Oracle Corporation (ORCL) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research cut shares of Oracle Corporation (NYSE:ORCL) from a buy rating to a hold rating in a research note released on Monday.
According to Zacks, “Oracle is benefiting from significant momentum in the SaaS and PaaS offerings. This has also helped in improving the company's competitive position against salesforce.com and Workday. We believe the company’s growing cloud market share will continue to drive top-line growth for the foreseeable future. The stock has outperformed the industry on a year-to-date basis driven by these factors. We believe the company’s growing cloud market share will continue to drive top-line growth for the foreseeable future. Moreover, Oracle continues to win new customers in HCM, ERP and CX. Meanwhile, estimates have been stable lately ahead of the company's Q1 earnings release. The company has mixed record of earnings surprises in recent quarters. However, higher investments on IaaS will affect gross margin expansion in the near-term. Further, a strong U.S. dollar remains a headwind.”
Several other research analysts also recently commented on the company. Royal Bank Of Canada reiterated a buy rating and issued a $53.00 price objective on shares of Oracle Corporation in a report on Sunday. BidaskClub downgraded Oracle Corporation from a buy rating to a hold rating in a report on Wednesday, August 9th. Stifel Nicolaus reiterated a buy rating and issued a $52.00 price objective on shares of Oracle Corporation in a report on Tuesday, July 25th. Jefferies Group LLC reiterated a buy rating and issued a $60.00 price objective on shares of Oracle Corporation in a report on Tuesday, July 25th. Finally, KeyCorp restated a buy rating and set a $61.00 price target on shares of Oracle Corporation in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $50.81.
Oracle Corporation (NYSE:ORCL) opened at 49.24 on Monday. The company has a market cap of $203.69 billion, a PE ratio of 22.28 and a beta of 1.06. The company has a 50-day moving average price of $49.77 and a 200 day moving average price of $46.03. Oracle Corporation has a 12-month low of $37.62 and a 12-month high of $51.85.
Oracle Corporation (NYSE:ORCL) last released its quarterly earnings data on Wednesday, June 21st. The enterprise software provider reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.11. The firm had revenue of $10.94 billion for the quarter, compared to the consensus estimate of $10.45 billion. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, analysts forecast that Oracle Corporation will post $2.95 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Wednesday, July 19th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, July 17th. This represents a $0.76 annualized dividend and a dividend yield of 1.54%. Oracle Corporation’s dividend payout ratio (DPR) is 34.55%.
In other Oracle Corporation news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $44.57, for a total value of $167,137.50. Following the completion of the sale, the director now owns 18,125 shares in the company, valued at approximately $807,831.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Kurian sold 750,000 shares of the 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 completion of the sale, the insider now 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. Insiders sold a total of 1,817,500 shares of company stock valued at $91,560,925 over the last 90 days. 29.00% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of ORCL. Acrospire Investment Management LLC raised its stake in shares of Oracle Corporation by 947.4% in the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after buying an additional 1,800 shares during the last quarter. Burt Wealth Advisors raised its stake in shares of Oracle Corporation by 4.3% in the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after buying an additional 88 shares during the last quarter. Reilly Financial Advisors LLC raised its stake in shares of Oracle Corporation by 8.7% in the first quarter. Reilly Financial Advisors LLC now owns 2,503 shares of the enterprise software provider’s stock worth $112,000 after buying an additional 200 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Oracle Corporation by 1,150.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 2,300 shares during the period. Finally, TrimTabs Asset Management LLC increased its position in Oracle Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after buying an additional 1,264 shares during the period. Institutional investors and hedge funds own 58.67% of the company’s stock.
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.
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