Oracle (ORCL) Price Target Cut to $53.00 by Analysts at Canaccord Genuity

Oracle (NYSE:ORCL) had its price objective cut by Canaccord Genuity from $57.00 to $53.00 in a report released on Friday morning. They currently have a buy rating on the enterprise software provider’s stock.

Several other brokerages also recently weighed in on ORCL. Wedbush restated an outperform rating and set a $58.00 price objective on shares of Oracle in a research report on Friday, September 15th. UBS reiterated a buy rating and issued a $57.00 price target (up previously from $52.00) on shares of Oracle in a research report on Friday, September 15th. J P Morgan Chase & Co set a $55.00 price target on shares of Oracle and gave the company a buy rating in a research report on Friday, September 15th. Zacks Investment Research downgraded shares of Oracle from a buy rating to a hold rating in a research report on Friday, September 15th. Finally, Jefferies Group upped their price target 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. Fourteen research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $55.02.

Shares of Oracle (NYSE:ORCL) traded down $1.89 during trading hours on Friday, hitting $48.30. 75,172,521 shares of the stock traded hands, compared to its average volume of 14,205,022. The stock has a market cap of $209,467.25, a P/E ratio of 19.16, a PEG ratio of 1.91 and a beta of 1.05. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 0.86. Oracle has a twelve month low of $38.30 and a twelve month high of $53.14.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.72%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. equities research analysts expect that Oracle will post 2.68 EPS for the current fiscal year.

The company 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 $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.57%. Oracle’s dividend payout ratio is currently 32.62%.

Oracle declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

In other news, EVP Dorian Daley sold 25,776 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $48.05, for a total transaction of $1,238,536.80. Following the transaction, the executive vice president now directly owns 30,977 shares of the company’s stock, valued at approximately $1,488,444.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George H. Conrades sold 56,250 shares of the company’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $48.25, for a total transaction of $2,714,062.50. Following the transaction, the director now directly owns 66,250 shares in the company, valued at $3,196,562.50. The disclosure for this sale can be found here. Insiders sold a total of 302,026 shares of company stock worth $14,633,187 over the last three months. 29.00% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Keel Point LLC boosted its position in shares of Oracle by 0.3% in the 2nd quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock worth $268,000 after buying an additional 14 shares in the last quarter. Joel Isaacson & Co. LLC boosted its position in shares of Oracle by 0.3% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock worth $411,000 after buying an additional 24 shares in the last quarter. Flagship Harbor Advisors LLC boosted its position in shares of Oracle by 0.4% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock worth $404,000 after buying an additional 35 shares in the last quarter. Partnervest Advisory Services LLC boosted its position in shares of Oracle by 0.6% in the 2nd quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock worth $337,000 after buying an additional 39 shares in the last quarter. Finally, Bell Bank boosted its position in shares of Oracle by 0.9% in the 1st quarter. Bell Bank now owns 6,079 shares of the enterprise software provider’s stock worth $271,000 after buying an additional 57 shares in the last quarter. 57.70% of the stock is currently owned by institutional investors and hedge funds.

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About Oracle

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 (NYSE:ORCL)

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