Credit Suisse Group Initiates Coverage on Oracle Corporation (ORCL)
Research analysts at Credit Suisse Group started coverage on shares of Oracle Corporation (NYSE:ORCL) in a research note issued on Tuesday. The firm set an “outperform” rating on the enterprise software provider’s stock.
A number of other equities research analysts have also commented on the stock. Vetr lowered shares of Oracle Corporation from a “buy” rating to a “hold” rating in a report on Sunday. ValuEngine raised shares of Oracle Corporation from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research lowered shares of Oracle Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Royal Bank Of Canada reissued a “buy” rating and set a $53.00 price objective on shares of Oracle Corporation in a report on Sunday, August 27th. Finally, BidaskClub lowered shares of Oracle Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirty have assigned a buy rating to the company’s stock. Oracle Corporation presently has an average rating of “Buy” and an average target price of $50.81.
Oracle Corporation (NYSE ORCL) opened at 50.62 on Tuesday. The firm has a market capitalization of $209.40 billion, a price-to-earnings ratio of 22.90 and a beta of 1.05. The stock has a 50 day moving average of $49.77 and a 200 day moving average of $46.37. Oracle Corporation has a 12-month low of $37.62 and a 12-month high of $51.85.
Oracle Corporation (NYSE:ORCL) last issued its quarterly earnings data on Wednesday, June 21st. The enterprise software provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.11. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The firm had revenue of $10.94 billion for the quarter, compared to analyst estimates of $10.45 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities research analysts anticipate that Oracle Corporation will post $2.95 earnings per share for the current year.
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In other news, EVP W Corey West sold 150,000 shares of Oracle Corporation stock in a transaction on Monday, June 26th. The stock was sold at an average price of $51.39, for a total transaction of $7,708,500.00. Following the completion of the sale, the executive vice president now owns 177,988 shares of the company’s stock, valued at $9,146,803.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Kurian sold 750,000 shares of Oracle Corporation stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total value of $37,845,000.00. Following the sale, the insider now directly owns 783,533 shares of the company’s stock, valued at approximately $39,537,075.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,817,500 shares of company stock valued at $91,560,925. Company insiders own 29.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ORCL. Macquarie Group Ltd. lifted its holdings in shares of Oracle Corporation by 6,353.4% during the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock worth $831,551,000 after buying an additional 18,351,920 shares in the last quarter. BT Investment Management Ltd acquired a new stake in shares of Oracle Corporation during the second quarter worth $459,738,000. Harris Associates L P lifted its holdings in shares of Oracle Corporation by 17.9% during the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after buying an additional 7,427,501 shares in the last quarter. FMR LLC lifted its holdings in shares of Oracle Corporation by 24.8% during the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock worth $1,658,750,000 after buying an additional 6,577,297 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Oracle Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after buying an additional 5,270,359 shares in the last quarter. 58.67% of the stock is owned by institutional investors.
Oracle Corporation Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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