Oracle (NYSE:ORCL) Upgraded to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Oracle (NYSE:ORCL) from a sector perform rating to an outperform rating in a research note released on Monday morning, AnalystRatings.com reports. The firm currently has $68.00 price objective on the enterprise software provider’s stock, up from their previous price objective of $60.00.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus increased their price objective on Oracle from $48.00 to $56.00 and gave the stock a hold rating in a research report on Friday, September 11th. BNP Paribas cut Oracle from an outperform rating to a neutral rating and set a $56.00 price objective for the company. in a research report on Monday, June 1st. Wedbush reiterated a neutral rating and issued a $52.00 price objective (up previously from $48.00) on shares of Oracle in a research report on Thursday, June 11th. Jefferies Financial Group increased their price objective on Oracle from $55.00 to $65.00 and gave the stock a hold rating in a research report on Friday, September 11th. Finally, Credit Suisse Group increased their price objective on Oracle from $62.00 to $66.00 and gave the stock an outperform rating in a research report on Friday, September 11th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $60.03.

Oracle stock opened at $59.30 on Monday. Oracle has a 12 month low of $39.71 and a 12 month high of $62.60. The company has a debt-to-equity ratio of 6.68, a current ratio of 2.66 and a quick ratio of 3.03. The business has a 50 day simple moving average of $56.75 and a 200-day simple moving average of $53.69. The stock has a market capitalization of $178.55 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.44 and a beta of 0.83.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, September 10th. The enterprise software provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.07. Oracle had a return on equity of 85.71% and a net margin of 26.13%. During the same quarter in the previous year, the firm earned $0.81 earnings per share. As a group, equities research analysts anticipate that Oracle will post 3.59 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 8th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Wednesday, October 7th. Oracle’s payout ratio is 27.75%.

In other Oracle news, EVP Dorian Daley sold 112,500 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $60.95, for a total value of $6,856,875.00. Following the sale, the executive vice president now directly owns 112,500 shares of the company’s stock, valued at approximately $6,856,875. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO W Corey West sold 7,021 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $61.02, for a total value of $428,421.42. Following the completion of the transaction, the chief accounting officer now owns 292,474 shares in the company, valued at $17,846,763.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,529,673 shares of company stock worth $139,428,167. 36.60% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in ORCL. Vanguard Group Inc. raised its holdings in shares of Oracle by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 189,431,168 shares of the enterprise software provider’s stock worth $10,469,860,000 after purchasing an additional 15,843,802 shares during the period. Nordea Investment Management AB raised its holdings in shares of Oracle by 109.0% in the 2nd quarter. Nordea Investment Management AB now owns 29,962,944 shares of the enterprise software provider’s stock worth $1,650,358,000 after purchasing an additional 15,627,102 shares during the period. California Public Employees Retirement System raised its holdings in shares of Oracle by 39.8% in the 1st quarter. California Public Employees Retirement System now owns 10,076,245 shares of the enterprise software provider’s stock worth $486,985,000 after purchasing an additional 2,868,396 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Oracle in the 2nd quarter worth about $128,125,000. Finally, LSV Asset Management raised its holdings in shares of Oracle by 17.2% in the 2nd quarter. LSV Asset Management now owns 11,498,824 shares of the enterprise software provider’s stock worth $635,539,000 after purchasing an additional 1,687,199 shares during the period. Institutional investors own 48.24% of the company’s stock.

Oracle Company Profile

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.

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