Oracle (ORCL) Given a $55.00 Price Target by UBS Analysts
Oracle (NYSE:ORCL) received a $55.00 target price from equities researchers at UBS in a research note issued on Friday. The brokerage presently has a “neutral” rating on the enterprise software provider’s stock. UBS’s price target indicates a potential upside of 13.87% from the stock’s current price.
Several other research firms have also weighed in on ORCL. Credit Suisse Group initiated coverage on Oracle in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $62.00 target price on the stock. Zacks Investment Research lowered Oracle from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Vetr lowered Oracle from a “buy” rating to a “hold” rating and set a $46.58 target price on the stock. in a research note on Sunday, September 3rd. ValuEngine raised Oracle from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Drexel Hamilton reissued a “buy” rating and issued a $62.00 target price on shares of Oracle in a research note on Thursday, September 14th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Oracle has an average rating of “Buy” and an average target price of $55.32.
Oracle (NYSE ORCL) opened at $48.30 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.61 and a current ratio of 3.63. Oracle has a one year low of $38.30 and a one year high of $53.14. The stock has a market capitalization of $201,579.36, a price-to-earnings ratio of 18.44, a PEG ratio of 1.84 and a beta of 1.05.
Oracle announced that its board has authorized a stock buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other Oracle news, Director Jeffrey Berg sold 45,000 shares of Oracle stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $48.03, for a total value of $2,161,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director George H. Conrades sold 56,250 shares of Oracle stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $48.25, for a total value of $2,714,062.50. Following the completion of the transaction, the director now directly owns 66,250 shares of the company’s stock, valued at $3,196,562.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 302,026 shares of company stock valued at $14,633,187. 29.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of ORCL. Schwab Charles Investment Management Inc. grew its position in Oracle by 4.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 10,159,207 shares of the enterprise software provider’s stock worth $509,383,000 after acquiring an additional 450,836 shares during the last quarter. Partnervest Advisory Services LLC lifted its holdings in Oracle 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 buying an additional 39 shares during the period. Lockheed Martin Investment Management Co. lifted its holdings in Oracle 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 buying an additional 92,500 shares during the period. Pinnacle Financial Partners Inc. lifted its holdings in Oracle 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 buying an additional 9,328 shares during the period. Finally, LGT Capital Partners LTD. lifted its holdings in Oracle 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 buying an additional 76,653 shares during the period. Institutional investors own 57.70% of the company’s stock.
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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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