Oracle (NYSE:ORCL) Price Target Cut to $57.00

Oracle (NYSE:ORCL) had its price target cut by Barclays from $59.00 to $57.00 in a report published on Thursday, BenzingaRatingsTable reports. They currently have an equal weight rating on the enterprise software provider’s stock.

ORCL has been the subject of several other research reports. Wells Fargo & Co upped their target price on shares of Oracle from $60.00 to $65.00 and gave the company an outperform rating in a report on Thursday, June 20th. UBS Group restated a neutral rating and issued a $54.00 target price on shares of Oracle in a report on Friday, June 14th. Goldman Sachs Group restated a buy rating and issued a $58.00 target price on shares of Oracle in a report on Thursday, June 20th. KeyCorp restated a hold rating on shares of Oracle in a report on Thursday, June 20th. Finally, Credit Suisse Group set a $62.00 target price on shares of Oracle and gave the company a buy rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have assigned a buy rating to the stock. Oracle has an average rating of Hold and an average price target of $55.88.

NYSE ORCL opened at $53.75 on Thursday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 2.31. Oracle has a 52 week low of $42.40 and a 52 week high of $60.50. The stock has a market capitalization of $179.77 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18. The firm has a 50 day moving average of $54.06 and a two-hundred day moving average of $54.46.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 45.61%. The company had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the business posted $0.71 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Oracle will post 3.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a yield of 1.79%. Oracle’s payout ratio is currently 30.38%.

In other Oracle news, CAO W Corey West sold 50,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $56.25, for a total transaction of $2,812,500.00. Following the completion of the transaction, the chief accounting officer now owns 85,348 shares in the company, valued at approximately $4,800,825. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Naomi O. Seligman sold 90,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $59.52, for a total transaction of $5,356,800.00. Following the transaction, the director now owns 82,310 shares of the company’s stock, valued at approximately $4,899,091.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,140,000 shares of company stock valued at $117,501,425. 32.00% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. Longview Partners Guernsey LTD grew its stake in shares of Oracle by 16.9% during the 2nd quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock worth $1,267,227,000 after purchasing an additional 3,220,296 shares during the period. Clearbridge Investments LLC grew its stake in shares of Oracle by 1.7% during the 1st quarter. Clearbridge Investments LLC now owns 20,778,045 shares of the enterprise software provider’s stock worth $1,115,989,000 after purchasing an additional 345,982 shares during the period. Fisher Asset Management LLC grew its stake in shares of Oracle by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 15,567,402 shares of the enterprise software provider’s stock worth $886,875,000 after purchasing an additional 562,921 shares during the period. Polen Capital Management LLC grew its stake in Oracle by 3.1% in the 2nd quarter. Polen Capital Management LLC now owns 14,444,171 shares of the enterprise software provider’s stock valued at $822,884,000 after acquiring an additional 430,254 shares during the last quarter. Finally, Boston Partners grew its stake in Oracle by 5.0% in the 1st quarter. Boston Partners now owns 13,088,162 shares of the enterprise software provider’s stock valued at $702,965,000 after acquiring an additional 626,663 shares during the last quarter. Institutional investors own 53.05% of the company’s stock.

Oracle Company Profile

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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Analyst Recommendations for Oracle (NYSE:ORCL)

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