Oracle (NYSE:ORCL) was downgraded by Nomura from a “buy” rating to a “neutral” rating in a research note issued on Tuesday.
Several other research firms also recently issued reports on ORCL. Wedbush reaffirmed a “buy” rating and set a $58.00 price objective on shares of Oracle in a report on Friday, December 15th. Canaccord Genuity reduced their price objective on Oracle from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, December 15th. Vetr downgraded Oracle from a “buy” rating to a “hold” rating and set a $51.82 price objective on the stock. in a report on Wednesday, January 17th. Credit Suisse Group reduced their price objective on Oracle from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. set a $55.00 price objective on Oracle and gave the stock a “buy” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $56.17.
Oracle (NYSE:ORCL) traded down $4.99 during trading hours on Tuesday, reaching $46.96. The company’s stock had a trading volume of 35,775,861 shares, compared to its average volume of 16,235,016. Oracle has a 12-month low of $43.60 and a 12-month high of $53.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07. The firm has a market cap of $216,377.00, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 1.99 and a beta of 1.05.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.11. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter in the prior year, the business earned $0.69 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. analysts forecast that Oracle will post 2.68 EPS for the current fiscal year.
Oracle declared that its board has initiated a share buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $52.19, for a total transaction of $195,712.50. Following the completion of the transaction, the director now owns 18,125 shares in the company, valued at approximately $945,943.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dorian Daley sold 100,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $52.00, for a total value of $5,200,000.00. Following the transaction, the executive vice president now owns 37,576 shares of the company’s stock, valued at approximately $1,953,952. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,956,250 shares of company stock valued at $98,330,688. Corporate insiders own 29.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Strategy Asset Managers LLC boosted its stake in shares of Oracle by 22.3% during the 3rd quarter. Strategy Asset Managers LLC now owns 257,359 shares of the enterprise software provider’s stock worth $12,443,000 after buying an additional 46,866 shares during the last quarter. BT Investment Management Ltd acquired a new position in shares of Oracle during the 2nd quarter worth about $459,738,000. CIBC World Markets Inc. boosted its stake in shares of Oracle by 51.3% during the 2nd quarter. CIBC World Markets Inc. now owns 231,515 shares of the enterprise software provider’s stock worth $11,608,000 after buying an additional 78,482 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Oracle by 7.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 170,840 shares of the enterprise software provider’s stock worth $8,566,000 after buying an additional 11,244 shares during the last quarter. Finally, Polen Capital Management LLC boosted its stake in shares of Oracle by 7.3% during the 2nd quarter. Polen Capital Management LLC now owns 12,620,261 shares of the enterprise software provider’s stock worth $632,780,000 after buying an additional 854,240 shares during the last quarter. Hedge funds and other institutional investors own 57.93% of the company’s stock.
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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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