Oracle (NYSE:ORCL) had its price objective increased by investment analysts at Barclays from $56.00 to $60.00 in a report released on Monday. The firm presently has an “overweight” rating on the enterprise software provider’s stock. Barclays’ price target would indicate a potential upside of 13.42% from the stock’s previous close. The analysts noted that the move was a valuation call.
ORCL has been the topic of a number of other reports. Oppenheimer reaffirmed a “hold” rating on shares of Oracle in a report on Friday, December 15th. Zacks Investment Research cut shares of Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Vetr raised shares of Oracle from a “buy” rating to a “strong-buy” rating and set a $55.49 target price on the stock in a report on Monday, November 13th. Instinet began coverage on shares of Oracle in a report on Wednesday, January 24th. They issued a “buy” rating and a $51.12 target price on the stock. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 target price on shares of Oracle in a report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $55.76.
Shares of Oracle (ORCL) traded down $0.07 during trading hours on Monday, reaching $52.90. 14,085,984 shares of the company’s stock traded hands, compared to its average volume of 15,390,000. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. Oracle has a 52-week low of $42.35 and a 52-week high of $53.44. The company has a market cap of $218,980.00, a PE ratio of 22.70, a PEG ratio of 2.02 and a beta of 1.05.
Oracle announced that its board has initiated a stock buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In related news, EVP Dorian Daley sold 100,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the sale, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Kurian sold 1,700,000 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the sale, the insider now owns 1,522,983 shares in the company, valued at approximately $76,590,815.07. The disclosure for this sale can be found here. Insiders have sold a total of 1,956,250 shares of company stock worth $98,316,475 in the last quarter. 29.00% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Oracle by 2.6% in the 2nd 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. BlackRock Inc. raised its stake in shares of Oracle by 2.5% during the second quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock valued at $9,716,707,000 after acquiring an additional 4,678,977 shares during the last quarter. Harris Associates L P raised its stake in shares of 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 acquiring an additional 7,427,501 shares during the last quarter. Northern Trust Corp raised its stake in shares of Oracle by 4.6% during the second quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock valued at $2,110,799,000 after acquiring an additional 1,835,835 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Oracle by 5.8% during the second quarter. Franklin Resources Inc. now owns 40,206,990 shares of the enterprise software provider’s stock valued at $2,015,961,000 after acquiring an additional 2,193,120 shares during the last quarter. 58.03% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: “Oracle (ORCL) PT Raised to $60.00” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/03/12/oracle-orcl-pt-raised-to-60-00.html.
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.
Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.