Credit Suisse Group set a $62.00 price target on Oracle (NYSE:ORCL) in a research note issued to investors on Wednesday, AnalystRatings.com reports. The brokerage currently has a buy rating on the enterprise software provider’s stock.
Several other analysts have also recently commented on the company. Morgan Stanley raised their target price on Oracle from $54.00 to $59.00 and gave the company an equal weight rating in a research report on Tuesday, May 21st. Cowen started coverage on Oracle in a research report on Friday, August 16th. They issued a buy rating and a $65.00 target price on the stock. UBS Group set a $57.00 target price on Oracle and gave the company a neutral rating in a research report on Thursday, September 12th. ValuEngine cut Oracle from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Monness Crespi & Hardt restated a hold rating on shares of Oracle in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $56.49.
Shares of Oracle stock opened at $53.47 on Wednesday. The company has a current ratio of 2.25, a quick ratio of 2.49 and a debt-to-equity ratio of 2.67. The business’s 50 day simple moving average is $53.39 and its 200-day simple moving average is $54.49. The stock has a market capitalization of $172.83 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.54 and a beta of 1.18. Oracle has a twelve month low of $42.40 and a twelve month high of $60.50.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, October 9th. Oracle’s payout ratio is currently 30.38%.
Oracle declared that its Board of Directors has initiated a share repurchase plan on Wednesday, September 11th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase up to 8.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, Director Renee Jo James sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $53.56, for a total transaction of $160,680.00. Following the completion of the sale, the director now directly owns 32,886 shares of the company’s stock, valued at approximately $1,761,374.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $56.92, for a total value of $5,692,000.00. Following the sale, the executive vice president now directly owns 177,919 shares of the company’s stock, valued at $10,127,149.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,285,143 shares of company stock valued at $69,358,709. 32.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Longview Partners Guernsey LTD boosted its stake in shares of Oracle by 16.9% during the 2nd quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock worth $1,267,227,000 after acquiring an additional 3,220,296 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Oracle by 1.7% during the 1st quarter. Clearbridge Investments LLC now owns 20,778,045 shares of the enterprise software provider’s stock worth $1,115,989,000 after acquiring an additional 345,982 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Oracle by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 15,567,402 shares of the enterprise software provider’s stock worth $886,875,000 after acquiring an additional 562,921 shares in the last quarter. Polen Capital Management LLC boosted its stake in shares of Oracle by 3.1% during the 2nd quarter. Polen Capital Management LLC now owns 14,444,171 shares of the enterprise software provider’s stock worth $822,884,000 after acquiring an additional 430,254 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Oracle by 5.0% in the first quarter. Boston Partners now owns 13,088,162 shares of the enterprise software provider’s stock worth $702,965,000 after buying an additional 626,663 shares during the period. 53.05% of the stock is owned by institutional investors and hedge funds.
Oracle Company Profile
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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