Oracle (ORCL) Stock Rating Reaffirmed by Oppenheimer
Oracle (NYSE:ORCL)‘s stock had its “hold” rating restated by equities researchers at Oppenheimer in a research report issued to clients and investors on Friday.
Several other equities analysts have also recently weighed in on the company. UBS set a $55.00 target price on Oracle and gave the company a “neutral” rating in a research note on Friday. Jefferies Group set a $61.00 target price on Oracle and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada cut Oracle from an “outperform” rating to a “sector perform” rating in a research note on Friday. BMO Capital Markets lowered their target price on Oracle from $57.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Canaccord Genuity reduced their price target on Oracle from $57.00 to $53.00 and set a “buy” rating for the company in a report on Friday. Fourteen analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. Oracle presently has a consensus rating of “Buy” and an average target price of $55.02.
Shares of Oracle (ORCL) traded up $0.14 on Friday, reaching $50.19. The company had a trading volume of 22,259,200 shares, compared to its average volume of 13,348,773. The stock has a market cap of $208,882.97, a PE ratio of 19.63, a P/E/G 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. 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 declared that its board has authorized a stock repurchase plan on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other Oracle news, Director George H. Conrades sold 56,250 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $48.25, for a total value of $2,714,062.50. Following the completion of the sale, the director now directly owns 66,250 shares in the company, valued at $3,196,562.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dorian Daley sold 25,776 shares of the stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $48.05, for a total value of $1,238,536.80. Following the transaction, the executive vice president now owns 30,977 shares of the company’s stock, valued at $1,488,444.85. The disclosure for this sale can be found here. Insiders sold 302,026 shares of company stock valued at $14,633,187 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its position in Oracle by 6,353.4% during the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after purchasing an additional 18,351,920 shares during the last quarter. BT Investment Management Ltd acquired a new position in Oracle during the second quarter valued at approximately $459,738,000. Harris Associates L P boosted its position in Oracle by 17.9% during the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after purchasing an additional 7,427,501 shares during the last quarter. FMR LLC boosted its position in Oracle by 24.8% during the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after purchasing an additional 6,577,297 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Oracle by 2.6% during the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after purchasing an additional 5,270,359 shares during the last quarter. Institutional investors and hedge funds own 57.70% 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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