Goldman Sachs Group set a $62.00 price target on Oracle (NYSE:ORCL) in a research report released on Thursday morning, Borsen Zeitung reports. The brokerage currently has a buy rating on the enterprise software provider’s stock.
ORCL has been the subject of several other reports. JPMorgan Chase & Co. set a $56.00 price objective on Oracle and gave the company a neutral rating in a report on Thursday. Cowen assumed coverage on Oracle in a report on Friday, August 16th. They issued a buy rating and a $65.00 price objective for the company. Monness Crespi & Hardt reaffirmed a hold rating on shares of Oracle in a report on Tuesday, September 10th. ValuEngine cut Oracle from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, UBS Group reaffirmed a neutral rating and issued a $54.00 price objective on shares of Oracle in a report on Friday, June 14th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have assigned a buy rating to the company. Oracle currently has a consensus rating of Hold and a consensus target price of $55.88.
ORCL opened at $53.75 on Thursday. Oracle has a 12-month low of $42.40 and a 12-month high of $60.50. The stock has a market cap of $179.77 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.57 and a beta of 1.18. The business has a 50 day moving average of $54.06 and a 200-day moving average of $54.46. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 2.31.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.09. The business had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Oracle had a return on equity of 45.61% and a net margin of 27.71%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. As a group, analysts expect that Oracle will post 3.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.79%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.
In other news, CEO Mark V. Hurd sold 787,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $51.80, for a total value of $40,792,500.00. Following the transaction, the chief executive officer now directly owns 1,038,755 shares of the company’s stock, valued at approximately $53,807,509. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO W Corey West sold 50,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $56.25, for a total value of $2,812,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 85,348 shares in the company, valued at $4,800,825. The disclosure for this sale can be found here. Insiders sold a total of 2,140,000 shares of company stock worth $117,501,425 in the last quarter. Corporate insiders own 32.00% of the company’s stock.
Several large investors have recently made changes to their positions in ORCL. Associated Banc Corp raised its stake in Oracle by 8.7% during the 2nd quarter. Associated Banc Corp now owns 18,697 shares of the enterprise software provider’s stock worth $1,065,000 after buying an additional 1,502 shares during the period. Meridian Financial Partners LLC raised its stake in Oracle by 2.2% during the 1st quarter. Meridian Financial Partners LLC now owns 10,181 shares of the enterprise software provider’s stock worth $555,000 after buying an additional 224 shares during the period. B. Riley Wealth Management Inc. raised its stake in shares of Oracle by 9.7% in the first quarter. B. Riley Wealth Management Inc. now owns 6,537 shares of the enterprise software provider’s stock worth $351,000 after purchasing an additional 578 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Oracle by 7.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,099,788 shares of the enterprise software provider’s stock worth $59,070,000 after purchasing an additional 77,283 shares during the last quarter. Finally, BSW Wealth Partners purchased a new stake in shares of Oracle in the second quarter worth approximately $297,000. 53.05% of the stock is currently owned by institutional investors.
Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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