Wedbush reaffirmed their outperform rating on shares of Oracle (NYSE:ORCL) in a report published on Tuesday. The firm currently has a $55.00 price target on the enterprise software provider’s stock. Wedbush also issued estimates for Oracle’s Q4 2018 earnings at $0.89 EPS, FY2018 earnings at $2.81 EPS, Q1 2019 earnings at $0.67 EPS, Q2 2019 earnings at $0.74 EPS, Q3 2019 earnings at $0.79 EPS, Q4 2019 earnings at $0.97 EPS, FY2019 earnings at $3.16 EPS and FY2020 earnings at $3.47 EPS.
A number of other research firms have also recently commented on ORCL. Barclays upped their price target on Oracle from $56.00 to $60.00 and gave the stock an overweight rating in a research note on Monday, March 12th. They noted that the move was a valuation call. OTR Global cut Oracle to a positive rating in a research note on Friday, March 9th. Cleveland Research restated a hold rating on shares of Oracle in a research note on Saturday, March 17th. Morgan Stanley restated a buy rating on shares of Oracle in a research note on Sunday, March 18th. Finally, Instinet began coverage on Oracle in a research note on Wednesday, January 24th. They set a buy rating and a $51.12 price target on the stock. Fifteen analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $56.11.
Oracle (ORCL) opened at $44.79 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 5.04 and a current ratio of 4.33. Oracle has a 52 week low of $43.60 and a 52 week high of $53.48. The company has a market capitalization of $194,644.09, a price-to-earnings ratio of 54.62, a price-to-earnings-growth ratio of 1.78 and a beta of 1.05.
Oracle announced that its board has authorized a share buyback plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 17th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.70%. Oracle’s dividend payout ratio is presently 92.68%.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $52.00, for a total transaction of $5,200,000.00. Following the transaction, the executive vice president now owns 37,576 shares of the company’s stock, valued at $1,953,952. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Kurian sold 1,700,000 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $50.29, for a total value of $85,493,000.00. Following the transaction, the insider now directly owns 1,522,983 shares in the company, valued at approximately $76,590,815.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,856,250 shares of company stock worth $93,571,688. 29.00% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of ORCL. Strategy Asset Managers LLC grew its holdings in shares of Oracle by 22.3% during the third quarter. Strategy Asset Managers LLC now owns 257,359 shares of the enterprise software provider’s stock worth $12,443,000 after buying an additional 46,866 shares during the last quarter. BT Investment Management Ltd purchased a new position in shares of Oracle during the second quarter worth about $459,738,000. CIBC World Markets Inc. grew its holdings in shares of Oracle by 51.3% during the second quarter. CIBC World Markets Inc. now owns 231,515 shares of the enterprise software provider’s stock worth $11,608,000 after buying an additional 78,482 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Oracle by 7.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 170,840 shares of the enterprise software provider’s stock worth $8,566,000 after buying an additional 11,244 shares during the last quarter. Finally, Polen Capital Management LLC grew its holdings in shares of Oracle by 7.3% during the second quarter. Polen Capital Management LLC now owns 12,620,261 shares of the enterprise software provider’s stock worth $632,780,000 after buying an additional 854,240 shares during the last quarter. 57.93% of the stock is currently owned by institutional investors.
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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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