Oracle Corp. (ORCL) Rating Reiterated by Bank of America Corp.
Oracle Corp. (NYSE:ORCL)‘s stock had its “buy” rating reiterated by research analysts at Bank of America Corp. in a report released on Thursday. They currently have a $48.00 target price on the enterprise software provider’s stock. Bank of America Corp.’s price objective points to a potential upside of 21.49% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on ORCL. Evercore ISI upgraded shares of Oracle Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 1st. JMP Securities reiterated a “sell” rating and issued a $31.00 price target on shares of Oracle Corp. in a research report on Thursday, June 2nd. OTR Global upgraded shares of Oracle Corp. to a “positive” rating in a research report on Friday, June 3rd. Zacks Investment Research upgraded shares of Oracle Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 3rd. Finally, JPMorgan Chase & Co. reiterated an “underperform” rating on shares of Oracle Corp. in a research report on Monday, June 6th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $44.88.
Oracle Corp. (NYSE:ORCL) traded up 0.35% during midday trading on Thursday, hitting $39.65. 5,209,891 shares of the company’s stock traded hands. The company has a market capitalization of $163.32 billion, a PE ratio of 18.84 and a beta of 1.08. Oracle Corp. has a 52 week low of $33.13 and a 52 week high of $42.00. The company has a 50 day moving average of $40.83 and a 200-day moving average of $40.35.
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Oracle Corp. (NYSE:ORCL) last issued its quarterly earnings data on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.03. Oracle Corp. had a net margin of 24.16% and a return on equity of 22.10%. The company had revenue of $8.60 billion for the quarter. During the same quarter in the prior year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that Oracle Corp. will post $2.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, October 7th. Oracle Corp.’s dividend payout ratio is currently 28.57%.
In related news, EVP John F. Fowler sold 500,000 shares of Oracle Corp. stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $41.17, for a total value of $20,585,000.00. Following the sale, the executive vice president now owns 119,645 shares of the company’s stock, valued at approximately $4,925,784.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corp. stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $40.16, for a total value of $150,600.00. Following the completion of the sale, the director now directly owns 8,281 shares in the company, valued at approximately $332,564.96. The disclosure for this sale can be found here. Insiders own 28.00% of the company’s stock.
A number of large investors have recently made changes to their positions in ORCL. Check Capital Management Inc. CA raised its stake in shares of Oracle Corp. by 1.8% in the second quarter. Check Capital Management Inc. CA now owns 714,129 shares of the enterprise software provider’s stock worth $29,229,000 after buying an additional 12,676 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of Oracle Corp. by 8.1% in the second quarter. DAVENPORT & Co LLC now owns 852,620 shares of the enterprise software provider’s stock worth $34,898,000 after buying an additional 64,091 shares in the last quarter. National Pension Service raised its stake in shares of Oracle Corp. by 4.2% in the first quarter. National Pension Service now owns 1,765,267 shares of the enterprise software provider’s stock worth $72,217,000 after buying an additional 71,804 shares in the last quarter. AXA raised its stake in shares of Oracle Corp. by 0.3% in the first quarter. AXA now owns 1,814,706 shares of the enterprise software provider’s stock worth $74,240,000 after buying an additional 4,952 shares in the last quarter. Finally, Factory Mutual Insurance Co. raised its stake in shares of Oracle Corp. by 22.3% in the first quarter. Factory Mutual Insurance Co. now owns 2,150,920 shares of the enterprise software provider’s stock worth $87,994,000 after buying an additional 392,000 shares in the last quarter. 58.00% of the stock is currently owned by institutional investors and hedge funds.
About Oracle Corp.
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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