Oracle (NYSE:ORCL) Price Target Raised to $240.00

Oracle (NYSE:ORCL) had its price objective raised by JMP Securities from $205.00 to $240.00 in a research note published on Thursday,Benzinga reports. JMP Securities currently has a market outperform rating on the enterprise software provider’s stock.

A number of other equities research analysts have also recently commented on ORCL. Westpark Capital raised their price objective on Oracle from $195.00 to $246.00 and gave the company a “buy” rating in a research note on Thursday. Stephens initiated coverage on shares of Oracle in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $167.00 target price for the company. UBS Group lifted their price target on Oracle from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley reiterated a “positive” rating on shares of Oracle in a research note on Monday, June 9th. Finally, Jefferies Financial Group increased their price objective on Oracle from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 9th. Twelve analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.32.

Oracle Stock Performance

NYSE ORCL opened at $215.54 on Thursday. The stock has a fifty day simple moving average of $152.88 and a 200 day simple moving average of $160.46. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The company has a market capitalization of $602.86 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 3.46 and a beta of 1.32. Oracle has a twelve month low of $118.86 and a twelve month high of $216.60.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The company had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the prior year, the company posted $1.63 earnings per share. Oracle’s revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts expect that Oracle will post 5 EPS for the current year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle’s dividend payout ratio is presently 46.08%.

Insider Buying and Selling at Oracle

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the completion of the transaction, the insider now owns 1,097,576 shares of the company’s stock, valued at $209,000,421.92. This trade represents a 26.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Naomi O. Seligman sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $145.81, for a total transaction of $291,620.00. Following the completion of the sale, the director now directly owns 34,630 shares in the company, valued at approximately $5,049,400.30. The trade was a 5.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 427,366 shares of company stock worth $80,183,723. 42.20% of the stock is owned by corporate insiders.

Institutional Trading of Oracle

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital & Planning LLC raised its position in shares of Oracle by 0.5% in the fourth quarter. Capital & Planning LLC now owns 15,727 shares of the enterprise software provider’s stock worth $2,621,000 after acquiring an additional 81 shares during the period. Brighton Jones LLC increased its stake in shares of Oracle by 189.3% in the 4th quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock valued at $25,593,000 after purchasing an additional 100,494 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Oracle in the 4th quarter worth about $51,084,000. Revolve Wealth Partners LLC boosted its position in Oracle by 8.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock worth $903,000 after purchasing an additional 404 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Oracle by 13.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 550,414 shares of the enterprise software provider’s stock valued at $91,395,000 after purchasing an additional 65,980 shares during the period. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Company Profile

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.