Oracle (NYSE:ORCL) Receives Market Perform Rating from BMO Capital Markets
BMO Capital Markets reiterated their market perform rating on shares of Oracle (NYSE:ORCL) in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. They currently have a $60.00 price objective on the enterprise software provider’s stock, up from their previous price objective of $59.00.
Several other analysts also recently weighed in on ORCL. Wedbush reaffirmed a neutral rating and issued a $55.00 target price (down previously from $55.92) on shares of Oracle in a report on Thursday, June 20th. KeyCorp reissued a hold rating on shares of Oracle in a report on Thursday, June 20th. Macquarie downgraded shares of Oracle from an outperform rating to a neutral rating and decreased their price objective for the stock from $56.00 to $55.00 in a report on Tuesday, June 18th. They noted that the move was a valuation call. Raymond James boosted their price objective on shares of Oracle from $57.00 to $61.00 and gave the stock an outperform rating in a report on Thursday, June 20th. Finally, Monness Crespi & Hardt reissued a hold rating on shares of Oracle in a report on Tuesday. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $55.88.
Shares of NYSE:ORCL traded down $0.14 during midday trading on Thursday, hitting $53.75. The stock had a trading volume of 14,566,066 shares, compared to its average volume of 9,948,703. The company has a market capitalization of $185.04 billion, a PE ratio of 17.01, a P/E/G ratio of 1.62 and a beta of 1.18. The stock has a 50 day moving average price of $54.15 and a two-hundred day moving average price of $54.46. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 2.31. Oracle has a 1 year low of $42.40 and a 1 year high of $60.50.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Wednesday, October 9th. Oracle’s dividend payout ratio (DPR) is presently 30.38%.
In other Oracle news, CEO Mark V. Hurd sold 787,500 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $56.29, for a total value of $44,328,375.00. Following the sale, the chief executive officer now owns 874,871 shares of the company’s stock, valued at $49,246,488.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $56.92, for a total transaction of $5,692,000.00. Following the completion of the sale, the executive vice president now directly owns 177,919 shares in the company, valued at approximately $10,127,149.48. The disclosure for this sale can be found here. Insiders sold 2,140,000 shares of company stock worth $117,501,425 in the last ninety days. Insiders own 32.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Associated Banc Corp raised its position in shares of Oracle by 8.7% in the second quarter. Associated Banc Corp now owns 18,697 shares of the enterprise software provider’s stock valued at $1,065,000 after buying an additional 1,502 shares during the last quarter. Meridian Financial Partners LLC raised its position in shares of Oracle by 2.2% in the first quarter. Meridian Financial Partners LLC now owns 10,181 shares of the enterprise software provider’s stock valued at $555,000 after buying an additional 224 shares during the last quarter. B. Riley Wealth Management Inc. raised its position in shares of Oracle by 9.7% in the first quarter. B. Riley Wealth Management Inc. now owns 6,537 shares of the enterprise software provider’s stock valued at $351,000 after buying an additional 578 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Oracle by 7.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,099,788 shares of the enterprise software provider’s stock valued at $59,070,000 after buying an additional 77,283 shares during the last quarter. Finally, BSW Wealth Partners acquired a new position in shares of Oracle in the second quarter valued at approximately $297,000. 53.05% of the stock is currently owned by institutional investors.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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