Brokerages Set Oracle Co. (ORCL) PT at $54.02

Oracle Co. (NYSE:ORCL) has been assigned an average recommendation of “Hold” from the thirty-four research firms that are currently covering the stock, Marketbeat reports. Seventeen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $54.02.

ORCL has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of Oracle from $48.00 to $51.00 and gave the stock a “positive” rating in a report on Thursday, August 9th. Societe Generale set a $50.00 price objective on shares of Oracle and gave the stock a “neutral” rating in a report on Tuesday, August 14th. Zacks Investment Research lowered shares of Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Barclays upped their price objective on shares of Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. Finally, KeyCorp restated a “hold” rating on shares of Oracle in a report on Wednesday, September 12th.

NYSE:ORCL traded up $0.24 on Thursday, hitting $48.83. The stock had a trading volume of 17,147,703 shares, compared to its average volume of 19,012,656. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43. The firm has a market capitalization of $202.14 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 1.64 and a beta of 1.12. Oracle has a 1-year low of $42.57 and a 1-year high of $53.48.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. Oracle’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 EPS. As a group, equities analysts anticipate that Oracle will post 3.06 earnings per share for the current fiscal year.

Oracle announced that its Board of Directors has authorized a stock repurchase program on Monday, September 17th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Monday, October 15th. Oracle’s payout ratio is currently 26.95%.

In other Oracle news, EVP Dorian Daley sold 131,696 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the sale, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $47.77, for a total transaction of $179,137.50. Following the completion of the sale, the director now directly owns 27,969 shares in the company, valued at $1,336,079.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,946 shares of company stock worth $7,248,965. 32.00% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. FMR LLC grew its position in shares of Oracle by 21.4% in the 2nd quarter. FMR LLC now owns 47,683,832 shares of the enterprise software provider’s stock valued at $2,100,949,000 after buying an additional 8,401,411 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Oracle in the 2nd quarter valued at $218,896,000. Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Oracle by 787.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,944,051 shares of the enterprise software provider’s stock valued at $85,654,000 after buying an additional 1,725,077 shares during the last quarter. Putnam Investments LLC grew its position in shares of Oracle by 202.1% in the 2nd quarter. Putnam Investments LLC now owns 2,136,058 shares of the enterprise software provider’s stock valued at $94,115,000 after buying an additional 1,428,924 shares during the last quarter. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Oracle in the 2nd quarter valued at $54,770,000. 53.45% of the stock is currently owned by institutional investors.

About Oracle

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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