Oracle (NYSE:ORCL) PT Set at $62.00 by Credit Suisse Group
Credit Suisse Group set a $62.00 price target on Oracle (NYSE:ORCL) in a research report report published on Wednesday morning, AnalystRatings.com reports. The firm currently has a buy rating on the enterprise software provider’s stock.
ORCL has been the topic of a number of other reports. Royal Bank of Canada set a $57.00 price objective on Oracle and gave the stock a neutral rating in a research note on Thursday, September 12th. Wedbush reiterated a neutral rating and issued a $55.00 price objective on shares of Oracle in a research note on Friday, September 13th. ValuEngine lowered Oracle from a buy rating to a hold rating in a research note on Thursday, August 1st. Macquarie reiterated a hold rating on shares of Oracle in a research note on Thursday, September 12th. Finally, Monness Crespi & Hardt reiterated a hold rating on shares of Oracle in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have given a buy rating to the company. Oracle presently has an average rating of Hold and a consensus target price of $56.49.
NYSE ORCL opened at $53.47 on Wednesday. Oracle has a fifty-two week low of $42.40 and a fifty-two week high of $60.50. The stock’s 50-day moving average is $53.39 and its two-hundred day moving average is $54.49. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.25 and a quick ratio of 2.49. The firm has a market cap of $172.83 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.54 and a beta of 1.18.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be issued 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 30.38%.
Oracle announced that its board has authorized a share repurchase plan on Wednesday, September 11th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to purchase up to 8.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, CEO Mark V. Hurd sold 787,500 shares of Oracle stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $51.80, for a total value of $40,792,500.00. Following the completion of the transaction, the chief executive officer now owns 1,038,755 shares in the company, valued at $53,807,509. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $56.92, for a total transaction of $5,692,000.00. Following the completion of the transaction, the executive vice president now owns 177,919 shares of the company’s stock, valued at approximately $10,127,149.48. The disclosure for this sale can be found here. Insiders have sold 1,285,143 shares of company stock worth $69,358,709 over the last ninety days. Company insiders own 32.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Evolution Wealth Advisors LLC raised its stake in shares of Oracle by 346.0% in the second quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock valued at $25,000 after acquiring an additional 346 shares during the last quarter. Next Capital Management LLC bought a new position in shares of Oracle in the second quarter valued at approximately $36,000. Covenant Multifamily Offices LLC bought a new position in shares of Oracle in the first quarter valued at approximately $35,000. Shamrock Asset Management LLC raised its stake in shares of Oracle by 577.0% in the second quarter. Shamrock Asset Management LLC now owns 677 shares of the enterprise software provider’s stock valued at $39,000 after acquiring an additional 577 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Oracle in the second quarter valued at approximately $40,000. Institutional investors own 53.05% of the company’s stock.
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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