KeyCorp Cuts Oracle (NYSE:ORCL) Price Target to $300.00

Oracle (NYSE:ORCL) had its price objective decreased by KeyCorp from $350.00 to $300.00 in a research note published on Thursday, Marketbeat reports. KeyCorp currently has an overweight rating on the enterprise software provider’s stock.

Several other research firms have also issued reports on ORCL. BMO Capital Markets cut their target price on Oracle from $355.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $375.00 price objective on shares of Oracle in a research report on Wednesday, November 26th. UBS Group increased their target price on shares of Oracle from $360.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Piper Sandler cut their price target on shares of Oracle from $380.00 to $290.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Mizuho upped their price target on Oracle from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Oracle has a consensus rating of “Moderate Buy” and a consensus price target of $301.57.

Oracle Trading Down 4.6%

ORCL stock opened at $189.64 on Thursday. The company has a debt-to-equity ratio of 3.28, a current ratio of 0.91 and a quick ratio of 0.62. The company has a market capitalization of $540.62 billion, a PE ratio of 35.65, a P/E/G ratio of 2.14 and a beta of 1.66. The firm’s 50-day moving average is $245.58 and its 200 day moving average is $241.39. Oracle has a 12 month low of $118.86 and a 12 month high of $345.72.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, December 10th. The enterprise software provider reported $2.26 EPS for the quarter, beating the consensus estimate of $1.64 by $0.62. The business had revenue of $16.06 billion during the quarter, compared to analyst estimates of $16.19 billion. Oracle had a net margin of 25.28% and a return on equity of 70.60%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.47 EPS. On average, research analysts anticipate that Oracle will post 5 EPS for the current year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, January 9th. Oracle’s dividend payout ratio is presently 37.59%.

Insider Buying and Selling at Oracle

In other news, EVP Maria Smith sold 5,000 shares of the stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $280.62, for a total value of $1,403,100.00. Following the transaction, the executive vice president directly owned 47,083 shares of the company’s stock, valued at approximately $13,212,431.46. This represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clayton M. Magouyrk sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $276.64, for a total transaction of $11,065,600.00. Following the transaction, the chief executive officer directly owned 154,030 shares of the company’s stock, valued at $42,610,859.20. This represents a 20.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 171,513 shares of company stock worth $50,397,893. 40.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oracle

Institutional investors and hedge funds have recently modified their holdings of the stock. Painted Porch Advisors LLC purchased a new position in Oracle during the third quarter valued at approximately $246,000. Tull Financial Group Inc. grew its stake in shares of Oracle by 5.8% during the 3rd quarter. Tull Financial Group Inc. now owns 1,000 shares of the enterprise software provider’s stock worth $281,000 after purchasing an additional 55 shares during the period. Strategic Investment Solutions Inc. IL increased its holdings in shares of Oracle by 1,753.0% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,223 shares of the enterprise software provider’s stock valued at $344,000 after purchasing an additional 1,157 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Oracle by 1.1% in the 3rd quarter. Allworth Financial LP now owns 320,789 shares of the enterprise software provider’s stock valued at $90,219,000 after purchasing an additional 3,465 shares during the period. Finally, Swiss Life Asset Management Ltd grew its position in Oracle by 3.3% during the third quarter. Swiss Life Asset Management Ltd now owns 510,345 shares of the enterprise software provider’s stock valued at $143,529,000 after buying an additional 16,167 shares during the period. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Company Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.