Oracle Corporation (ORCL) Now Covered by Analysts at Canaccord Genuity
Canaccord Genuity initiated coverage on shares of Oracle Corporation (NYSE:ORCL) in a research report report published on Friday. The brokerage issued a buy rating and a $57.00 target price on the enterprise software provider’s stock.
Several other analysts have also recently issued reports on ORCL. OTR Global upgraded Oracle Corporation to a positive rating in a report on Thursday, June 8th. Goldman Sachs Group, Inc. (The) set a $49.00 target price on Oracle Corporation and gave the company a buy rating in a report on Monday, June 12th. Wedbush dropped their target price on Oracle Corporation from $44.00 to $43.00 and set a neutral rating for the company in a report on Tuesday, June 13th. Sanford C. Bernstein restated an outperform rating and issued a $54.00 target price on shares of Oracle Corporation in a report on Tuesday, June 13th. Finally, BidaskClub cut Oracle Corporation from a buy rating to a hold rating in a report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty-one have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $53.37.
Oracle Corporation (NYSE:ORCL) traded down 1.04% on Friday, hitting $48.40. 16,340,405 shares of the company were exchanged. The stock has a market capitalization of $201.98 billion, a P/E ratio of 21.05 and a beta of 1.05. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $53.14. The stock’s 50-day moving average price is $49.52 and its 200-day moving average price is $47.52.
Oracle Corporation (NYSE:ORCL) last issued its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $9.03 billion. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 EPS. On average, equities research analysts anticipate that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, October 10th. Oracle Corporation’s dividend payout ratio (DPR) is presently 33.19%.
In other news, Director George H. Conrades sold 11,250 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $48.10, for a total transaction of $541,125.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $481,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $50.30, for a total value of $188,625.00. Following the sale, the director now directly owns 18,125 shares in the company, valued at approximately $911,687.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,055,776 shares of company stock worth $52,673,112 in the last three months. Corporate insiders own 29.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ORCL. Waldron LP grew its stake in Oracle Corporation by 344.1% during the 1st quarter. Waldron LP now owns 34,947 shares of the enterprise software provider’s stock worth $1,558,000 after buying an additional 27,077 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in Oracle Corporation during the 1st quarter worth approximately $1,607,000. Chickasaw Capital Management LLC grew its stake in Oracle Corporation by 8.0% during the 1st quarter. Chickasaw Capital Management LLC now owns 43,703 shares of the enterprise software provider’s stock worth $1,950,000 after buying an additional 3,225 shares during the last quarter. Mycio Wealth Partners LLC grew its stake in Oracle Corporation by 17.2% during the 1st quarter. Mycio Wealth Partners LLC now owns 12,403 shares of the enterprise software provider’s stock worth $553,000 after buying an additional 1,823 shares during the last quarter. Finally, Dubuque Bank & Trust Co. grew its stake in Oracle Corporation by 3.2% during the 1st quarter. Dubuque Bank & Trust Co. now owns 156,884 shares of the enterprise software provider’s stock worth $6,999,000 after buying an additional 4,839 shares during the last quarter. 58.66% of the stock is currently owned by institutional investors and hedge funds.
Oracle Corporation 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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