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 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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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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