Oracle (ORCL) Lowered to “Neutral” at Bank of America

Bank of America cut shares of Oracle (NYSE:ORCL) from a buy rating to a neutral rating in a report published on Tuesday, MarketBeat.com reports.

Several other research firms also recently issued reports on ORCL. Wedbush restated a buy rating and issued a $58.00 price target on shares of Oracle in a research note on Friday, December 15th. Canaccord Genuity reduced their price target on Oracle from $57.00 to $53.00 and set a buy rating for the company in a research note on Friday, December 15th. Vetr downgraded Oracle from a buy rating to a hold rating and set a $51.82 price target for the company. in a research note on Wednesday, January 17th. JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the company a buy rating in a research note on Tuesday, December 12th. Finally, ValuEngine upgraded Oracle from a hold rating to a buy rating in a research report on Friday, February 2nd. Fifteen research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $56.11.

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Shares of Oracle (NYSE:ORCL) opened at $44.79 on Tuesday. The stock has a market capitalization of $194,644.09, a price-to-earnings ratio of 54.62, a P/E/G ratio of 1.78 and a beta of 1.05. Oracle has a one year low of $43.60 and a one year high of $53.48. The company has a quick ratio of 5.04, a current ratio of 4.33 and a debt-to-equity ratio of 1.16.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.11. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.77 billion. Oracle had a return on equity of 21.77% and a net margin of 9.25%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. equities analysts predict that Oracle will post 2.7 earnings per share for the current fiscal year.

Oracle declared that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 17th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.70%. Oracle’s payout ratio is presently 92.68%.

In other Oracle news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $52.00, for a total value of $5,200,000.00. Following the completion of the transaction, the executive vice president now owns 37,576 shares of the company’s stock, valued at approximately $1,953,952. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $49.66, for a total value of $186,225.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,856,250 shares of company stock valued at $93,571,688. Insiders own 29.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ORCL. Acrospire Investment Management LLC grew its position in shares of Oracle by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after buying an additional 1,800 shares during the last quarter. Tarbox Family Office Inc. grew its position in shares of Oracle by 71.1% in the 4th quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock valued at $110,000 after buying an additional 965 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in shares of Oracle by 81,200.0% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $118,000 after buying an additional 2,436 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of Oracle in the 4th quarter valued at about $126,000. Finally, ETF Managers Group LLC bought a new stake in shares of Oracle in the 2nd quarter valued at about $133,000. 57.93% of the stock is owned by institutional investors and hedge funds.

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About Oracle

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.

Analyst Recommendations for Oracle (NYSE:ORCL)

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