Oracle (NYSE:ORCL) Given Neutral Rating at Wedbush

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Wedbush reiterated their neutral rating on shares of Oracle (NYSE:ORCL) in a research note released on Friday, RTT News reports. The brokerage currently has a $55.00 price objective on the enterprise software provider’s stock.

Other equities research analysts have also issued reports about the company. Cowen began coverage on Oracle in a research report on Friday, August 16th. They set a buy rating and a $65.00 target price for the company. Raymond James raised their target price on Oracle from $57.00 to $61.00 and gave the company an outperform rating in a research report on Thursday, June 20th. BMO Capital Markets reaffirmed a market perform rating and set a $60.00 target price (up from $59.00) on shares of Oracle in a research report on Thursday. William Blair reaffirmed a market perform rating on shares of Oracle in a research report on Thursday, June 20th. Finally, Jefferies Financial Group raised their target price on Oracle from $61.00 to $66.00 and gave the company a buy rating in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $55.88.

NYSE ORCL opened at $53.75 on Friday. The firm has a market capitalization of $179.77 billion, a P/E ratio of 17.01, a PEG ratio of 1.57 and a beta of 1.18. The business has a fifty day simple moving average of $54.06 and a 200 day simple moving average of $54.46. Oracle has a 12 month low of $42.40 and a 12 month high of $60.50. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 2.31.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09. Oracle had a return on equity of 45.61% and a net margin of 27.71%. The firm had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the firm posted $0.71 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Oracle will post 3.49 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, October 9th. Oracle’s dividend payout ratio (DPR) is currently 30.38%.

In other Oracle news, CAO W Corey West sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $56.25, for a total value 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark V. Hurd sold 787,500 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $56.29, for a total value of $44,328,375.00. Following the completion of the transaction, the chief executive officer now owns 874,871 shares of the company’s stock, valued at approximately $49,246,488.59. The disclosure for this sale can be found here. In the last three months, insiders sold 2,140,000 shares of company stock valued at $117,501,425. 32.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. River & Mercantile Asset Management LLP bought a new stake in shares of Oracle during the 2nd quarter valued at about $2,399,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Oracle during the 2nd quarter valued at about $256,000. Rehmann Capital Advisory Group boosted its position in shares of Oracle by 23.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 11,725 shares of the enterprise software provider’s stock valued at $668,000 after acquiring an additional 2,250 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of Oracle by 21.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 16,509 shares of the enterprise software provider’s stock valued at $941,000 after acquiring an additional 2,872 shares during the last quarter. Finally, Atria Investments LLC boosted its position in shares of Oracle by 31.9% during the 2nd quarter. Atria Investments LLC now owns 91,325 shares of the enterprise software provider’s stock valued at $4,844,000 after acquiring an additional 22,093 shares during the last quarter. Institutional investors and hedge funds own 53.05% of the company’s stock.

About Oracle

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.

Further Reading: Oversold

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