Bank of America Raises Oracle (NYSE:ORCL) Price Target to $155.00

Oracle (NYSE:ORCLFree Report) had its target price hoisted by Bank of America from $144.00 to $155.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the enterprise software provider’s stock.

Several other brokerages also recently commented on ORCL. Morgan Stanley increased their target price on shares of Oracle from $115.00 to $125.00 and gave the company an equal weight rating in a report on Wednesday. KeyCorp increased their target price on shares of Oracle from $150.00 to $165.00 and gave the company an overweight rating in a report on Wednesday. TD Cowen increased their price target on shares of Oracle from $145.00 to $165.00 and gave the company a buy rating in a research report on Wednesday. Oppenheimer assumed coverage on shares of Oracle in a research report on Thursday, April 18th. They set a market perform rating for the company. Finally, William Blair upgraded shares of Oracle from a market perform rating to an outperform rating in a research report on Tuesday, March 12th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $141.50.

View Our Latest Report on Oracle

Oracle Stock Performance

ORCL opened at $138.13 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The company’s fifty day moving average price is $121.04 and its two-hundred day moving average price is $116.13. Oracle has a 1-year low of $99.26 and a 1-year high of $142.40. The company has a market cap of $379.65 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 2.50 and a beta of 1.01.

Oracle (NYSE:ORCLGet Free Report) last announced its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.02). The firm had revenue of $14.29 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Oracle had a net margin of 19.76% and a return on equity of 223.01%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 EPS. On average, analysts expect that Oracle will post 5.01 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, July 11th. Oracle’s dividend payout ratio is currently 43.13%.

Insider Activity at Oracle

In related news, CEO Safra Catz sold 790,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $126.54, for a total value of $99,966,600.00. Following the sale, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at $141,546,631.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Oracle news, CEO Safra Catz sold 790,000 shares of Oracle stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $126.54, for a total transaction of $99,966,600.00. Following the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at $141,546,631.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George H. Conrades sold 20,000 shares of Oracle stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $116.00, for a total transaction of $2,320,000.00. Following the transaction, the director now directly owns 17,836 shares in the company, valued at $2,068,976. The disclosure for this sale can be found here. Insiders have sold 880,000 shares of company stock valued at $110,488,150 over the last three months. 42.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ORCL. Norges Bank bought a new position in shares of Oracle in the fourth quarter worth approximately $1,210,181,000. Wellington Management Group LLP grew its holdings in shares of Oracle by 9,299.3% in the third quarter. Wellington Management Group LLP now owns 8,170,999 shares of the enterprise software provider’s stock worth $865,472,000 after purchasing an additional 8,084,067 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Oracle by 5.7% in the third quarter. Vanguard Group Inc. now owns 147,273,413 shares of the enterprise software provider’s stock worth $15,599,200,000 after purchasing an additional 7,883,515 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Oracle by 148.8% in the first quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock worth $1,616,855,000 after purchasing an additional 7,699,141 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of Oracle by 382.4% in the fourth quarter. Boston Partners now owns 4,563,366 shares of the enterprise software provider’s stock worth $481,820,000 after purchasing an additional 3,617,413 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

About Oracle

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Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

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