Westpark Capital Raises Oracle (NYSE:ORCL) Price Target to $246.00

Oracle (NYSE:ORCL) had its price target lifted by Westpark Capital from $195.00 to $246.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the enterprise software provider’s stock.

A number of other brokerages also recently issued reports on ORCL. KeyCorp reiterated an “overweight” rating and set a $200.00 price objective on shares of Oracle in a research note on Tuesday, March 11th. Citigroup lifted their target price on shares of Oracle from $160.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday. Stephens initiated coverage on shares of Oracle in a report on Wednesday, March 19th. They set an “equal weight” rating and a $167.00 price target for the company. Cantor Fitzgerald lowered their price target on shares of Oracle from $214.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Finally, Guggenheim reiterated a “buy” rating and issued a $220.00 price objective on shares of Oracle in a research note on Thursday, June 5th. Twelve equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Oracle has an average rating of “Moderate Buy” and a consensus target price of $192.30.

Oracle Price Performance

NYSE:ORCL opened at $199.67 on Thursday. Oracle has a 52 week low of $118.86 and a 52 week high of $202.49. The firm has a market cap of $558.47 billion, a price-to-earnings ratio of 48.82, a P/E/G ratio of 3.46 and a beta of 1.32. The firm’s 50-day simple moving average is $151.06 and its 200 day simple moving average is $160.44. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. Oracle’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm earned $1.63 earnings per share. As a group, sell-side analysts predict that Oracle will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Thursday, July 10th. Oracle’s dividend payout ratio (DPR) is presently 46.95%.

Insider Activity

In related news, Director Naomi O. Seligman sold 2,866 shares of Oracle stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the completion of the sale, the director now directly owns 31,764 shares in the company, valued at approximately $4,749,670.92. This trade represents a 8.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leon E. Panetta sold 17,500 shares of Oracle stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the completion of the sale, the director now owns 58,090 shares of the company’s stock, valued at $8,785,531.60. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,366 shares of company stock valued at $4,015,723. 42.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oracle

Several large investors have recently bought and sold shares of ORCL. Redmont Wealth Advisors LLC purchased a new position in Oracle in the first quarter worth about $27,000. Inlight Wealth Management LLC purchased a new position in Oracle in the 1st quarter worth approximately $28,000. Iron Horse Wealth Management LLC lifted its holdings in Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after purchasing an additional 151 shares in the last quarter. Sunbeam Capital Management LLC bought a new stake in Oracle in the 4th quarter worth approximately $30,000. Finally, Hurley Capital LLC bought a new stake in Oracle in the 4th quarter worth approximately $33,000. 42.44% of the stock is currently owned by institutional investors.

About Oracle

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.