Oracle (NYSE:ORCL) has been given a $51.00 price target by Royal Bank of Canada in a note issued to investors on Monday. The brokerage presently has a “neutral” rating on the enterprise software provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 0.83% from the stock’s previous close.
ORCL has been the subject of a number of other reports. UBS Group set a $55.00 price objective on Oracle and gave the stock a “neutral” rating in a report on Friday, December 15th. Vetr raised Oracle from a “hold” rating to a “strong-buy” rating and set a $60.60 price objective for the company in a report on Thursday, November 2nd. BidaskClub raised Oracle from a “buy” rating to a “strong-buy” rating in a report on Friday, October 27th. Oppenheimer reaffirmed a “hold” rating on shares of Oracle in a research note on Friday, December 15th. Finally, Goldman Sachs Group set a $56.00 price target on Oracle and gave the company a “buy” rating in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Oracle presently has an average rating of “Buy” and an average price target of $55.27.
Oracle (ORCL) opened at $50.58 on Monday. Oracle has a fifty-two week low of $39.43 and a fifty-two week high of $53.14. The stock has a market capitalization of $211,090.00, a P/E ratio of 21.71, a P/E/G ratio of 1.93 and a beta of 1.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04.
Oracle announced that its board has initiated a share buyback plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $48.40, for a total value of $181,500.00. Following the completion of the sale, the director now owns 18,125 shares in the company, valued at $877,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Kurian sold 1,700,000 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $50.29, for a total value of $85,493,000.00. Following the completion of the sale, the insider now owns 1,522,983 shares of the company’s stock, valued at approximately $76,590,815.07. The disclosure for this sale can be found here. Insiders sold 1,811,250 shares of company stock valued at $90,803,063 in the last 90 days. Corporate insiders own 29.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ORCL. Hudock Capital Group LLC increased its position in Oracle by 0.3% during the first quarter. Hudock Capital Group LLC now owns 3,997 shares of the enterprise software provider’s stock worth $178,000 after buying an additional 10 shares during the last quarter. Keel Point LLC increased its position in Oracle by 0.3% during the second quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock worth $268,000 after buying an additional 14 shares during the last quarter. Alpha Windward LLC increased its position in Oracle by 0.3% during the second quarter. Alpha Windward LLC now owns 5,568 shares of the enterprise software provider’s stock worth $279,000 after buying an additional 19 shares during the last quarter. Joel Isaacson & Co. LLC increased its position in Oracle by 0.3% during the second quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock worth $411,000 after buying an additional 24 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC increased its position in Oracle by 0.6% during the third quarter. Kernodle & Katon Asset Management Group LLC now owns 4,226 shares of the enterprise software provider’s stock worth $166,000 after buying an additional 25 shares during the last quarter. Institutional investors own 57.98% 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.
