Oracle (NYSE:ORCL) announced that its Board of Directors has approved a stock repurchase program, which authorizes the company to buyback $12.00 billion in outstanding shares on Friday, February 2nd, EventVestor reports. This buyback authorization authorizes the enterprise software provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Oracle (NYSE ORCL) traded up $0.38 during mid-day trading on Monday, reaching $50.51. 3,332,116 shares of the company’s stock were exchanged, compared to its average volume of 15,770,048. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07. Oracle has a 1 year low of $40.01 and a 1 year high of $53.14. The company has a market capitalization of $207,518.25, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The firm had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the previous year, the business posted $0.61 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. research analysts expect that Oracle will post 2.68 EPS for the current fiscal year.
ORCL has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. BidaskClub upgraded shares of Oracle from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Stifel Nicolaus reiterated a “buy” rating on shares of Oracle in a report on Sunday, October 22nd. Vetr downgraded shares of Oracle from a “buy” rating to a “hold” rating and set a $51.74 price objective on the stock. in a report on Tuesday, October 24th. Finally, UBS Group reiterated a “neutral” rating and issued a $55.00 price objective (down from $57.00) on shares of Oracle in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have given a buy rating to the company’s stock. Oracle currently has an average rating of “Buy” and an average target price of $55.39.
In other news, insider Thomas Kurian sold 1,700,000 shares of the business’s stock in a transaction dated 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 $76,590,815.07. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $52.00, for a total transaction of $5,200,000.00. Following the completion of the sale, the executive vice president now directly owns 37,576 shares of the company’s stock, valued at approximately $1,953,952. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,956,250 shares of company stock valued at $98,313,363. Company insiders own 29.00% of the company’s stock.
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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.
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