Oracle (NYSE:ORCL) had its price objective lifted by research analysts at Barclays from $56.00 to $60.00 in a report released on Monday. The firm currently has an “overweight” rating on the enterprise software provider’s stock. Barclays’ price target suggests a potential upside of 14.11% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other analysts have also issued reports about the company. Goldman Sachs Group set a $58.00 price target on Oracle and gave the stock a “buy” rating in a research note on Friday, December 15th. Canaccord Genuity decreased their price target on Oracle from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, December 15th. Jefferies Group set a $61.00 price target on Oracle and gave the stock a “buy” rating in a research note on Friday, December 15th. JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $62.00 price target on shares of Oracle in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have assigned a buy rating to the company. Oracle has an average rating of “Buy” and a consensus target price of $55.76.
Shares of Oracle (NYSE ORCL) opened at $52.58 on Monday. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. Oracle has a 52 week low of $42.40 and a 52 week high of $53.48. The stock has a market capitalization of $217,660.00, a PE ratio of 22.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.05.
Oracle announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 14th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the sale, the executive vice president now directly owns 136,954 shares in the company, valued at approximately $6,517,640.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $48.40, for a total value of $181,500.00. Following the sale, the director now owns 18,125 shares in the company, valued at $877,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,956,250 shares of company stock worth $98,316,475. Company insiders own 29.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ORCL. Strategy Asset Managers LLC grew its position in shares of Oracle by 22.3% in the 3rd quarter. Strategy Asset Managers LLC now owns 257,359 shares of the enterprise software provider’s stock worth $12,443,000 after acquiring an additional 46,866 shares in the last quarter. BT Investment Management Ltd acquired a new position in shares of Oracle in the 2nd quarter worth approximately $459,738,000. CIBC World Markets Inc. grew its position in shares of Oracle by 51.3% in the 2nd quarter. CIBC World Markets Inc. now owns 231,515 shares of the enterprise software provider’s stock worth $11,608,000 after acquiring an additional 78,482 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Oracle by 7.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 170,840 shares of the enterprise software provider’s stock worth $8,566,000 after acquiring an additional 11,244 shares in the last quarter. Finally, Polen Capital Management LLC grew its position in shares of Oracle by 7.3% in 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 acquiring an additional 854,240 shares in the last quarter. Institutional investors own 58.03% of the company’s stock.
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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