Oracle (NYSE:ORCL) has been given a $61.00 target price by Jefferies Group in a note issued to investors on Friday. The firm currently has a “buy” rating on the enterprise software provider’s stock. Jefferies Group’s target price would indicate a potential upside of 26.29% from the stock’s current price.
A number of other research analysts also recently issued reports on ORCL. UBS set a $55.00 price objective on Oracle and gave the company a “neutral” rating in a research note on Friday. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 price target on shares of Oracle in a research report on Tuesday. Royal Bank of Canada upped their price target on Oracle to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, December 6th. Zacks Investment Research cut Oracle from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Finally, Vetr cut Oracle from a “buy” rating to a “hold” rating and set a $52.33 price target on the stock. in a research report on Monday. Fourteen equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $55.02.
Shares of Oracle (NYSE:ORCL) traded down $1.89 during trading hours on Friday, reaching $48.30. The company’s stock had a trading volume of 75,169,695 shares, compared to its average volume of 13,604,231. The company has a market cap of $201,580.00, a P/E ratio of 19.63, a PEG ratio of 1.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.63 and a quick ratio of 3.61. Oracle has a 52-week low of $38.30 and a 52-week high of $53.14.
Oracle declared that its board has initiated a stock repurchase program on Thursday, December 14th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Jeffrey Berg sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $48.03, for a total transaction of $2,161,350.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total value of $183,112.50. Following the transaction, the director now owns 18,125 shares in the company, valued at $885,043.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 302,026 shares of company stock worth $14,633,187. 29.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ORCL. Schwab Charles Investment Management Inc. grew its position in shares of Oracle by 4.6% in 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 buying an additional 450,836 shares during the last quarter. Partnervest Advisory Services LLC grew its position in shares of Oracle by 0.6% in 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 last quarter. Lockheed Martin Investment Management Co. grew its position in shares of Oracle by 125.6% in 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 last quarter. Pinnacle Financial Partners Inc. grew its position in shares of Oracle by 8.9% in 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 last quarter. Finally, LGT Capital Partners LTD. grew its position in shares of Oracle by 14.0% in 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 last quarter. Institutional investors and hedge funds own 57.70% of the company’s stock.
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.
