Oracle (NYSE:ORCL) received a $51.00 price objective from investment analysts at Royal Bank of Canada in a research note issued on Monday. The firm currently has a “neutral” rating on the enterprise software provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 7.69% from the stock’s previous close.
Several other research analysts also recently commented on the company. Credit Suisse Group initiated coverage on Oracle in a research note on Tuesday, September 5th. They set an “outperform” rating and a $62.00 target price for the company. Zacks Investment Research downgraded Oracle from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Vetr downgraded Oracle from a “buy” rating to a “hold” rating and set a $46.58 target price for the company. in a research note on Sunday, September 3rd. ValuEngine raised Oracle from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, UBS Group reissued a “neutral” rating and set a $55.00 target price (down previously from $57.00) on shares of Oracle in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $55.26.
Oracle (ORCL) traded up $0.08 on Monday, reaching $47.36. 11,132,353 shares of the company traded hands, compared to its average volume of 19,621,706. 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 1.03, a current ratio of 5.07 and a quick ratio of 5.04. The company has a market capitalization of $195,720.38, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05.
Oracle announced that its board has authorized a share repurchase plan on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other Oracle news, Director George H. Conrades sold 11,250 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $48.10, for a total transaction of $541,125.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $481,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dorian Daley sold 100,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the transaction, the executive vice president now owns 136,954 shares in the company, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders have sold a total of 278,750 shares of company stock valued at $13,459,738 in the last three months. Insiders own 29.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of ORCL. Schwab Charles Investment Management Inc. increased its holdings in 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 acquiring an additional 450,836 shares during the last quarter. Partnervest Advisory Services LLC increased its holdings in 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 acquiring an additional 39 shares during the last quarter. Lockheed Martin Investment Management Co. increased its holdings in 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 acquiring an additional 92,500 shares during the last quarter. Pinnacle Financial Partners Inc. increased its holdings in 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 acquiring an additional 9,328 shares during the last quarter. Finally, LGT Capital Partners LTD. increased its holdings in 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 acquiring an additional 76,653 shares during the last quarter. Hedge funds and other institutional investors own 57.40% 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.
