Oracle Corporation (ORCL) Rating Lowered to Buy at Vetr Inc.
Vetr lowered shares of Oracle Corporation (NYSE:ORCL) from a strong-buy rating to a buy rating in a research note released on Monday. Vetr currently has $51.82 price objective on the enterprise software provider’s stock.
A number of other brokerages have also weighed in on ORCL. Rosenblatt Securities restated a buy rating and issued a $58.00 target price on shares of Oracle Corporation in a research report on Monday, September 11th. Canaccord Genuity started coverage on shares of Oracle Corporation in a research note on Friday, October 6th. They set a buy rating and a $57.00 price target for the company. BTIG Research reaffirmed a buy rating and set a $58.00 price target on shares of Oracle Corporation in a research note on Tuesday, September 19th. Moffett Nathanson started coverage on shares of Oracle Corporation in a research note on Wednesday, September 6th. They set a buy rating and a $65.00 price target for the company. Finally, BidaskClub raised shares of Oracle Corporation from a hold rating to a buy rating in a research note on Wednesday, October 18th. Eleven equities research analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company’s stock. Oracle Corporation currently has a consensus rating of Buy and an average target price of $54.85.
Shares of Oracle Corporation (NYSE:ORCL) opened at $48.84 on Monday. The company has a current ratio of 3.63, a quick ratio of 3.61 and a debt-to-equity ratio of 0.86. The stock has a market cap of $202,747.95, a P/E ratio of 19.05, a P/E/G ratio of 1.85 and a beta of 1.07. Oracle Corporation has a 52-week low of $37.64 and a 52-week high of $53.14.
Oracle Corporation (NYSE:ORCL) last posted its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The business had revenue of $9.21 billion for the quarter, compared to analyst estimates of $9.03 billion. During the same quarter last year, the business posted $0.55 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. analysts forecast that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, October 10th. Oracle Corporation’s dividend payout ratio (DPR) is presently 33.19%.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total transaction of $183,112.50. Following the transaction, the director now directly owns 18,125 shares in the company, valued at $885,043.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George H. Conrades sold 56,250 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $48.25, for a total transaction of $2,714,062.50. Following the transaction, the director now owns 66,250 shares in the company, valued at $3,196,562.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 305,776 shares of company stock worth $14,821,999. 29.00% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its position in shares of Oracle Corporation by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 10,159,207 shares of the enterprise software provider’s stock valued at $509,383,000 after purchasing an additional 450,836 shares during the period. Partnervest Advisory Services LLC increased its holdings in Oracle Corporation by 0.6% during the 2nd quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock worth $337,000 after acquiring an additional 39 shares during the period. Lockheed Martin Investment Management Co. increased its holdings in Oracle Corporation by 125.6% during the 2nd quarter. Lockheed Martin Investment Management Co. now owns 166,160 shares of the enterprise software provider’s stock worth $8,331,000 after acquiring an additional 92,500 shares during the period. Pinnacle Financial Partners Inc. increased its holdings in Oracle Corporation by 8.9% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 113,707 shares of the enterprise software provider’s stock worth $5,701,000 after acquiring an additional 9,328 shares during the period. Finally, LGT Capital Partners LTD. increased its holdings in Oracle Corporation by 14.0% during the 2nd quarter. LGT Capital Partners LTD. now owns 623,463 shares of the enterprise software provider’s stock worth $31,260,000 after acquiring an additional 76,653 shares during the period. 58.09% 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.
To view Vetr’s full report, visit Vetr’s official website.
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