Royal Bank of Canada Analysts Give Oracle (ORCL) a $53.00 Price Target
Royal Bank of Canada set a $53.00 price objective on Oracle (NYSE:ORCL) in a research note issued to investors on Tuesday morning. The firm currently has a buy rating on the enterprise software provider’s stock.
A number of other brokerages also recently commented on ORCL. Vetr downgraded shares of Oracle from a sell rating to a strong sell rating and set a $46.58 target price on the stock. in a research note on Tuesday, September 12th. Rosenblatt Securities restated a buy rating and issued a $58.00 target price on shares of Oracle in a research note on Monday, September 11th. Canaccord Genuity started coverage on shares of Oracle in a research note on Friday, October 6th. They issued a buy rating and a $57.00 target price on the stock. BTIG Research restated a buy rating and issued a $58.00 target price on shares of Oracle in a research note on Tuesday, September 19th. Finally, Moffett Nathanson started coverage on shares of Oracle in a research note on Wednesday, September 6th. They issued a buy rating and a $65.00 target price on the stock. Fourteen equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. Oracle has a consensus rating of Buy and an average target price of $55.02.
Shares of Oracle (ORCL) traded up $0.14 during mid-day trading on Tuesday, reaching $50.19. 22,259,200 shares of the company’s stock were exchanged, compared to its average volume of 13,348,773. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.63 and a quick ratio of 3.61. The company has a market cap of $208,882.97, a P/E ratio of 19.63, a P/E/G ratio of 1.90 and a beta of 1.05. Oracle has a twelve month low of $38.30 and a twelve month high of $53.14.
Oracle announced that its board has approved a share buyback plan on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.51%. Oracle’s payout ratio is 33.19%.
In related news, EVP Dorian Daley sold 23,297 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $49.00, for a total transaction of $1,141,553.00. Following the completion of the sale, the executive vice president now owns 54,274 shares of the company’s stock, valued at $2,659,426. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total transaction of $183,112.50. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $885,043.75. The disclosure for this sale can be found here. Insiders have sold 302,026 shares of company stock valued at $14,633,187 in the last three months. 29.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ORCL. Macquarie Group Ltd. raised its holdings in shares of Oracle by 6,353.4% in 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 during the last quarter. BT Investment Management Ltd purchased a new position in shares of Oracle during the second quarter worth $459,738,000. Harris Associates L P raised its holdings in shares of Oracle 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 purchasing an additional 7,427,501 shares during the last quarter. FMR LLC raised its holdings in shares of Oracle 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 purchasing an additional 6,577,297 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Oracle 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 purchasing an additional 5,270,359 shares during the last quarter. 57.70% of the stock is owned by institutional investors and hedge funds.
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Oracle 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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