Vetr Lowers Oracle (ORCL) to Hold

Vetr downgraded shares of Oracle (NYSE:ORCL) from a buy rating to a hold rating in a research report released on Wednesday morning. They currently have $51.82 target price on the enterprise software provider’s stock.

Several other research firms have also recently issued reports on ORCL. Canaccord Genuity initiated coverage on Oracle in a research note on Friday, October 6th. They set a buy rating and a $57.00 target price on the stock. Wedbush reissued a buy rating and set a $58.00 target price on shares of Oracle in a research note on Friday, December 15th. BTIG Research reissued a buy rating and set a $58.00 target price on shares of Oracle in a research note on Tuesday, September 19th. JPMorgan Chase & Co. set a $55.00 target price on Oracle and gave the company a buy rating in a research note on Tuesday, December 12th. Finally, BidaskClub raised Oracle from a hold rating to a buy rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $55.27.

Oracle (NYSE ORCL) opened at $50.58 on Wednesday. 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 12 month low of $39.43 and a 12 month high of $53.14. The stock has a market capitalization of $211,090.00, a P/E ratio of 21.71, a PEG ratio of 1.92 and a beta of 1.05.

Oracle (NYSE:ORCL) last posted its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm had revenue of $9.63 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. sell-side analysts anticipate that Oracle will post 2.68 EPS for the current fiscal year.

Oracle announced that its board has approved a stock 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. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is 32.62%.

In other news, insider Thomas Kurian sold 1,700,000 shares of the company’s 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 directly owns 1,522,983 shares of the company’s stock, valued at $76,590,815.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Dorian Daley sold 100,000 shares of the company’s 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 directly owns 136,954 shares in the company, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders sold 1,811,250 shares of company stock worth $90,803,063 over the last three months. Corporate insiders own 29.00% of the company’s stock.

Several large investors have recently made changes to their positions in ORCL. BT Investment Management Ltd bought a new position in Oracle in the second quarter valued at about $459,738,000. Harris Associates L P lifted its holdings in Oracle by 17.9% in the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after acquiring an additional 7,427,501 shares during the period. FMR LLC lifted its holdings in Oracle by 24.8% in the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after acquiring an additional 6,577,297 shares during the period. Vanguard Group Inc. lifted its holdings in Oracle by 2.6% in the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after acquiring an additional 5,270,359 shares during the period. Finally, Boston Partners lifted its holdings in Oracle by 24.4% in the third quarter. Boston Partners now owns 23,924,971 shares of the enterprise software provider’s stock valued at $1,156,772,000 after acquiring an additional 4,699,334 shares during the period. 57.89% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view Vetr’s full report, visit Vetr’s official website.

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