Oracle (NYSE:ORCL) received a $53.00 target price from equities research analysts at Royal Bank of Canada in a research note issued to investors on Tuesday, December 12th. The brokerage presently has a “buy” rating on the enterprise software provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 11.91% from the company’s previous close.
Several other research firms have also recently weighed in on ORCL. Vetr cut shares of Oracle from a “sell” rating to a “strong sell” rating and set a $46.58 price objective on the stock. in a research report on Tuesday, September 12th. Rosenblatt Securities restated a “buy” rating and set a $58.00 price target on shares of Oracle in a report on Monday, September 11th. Canaccord Genuity started coverage on shares of Oracle in a report on Friday, October 6th. They set a “buy” rating and a $57.00 price target on the stock. BTIG Research restated a “buy” rating and set a $58.00 price target on shares of Oracle in a report on Tuesday, September 19th. Finally, Moffett Nathanson started coverage on shares of Oracle in a report on Wednesday, September 6th. They set a “buy” rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $55.26.
Oracle (NYSE ORCL) traded up $0.08 during midday trading on Tuesday, reaching $47.36. 11,197,300 shares of the company’s stock traded hands, compared to its average volume of 13,712,970. Oracle has a 12-month low of $38.30 and a 12-month high of $53.14. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07. The stock has a market cap 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 declared that its board has authorized a share buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Oracle news, EVP Dorian Daley sold 23,297 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.00, for a total transaction of $1,141,553.00. Following the completion of the transaction, the executive vice president now owns 54,274 shares of the company’s stock, valued at approximately $2,659,426. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George H. Conrades sold 11,250 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $481,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 278,750 shares of company stock valued at $13,459,738. Company insiders own 29.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Atlantic Trust Group LLC increased its stake in Oracle by 1.2% in the third quarter. Atlantic Trust Group LLC now owns 3,856,504 shares of the enterprise software provider’s stock valued at $186,463,000 after acquiring an additional 46,950 shares during the period. AustralianSuper Pty Ltd increased its stake in Oracle by 49.1% in the third quarter. AustralianSuper Pty Ltd now owns 812,800 shares of the enterprise software provider’s stock valued at $39,299,000 after acquiring an additional 267,800 shares during the period. Parametric Portfolio Associates LLC increased its stake in Oracle by 9.2% in the third quarter. Parametric Portfolio Associates LLC now owns 9,891,713 shares of the enterprise software provider’s stock valued at $478,264,000 after acquiring an additional 831,547 shares during the period. Vista Private Wealth Partners. LLC bought a new stake in Oracle in the third quarter valued at about $690,000. Finally, AXA increased its stake in Oracle by 44.2% in the third quarter. AXA now owns 2,783,375 shares of the enterprise software provider’s stock valued at $134,577,000 after acquiring an additional 853,718 shares during the period. 57.40% of the stock is owned by hedge funds and other institutional investors.
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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.
