Canaccord Genuity Reiterates Buy Rating for Oracle Co. (ORCL)
Oracle Co. (NYSE:ORCL)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a research note issued to investors on Friday. They currently have a $49.00 price objective on the enterprise software provider’s stock. Canaccord Genuity’s price target suggests a potential upside of 8.41% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. Wedbush reiterated a “neutral” rating and issued a $43.00 target price on shares of Oracle in a report on Thursday, April 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Oracle in a report on Friday, May 19th. Barclays PLC lifted their target price on Oracle from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, March 16th. Rosenblatt Securities lifted their target price on Oracle from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, April 4th. Finally, Vetr upgraded Oracle from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $46.42.
Shares of Oracle (NYSE:ORCL) opened at 45.20 on Friday. The firm has a 50-day moving average price of $44.75 and a 200 day moving average price of $41.93. Oracle has a 12 month low of $37.62 and a 12 month high of $46.99. The company has a market cap of $185.98 billion, a P/E ratio of 21.38 and a beta of 1.14.
Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, March 15th. The enterprise software provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.07. The firm had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Oracle had a return on equity of 21.33% and a net margin of 23.69%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Equities analysts predict that Oracle will post $2.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 26th. Investors of record on Wednesday, April 12th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.68%. This is a positive change from Oracle’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, April 10th. Oracle’s dividend payout ratio is presently 28.99%.
In related news, CEO Safra Catz sold 3,000,000 shares of the stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $44.99, for a total value of $134,970,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,461,860 shares in the company, valued at $155,749,081.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark V. Hurd sold 700,000 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $46.44, for a total value of $32,508,000.00. Following the completion of the transaction, the chief executive officer now owns 903,891 shares of the company’s stock, valued at $41,976,698.04. The disclosure for this sale can be found here. Insiders sold 6,834,841 shares of company stock valued at $309,094,949 over the last quarter. 29.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ORCL. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Oracle by 1,150.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 2,300 shares during the last quarter. Reilly Financial Advisors LLC raised its position in shares of Oracle by 8.7% in the first quarter. Reilly Financial Advisors LLC now owns 2,503 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 200 shares during the last quarter. Gradient Investments LLC raised its position in shares of Oracle by 79.9% in the first quarter. Gradient Investments LLC now owns 2,548 shares of the enterprise software provider’s stock valued at $114,000 after buying an additional 1,132 shares during the last quarter. TrimTabs Asset Management LLC raised its position in shares of Oracle by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after buying an additional 1,264 shares during the last quarter. Finally, Heritage Trust Co acquired a new position in shares of Oracle during the first quarter valued at $130,000. Institutional investors own 57.95% of the company’s stock.
Oracle 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.
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