Oracle’s (ORCL) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Oracle (NYSE:ORCL) in a research report released on Wednesday morning,Benzinga reports. They currently have a $130.00 price target on the enterprise software provider’s stock.

ORCL has been the topic of several other research reports. CIBC reissued a “buy” rating on shares of Oracle in a research note on Monday. Citigroup boosted their price objective on shares of Oracle from $160.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, June 9th. Bank of America reduced their price objective on shares of Oracle from $195.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Mizuho reduced their price objective on shares of Oracle from $210.00 to $180.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald reduced their price objective on shares of Oracle from $214.00 to $175.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Twelve investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and a consensus target price of $194.32.

Oracle Stock Up 7.8%

NYSE ORCL opened at $215.54 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle has a 1-year low of $118.86 and a 1-year high of $216.60. The company has a 50 day moving average of $152.88 and a 200-day moving average of $160.62. The company has a market cap of $602.86 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 3.46 and a beta of 1.32.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The company had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the previous year, the business earned $1.63 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities research analysts expect that Oracle will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.93%. Oracle’s dividend payout ratio (DPR) is currently 46.08%.

Insider Transactions at Oracle

In related news, Director Leon E. Panetta sold 5,000 shares of Oracle stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $129.77, for a total transaction of $648,850.00. Following the completion of the sale, the director now owns 58,090 shares in the company, valued at $7,538,339.30. This trade represents a 7.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the completion of the sale, the insider now owns 1,097,576 shares of the company’s stock, valued at approximately $209,000,421.92. This represents a 26.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 427,366 shares of company stock worth $80,183,723. 42.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in Oracle during the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC purchased a new stake in Oracle during the 1st quarter worth approximately $28,000. Iron Horse Wealth Management LLC grew its position in Oracle by 284.9% during 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 during the last quarter. Sunbeam Capital Management LLC purchased a new stake in Oracle during the 4th quarter worth approximately $30,000. Finally, Hurley Capital LLC purchased a new stake in Oracle during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

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.