analysts predict that Oracle will post 2.68 earnings per share for the current fiscal year.
Oracle announced that its board has initiated a stock repurchase program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 annualized dividend and a yield of 1.54%. Oracle’s dividend payout ratio is currently 32.62%.
In other news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the transaction, the executive vice president now directly owns 136,954 shares in the company, valued at $6,517,640.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $48.70, for a total transaction of $182,625.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,250 shares of company stock valued at $5,306,238. 29.00% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Trellis Advisors LLC bought a new position in Oracle during the 4th quarter valued at $289,000. Hexavest Inc. boosted its stake in Oracle by 6.4% during the 4th quarter. Hexavest Inc. now owns 1,918,146 shares of the enterprise software provider’s stock valued at $90,690,000 after acquiring an additional 115,242 shares during the last quarter. Stillwater Capital Advisors LLC boosted its stake in Oracle by 26.1% during the 4th quarter. Stillwater Capital Advisors LLC now owns 288,101 shares of the enterprise software provider’s stock valued at $13,622,000 after acquiring an additional 59,595 shares during the last quarter. Daiwa SB Investments Ltd. bought a new position in Oracle during the 4th quarter valued at $971,000. Finally, Sawyer & Company Inc bought a new position in Oracle during the 4th quarter valued at $2,262,000. Institutional investors and hedge funds own 57.89% of the company’s stock.
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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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