A number of other brokerages have also weighed in on ORCL. Wedbush reaffirmed a buy rating and issued a $58.00 target price on shares of Oracle in a research note on Friday, December 15th. Canaccord Genuity reduced their target price on shares of Oracle from $57.00 to $53.00 and set a buy rating for the company in a research note on Friday, December 15th. Vetr lowered shares of Oracle from a buy rating to a hold rating and set a $51.82 target price for the company. in a research note on Wednesday, January 17th. JPMorgan Chase & Co. set a $55.00 target price on shares of Oracle and gave the stock a buy rating in a research note on Tuesday, December 12th. Finally, ValuEngine raised shares of Oracle from a hold rating to a buy rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have issued a buy rating to the stock. Oracle has an average rating of Buy and a consensus target price of $56.38.
Oracle (NYSE ORCL) traded down $0.10 on Friday, hitting $52.27. 17,883,567 shares of the company were exchanged, compared to its average volume of 13,018,100. 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 $43.60 and a 1-year high of $53.48. The company has a market cap of $216,377.00, a PE ratio of 22.43, a P/E/G ratio of 1.99 and a beta of 1.05.
Oracle declared that its board has authorized a stock buyback plan 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. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $49.66, for a total value of $186,225.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Naomi O. Seligman sold 45,000 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $51.34, for a total transaction of $2,310,300.00. Following the completion of the transaction, the director now directly owns 62,498 shares in the company, valued at $3,208,647.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,952,500 shares of company stock worth $98,134,975. Insiders own 29.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Strategy Asset Managers LLC increased its stake in Oracle by 22.3% in 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 acquiring an additional 46,866 shares during the last quarter. BT Investment Management Ltd bought a new position in Oracle in the second quarter valued at approximately $459,738,000. CIBC World Markets Inc. increased its stake in Oracle by 51.3% in 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 acquiring an additional 78,482 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Oracle by 7.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 170,840 shares of the enterprise software provider’s stock valued at $8,566,000 after acquiring an additional 11,244 shares during the last quarter. Finally, Polen Capital Management LLC increased its stake in Oracle by 7.3% in the second quarter. Polen Capital Management LLC now owns 12,620,261 shares of the enterprise software provider’s stock valued at $632,780,000 after acquiring an additional 854,240 shares during the last quarter. 58.03% of the stock is currently owned by institutional investors.
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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