Cleveland Research Downgrades Oracle (ORCL) to Neutral

Oracle (NYSE:ORCL) was downgraded by stock analysts at Cleveland Research from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, The Fly reports.

ORCL has been the topic of several other research reports. Vetr downgraded Oracle from a “strong-buy” rating to a “buy” rating and set a $55.49 target price on the stock. in a research note on Monday, November 6th. BidaskClub downgraded Oracle from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 4th. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 target price on shares of Oracle in a research note on Tuesday, November 21st. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Wednesday, November 15th. Finally, Royal Bank of Canada set a $53.00 target price on Oracle and gave the company a “buy” rating in a research note on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Oracle currently has an average rating of “Buy” and a consensus price target of $55.38.

Shares of Oracle (ORCL) traded down $0.71 during midday trading on Tuesday, hitting $50.00. The company had a trading volume of 4,165,217 shares, compared to its average volume of 16,327,672. The company has a market cap of $207,560.00, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08. Oracle has a 1-year low of $41.93 and a 1-year high of $53.14. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. equities research analysts forecast that Oracle will post 2.68 earnings per share for the current year.

Oracle declared that its Board of Directors has initiated a share buyback program on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

In other news, insider Thomas Kurian sold 1,700,000 shares of Oracle stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the transaction, the insider now owns 1,522,983 shares in the company, valued at $76,590,815.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the transaction, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The disclosure for this sale can be found here. Insiders sold a total of 1,956,250 shares of company stock worth $98,316,475 over the last 90 days. Insiders own 29.00% of the company’s stock.

Several hedge funds have recently modified their holdings of ORCL. Pinnacle Financial Partners Inc. boosted its position in Oracle by 8.9% during the second quarter. Pinnacle Financial Partners Inc. now owns 113,707 shares of the enterprise software provider’s stock valued at $5,701,000 after purchasing an additional 9,328 shares during the last quarter. Strategy Asset Managers LLC boosted its position in Oracle by 22.3% during the third quarter. Strategy Asset Managers LLC now owns 257,359 shares of the enterprise software provider’s stock valued at $12,443,000 after purchasing an additional 46,866 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Oracle during the second quarter valued at $459,738,000. CIBC World Markets Inc. boosted its position in Oracle by 51.3% during the second quarter. CIBC World Markets Inc. now owns 231,515 shares of the enterprise software provider’s stock valued at $11,608,000 after purchasing an additional 78,482 shares during the last quarter. Finally, Signature Financial Management Inc. acquired a new stake in Oracle during the second quarter valued at $206,000. Institutional investors and hedge funds own 58.36% 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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