Sanford C. Bernstein set a $66.00 price objective on Oracle (NYSE:ORCL) in a report published on Thursday morning, AnalystRatings.com reports. The brokerage currently has a buy rating on the enterprise software provider’s stock.
Several other research analysts have also commented on the stock. Cowen initiated coverage on shares of Oracle in a report on Friday, August 16th. They issued a buy rating and a $65.00 price target for the company. Jefferies Financial Group boosted their target price on shares of Oracle from $61.00 to $66.00 and gave the company a buy rating in a research note on Thursday, June 20th. Wells Fargo & Co boosted their target price on shares of Oracle from $60.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, June 20th. Raymond James boosted their target price on shares of Oracle from $57.00 to $61.00 and gave the company an outperform rating in a research note on Thursday, June 20th. Finally, KeyCorp reissued a hold rating on shares of Oracle in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $55.88.
Shares of NYSE ORCL traded down $0.13 during midday trading on Thursday, hitting $53.76. The company’s stock had a trading volume of 848,909 shares, compared to its average volume of 9,948,703. Oracle has a 1-year low of $42.40 and a 1-year high of $60.50. The firm’s fifty day moving average price is $54.15 and its 200-day moving average price is $54.46. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.49 and a current ratio of 2.49. The firm has a market cap of $185.04 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.62 and a beta of 1.18.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.09. Oracle had a net margin of 28.06% and a return on equity of 40.95%. The business had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the business posted $0.71 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts predict that Oracle will post 3.49 earnings per share for the current fiscal 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 dividend of $0.24 per share. 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 30.38%.
In related news, CAO W Corey West sold 50,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 85,348 shares in the company, valued at approximately $4,800,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark V. Hurd sold 787,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $51.80, for a total transaction of $40,792,500.00. Following the completion of the sale, the chief executive officer now owns 1,038,755 shares in the company, valued at $53,807,509. The disclosure for this sale can be found here. Insiders have sold a total of 2,140,000 shares of company stock worth $117,501,425 over the last 90 days. 32.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evolution Wealth Advisors LLC raised its holdings in shares of Oracle by 346.0% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock worth $25,000 after purchasing an additional 346 shares in the last quarter. Investors Research Corp bought a new stake in shares of Oracle in the 1st quarter worth approximately $30,000. Covenant Multifamily Offices LLC bought a new stake in shares of Oracle in the 1st quarter worth approximately $35,000. Next Capital Management LLC bought a new stake in shares of Oracle in the 2nd quarter worth approximately $36,000. Finally, Shamrock Asset Management LLC raised its holdings in shares of Oracle by 577.0% during the second quarter. Shamrock Asset Management LLC now owns 677 shares of the enterprise software provider’s stock valued at $39,000 after acquiring an additional 577 shares during the period. Institutional investors and hedge funds own 53.05% of the company’s stock.
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.
Further Reading: The limitations of an equal weight rating
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