Oracle Corporation (ORCL) Stock Rating Upgraded by Vetr Inc.
Vetr upgraded shares of Oracle Corporation (NYSE:ORCL) from a strong sell rating to a sell rating in a research report report published on Monday morning. Vetr currently has $46.58 price objective on the enterprise software provider’s stock.
Several other brokerages have also commented on ORCL. UBS AG reaffirmed a buy rating and issued a $57.00 price target (up previously from $52.00) on shares of Oracle Corporation in a research note on Friday, September 15th. Barclays PLC upped their price target on Oracle Corporation from $55.00 to $59.00 and gave the company an overweight rating in a research note on Friday, September 15th. J P Morgan Chase & Co set a $55.00 price target on Oracle Corporation and gave the company a buy rating in a research note on Friday, September 15th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Oracle Corporation in a research note on Friday, September 15th. Finally, Jefferies Group LLC upped their price target on Oracle Corporation from $60.00 to $61.00 and gave the company a buy rating in a research note on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $53.33.
Shares of Oracle Corporation (NYSE ORCL) opened at 47.97 on Monday. The company has a market capitalization of $198.44 billion, a P/E ratio of 21.71 and a beta of 1.05. The stock’s 50 day moving average price is $49.85 and its 200 day moving average price is $47.11. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $53.14.
Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The business had revenue of $9.21 billion for the quarter, compared to analyst estimates of $9.03 billion. During the same quarter in the prior year, the company posted $0.55 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Oracle Corporation will post $2.93 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, October 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.58%. Oracle Corporation’s dividend payout ratio is currently 33.19%.
In related 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 transaction, the executive vice president now directly owns 177,988 shares of the company’s stock, valued at $9,146,803.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Dorian Daley sold 200,000 shares of Oracle Corporation stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $50.94, for a total value of $10,188,000.00. Following the transaction, the executive vice president now directly owns 130,977 shares of the company’s stock, valued at $6,671,968.38. The disclosure for this sale can be found here. Insiders sold a total of 1,712,500 shares of company stock valued at $86,140,450 over the last three months. Insiders own 29.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. MPS Loria Financial Planners LLC acquired a new position in Oracle Corporation during the second quarter worth $180,000. Burgundy Asset Management Ltd. raised its holdings in Oracle Corporation by 1.0% during the second quarter. Burgundy Asset Management Ltd. now owns 6,086,871 shares of the enterprise software provider’s stock worth $305,196,000 after purchasing an additional 60,828 shares during the last quarter. Intl Fcstone Inc. acquired a new position in Oracle Corporation during the second quarter worth $274,000. Lord Abbett & CO. LLC raised its holdings in Oracle Corporation by 26.8% during the second quarter. Lord Abbett & CO. LLC now owns 2,161,149 shares of the enterprise software provider’s stock worth $108,360,000 after purchasing an additional 456,231 shares during the last quarter. Finally, Farmers National Bank raised its holdings in Oracle Corporation by 8.9% during the second quarter. Farmers National Bank now owns 4,640 shares of the enterprise software provider’s stock worth $233,000 after purchasing an additional 380 shares during the last quarter. 58.64% of the stock is owned by hedge funds and other institutional investors.
About Oracle Corporation
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.
To view Vetr’s full report, visit Vetr’s official website.
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