Oracle Corporation’s (ORCL) Buy Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada reissued their buy rating on shares of Oracle Corporation (NYSE:ORCL) in a research report report published on Sunday. Royal Bank Of Canada currently has a $53.00 target price on the enterprise software provider’s stock.
A number of other equities analysts have also recently weighed in on the company. Bank of America Corporation cut their price target on Oracle Corporation from $62.00 to $54.00 and set a buy rating for the company in a report on Friday, June 30th. Zacks Investment Research raised Oracle Corporation from a hold rating to a buy rating and set a $51.00 price target for the company in a report on Tuesday, May 16th. Argus raised Oracle Corporation from a hold rating to a buy rating and set a $61.00 price target for the company in a report on Friday, June 23rd. Societe Generale cut Oracle Corporation from a buy rating to a hold rating and cut their price target for the stock from $51.00 to $50.00 in a report on Thursday, May 11th. Finally, KeyCorp raised Oracle Corporation from a sector weight rating to an overweight rating and set a $61.00 price target for the company in a report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-nine have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $50.81.
Oracle Corporation (NYSE:ORCL) opened at 49.80 on Friday. Oracle Corporation has a 12-month low of $37.62 and a 12-month high of $51.85. The stock has a market capitalization of $206.01 billion, a price-to-earnings ratio of 22.53 and a beta of 1.06. The company has a 50 day moving average of $49.77 and a 200-day moving average of $46.03.
Oracle Corporation (NYSE:ORCL) last issued its quarterly earnings data on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.11. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The firm had revenue of $10.94 billion during the quarter, compared to analysts’ expectations of $10.45 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. Oracle Corporation’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Oracle Corporation will post $2.95 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Wednesday, July 19th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Monday, July 17th. Oracle Corporation’s payout ratio is 34.55%.
In related news, Director Bruce R. Chizen sold 206,250 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $49.75, for a total value of $10,260,937.50. Following the completion of the transaction, the director now directly owns 63,985 shares of the company’s stock, valued at approximately $3,183,253.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Kurian sold 750,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 783,533 shares of the company’s stock, valued at $39,537,075.18. The disclosure for this sale can be found here. Insiders have sold a total of 1,817,500 shares of company stock worth $91,560,925 over the last quarter. Insiders own 29.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Oracle Corporation by 6,353.4% in the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock worth $831,551,000 after buying an additional 18,351,920 shares during the period. BT Investment Management Ltd purchased a new position in shares of Oracle Corporation during the second quarter worth about $459,738,000. Harris Associates L P raised its position in shares of Oracle Corporation by 17.9% in the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after buying an additional 7,427,501 shares during the last quarter. FMR LLC raised its position in shares of Oracle Corporation by 24.8% in the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock worth $1,658,750,000 after buying an additional 6,577,297 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Oracle Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after buying an additional 5,270,359 shares during the last quarter. 58.67% of the stock is owned by institutional investors and hedge funds.
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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