Oracle (NYSE:ORCL) has been assigned a $58.00 target price by research analysts at Goldman Sachs Group in a report issued on Friday. The brokerage currently has a “buy” rating on the enterprise software provider’s stock. Goldman Sachs Group’s price objective would indicate a potential upside of 20.63% from the stock’s current price.
ORCL has been the topic of several other reports. Jefferies Group raised their price objective on shares of Oracle from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, September 15th. Credit Suisse Group assumed coverage on shares of Oracle in a research report on Tuesday, September 5th. They set an “outperform” rating and a $62.00 price objective on the stock. Vetr raised shares of Oracle from a “buy” rating to a “strong-buy” rating and set a $55.49 price objective on the stock in a research report on Monday, November 13th. Zacks Investment Research downgraded shares of Oracle from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Finally, BidaskClub raised shares of Oracle from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Fourteen analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $55.02.
Oracle (NYSE ORCL) traded down $2.11 during midday trading on Friday, hitting $48.08. 36,619,326 shares of the company were exchanged, compared to its average volume of 13,348,773. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.63 and a quick ratio of 3.61. The stock has a market cap of $208,882.97, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. Oracle has a 1 year low of $38.30 and a 1 year high of $53.14.
Oracle declared that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Jeffrey Berg sold 45,000 shares of Oracle stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $48.03, for a total transaction of $2,161,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total transaction of $183,112.50. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at $885,043.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,026 shares of company stock valued at $14,633,187. 29.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its stake in Oracle by 4.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 10,159,207 shares of the enterprise software provider’s stock worth $509,383,000 after buying an additional 450,836 shares during the period. Partnervest Advisory Services LLC grew its stake in Oracle by 0.6% during the second 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. grew its stake in Oracle by 125.6% during the second 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. grew its stake in Oracle by 8.9% during the second 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. grew its stake in Oracle by 14.0% during the second 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. Hedge funds and other institutional investors own 57.70% of the company’s stock.
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About Oracle
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.
