Oracle (NYSE:ORCL) Price Target Raised to $56.00 at Wedbush

Oracle (NYSE:ORCL) had its price target upped by Wedbush from $55.00 to $56.00 in a research note issued to investors on Friday, The Fly reports. Wedbush currently has a neutral rating on the enterprise software provider’s stock.

A number of other brokerages have also recently commented on ORCL. Zacks Investment Research cut shares of Oracle from a hold rating to a sell rating in a research note on Tuesday, November 26th. BMO Capital Markets lifted their price objective on shares of Oracle from $60.00 to $62.00 and gave the stock a market perform rating in a research note on Friday, September 27th. They noted that the move was a valuation call. ValuEngine cut shares of Oracle from a hold rating to a sell rating in a research note on Tuesday, December 3rd. Argus reissued a buy rating on shares of Oracle in a research note on Friday, September 13th. Finally, Sanford C. Bernstein set a $66.00 price objective on shares of Oracle and gave the stock a buy rating in a research note on Thursday, September 12th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company. Oracle presently has an average rating of Hold and an average target price of $56.58.

ORCL traded down $1.96 during trading on Friday, hitting $54.51. 21,158,001 shares of the company traded hands, compared to its average volume of 9,048,991. The company has a market cap of $184.84 billion, a PE ratio of 17.25, a P/E/G ratio of 1.67 and a beta of 1.14. The stock’s 50-day simple moving average is $55.63 and its two-hundred day simple moving average is $55.06. Oracle has a 1 year low of $42.40 and a 1 year high of $60.50. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 2.67.

Oracle (NYSE:ORCL) last posted its earnings results on Thursday, December 12th. The enterprise software provider reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.65 billion. Oracle had a net margin of 27.71% and a return on equity of 48.85%. Oracle’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company posted $0.80 earnings per share. Equities analysts expect that Oracle will post 3.45 EPS for the current year.

Oracle announced that its Board of Directors has authorized a share repurchase plan on Wednesday, September 11th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the enterprise software provider to reacquire up to 8.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.76%. Oracle’s dividend payout ratio is presently 30.38%.

In related news, Director Renee Jo James sold 3,000 shares of Oracle stock in a transaction dated Thursday, September 19th. The shares were 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 owns 32,886 shares in the company, valued at approximately $1,761,374.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dorian Daley sold 50,000 shares of Oracle stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at approximately $2,750,500. The disclosure for this sale can be found here. Insiders have sold a total of 76,479 shares of company stock valued at $4,223,049 in the last quarter. 36.60% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kanawha Capital Management LLC raised its holdings in shares of Oracle by 1.4% in the 2nd quarter. Kanawha Capital Management LLC now owns 182,520 shares of the enterprise software provider’s stock valued at $10,398,000 after purchasing an additional 2,515 shares in the last quarter. KBC Group NV raised its holdings in shares of Oracle by 30.4% in the 2nd quarter. KBC Group NV now owns 2,505,761 shares of the enterprise software provider’s stock valued at $142,753,000 after purchasing an additional 584,865 shares in the last quarter. Coastal Investment Advisors Inc. raised its holdings in shares of Oracle by 22.8% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,575 shares of the enterprise software provider’s stock valued at $148,000 after purchasing an additional 478 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Oracle by 7.4% in the 2nd quarter. Advisory Services Network LLC now owns 35,926 shares of the enterprise software provider’s stock valued at $2,047,000 after purchasing an additional 2,460 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Oracle in the 2nd quarter valued at about $226,000. Institutional investors own 51.09% of the company’s stock.

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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