Oracle Corporation (NYSE:ORCL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Oracle's first-quarter fiscal 2018 results were impressive. The company is benefiting from significant momentum in the SaaS offerings. The company stated that it is wining market share against salesforce.com and Workday. We believe the company’s growing cloud market share will continue to drive top-line growth in the foreseeable future. Moreover, the upcoming launch of the next-generation autonomous database, which is supported by machine learning, is a key catalyst. The stock has outperformed the industry on a year-to-date basis driven by these factors. However, soft outlook for the second quarter reflects slowing cloud momentum, particualrly due to increasing competition from Microsoft Azure and Amazon Web Services. Moreover, higher investments on PaaS and IaaS will keep margins under pressure in the near term.”

ORCL has been the subject of several other research reports. Vetr cut Oracle Corporation from a “buy” rating to a “hold” rating and set a $46.58 price target for the company. in a research note on Sunday, September 3rd. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price target on shares of Oracle Corporation in a research note on Tuesday, July 25th. Royal Bank Of Canada restated a “buy” rating and issued a $53.00 price target on shares of Oracle Corporation in a research note on Sunday, August 27th. BidaskClub upgraded Oracle Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, ValuEngine upgraded Oracle Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $53.50.

Shares of Oracle Corporation (NYSE ORCL) traded up 1.05% during midday trading on Tuesday, reaching $51.21. The company had a trading volume of 7,792,816 shares. The company has a market capitalization of $213.70 billion, a P/E ratio of 22.27 and a beta of 1.05. Oracle Corporation has a one year low of $37.64 and a one year high of $53.14. The company has a 50-day moving average price of $49.25 and a 200 day moving average price of $48.11.

Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $9.03 billion. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 earnings per share. Equities analysts anticipate that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.

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In other news, EVP Dorian Daley sold 76,703 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $49.00, for a total transaction of $3,758,447.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $50.35, for a total value of $188,812.50. Following the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $912,593.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 305,776 shares of company stock worth $14,822,112. Insiders own 29.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Waldron LP grew its stake in Oracle Corporation by 344.1% in the first quarter. Waldron LP now owns 34,947 shares of the enterprise software provider’s stock worth $1,558,000 after purchasing an additional 27,077 shares in the last quarter. Ariel Capital Advisors LLC bought a new position in Oracle Corporation in the first quarter worth approximately $222,000. Jennison Associates LLC grew its stake in Oracle Corporation by 1,332.8% in the first quarter. Jennison Associates LLC now owns 704,813 shares of the enterprise software provider’s stock worth $31,442,000 after purchasing an additional 655,623 shares in the last quarter. Tocqueville Asset Management L.P. grew its stake in Oracle Corporation by 2.1% in the first quarter. Tocqueville Asset Management L.P. now owns 556,960 shares of the enterprise software provider’s stock worth $24,846,000 after purchasing an additional 11,569 shares in the last quarter. Finally, Quadrant Capital Management LLC grew its stake in Oracle Corporation by 0.7% in the first quarter. Quadrant Capital Management LLC now owns 56,695 shares of the enterprise software provider’s stock worth $2,529,000 after purchasing an additional 400 shares in the last quarter. 57.95% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Corporation 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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