Oracle (ORCL) Shares Gap Up to $48.84

Oracle Co. (NYSE:ORCL) gapped up before the market opened on Thursday . The stock had previously closed at $47.64, but opened at $48.84. Oracle shares last traded at $50.63, with a volume of 24318672 shares.

A number of equities research analysts have commented on the stock. Credit Suisse Group restated a “buy” rating and set a $60.00 target price on shares of Oracle in a research note on Tuesday, September 18th. Royal Bank of Canada raised their target price on shares of Oracle from $52.00 to $53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, September 18th. Goldman Sachs Group restated a “buy” rating and set a $55.00 target price on shares of Oracle in a research note on Tuesday, September 18th. KeyCorp restated a “hold” rating on shares of Oracle in a research note on Wednesday, September 12th. Finally, Wedbush restated a “neutral” rating and set a $49.00 target price on shares of Oracle in a research note on Tuesday, September 18th. Seventeen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $53.71.

The stock has a market cap of $202.18 billion, a PE ratio of 18.15, a P/E/G ratio of 1.64 and a beta of 1.12. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.43 and a current ratio of 3.43.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Monday, October 15th. Oracle’s dividend payout ratio (DPR) is presently 26.95%.

Oracle declared that its board has authorized a share repurchase plan on Monday, September 17th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to purchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

In related news, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The transaction 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 firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $47.26, for a total transaction of $177,225.00. Following the completion of the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,321,814.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 139,196 shares of company stock valued at $7,069,827. 32.00% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. WASHINGTON TRUST Co boosted its stake in Oracle by 4.2% during the third quarter. WASHINGTON TRUST Co now owns 25,547 shares of the enterprise software provider’s stock worth $1,317,000 after buying an additional 1,032 shares during the period. Cpwm LLC boosted its stake in Oracle by 6.5% during the second quarter. Cpwm LLC now owns 17,240 shares of the enterprise software provider’s stock worth $760,000 after buying an additional 1,050 shares during the period. Cypress Capital Group boosted its stake in Oracle by 3.9% during the third quarter. Cypress Capital Group now owns 28,108 shares of the enterprise software provider’s stock worth $1,449,000 after buying an additional 1,052 shares during the period. Honkamp Krueger Financial Services Inc. boosted its stake in Oracle by 9.2% during the third quarter. Honkamp Krueger Financial Services Inc. now owns 12,599 shares of the enterprise software provider’s stock worth $650,000 after buying an additional 1,059 shares during the period. Finally, Vista Investment Management boosted its stake in Oracle by 11.8% during the third quarter. Vista Investment Management now owns 10,095 shares of the enterprise software provider’s stock worth $520,000 after buying an additional 1,062 shares during the period. 53.14% of the stock is owned by hedge funds and other institutional investors.

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Oracle Company Profile (NYSE:ORCL)

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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