Oracle (NYSE:ORCL) Issues Quarterly Earnings Results

Oracle (NYSE:ORCL) posted its quarterly earnings data on Monday. The enterprise software provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04, MarketWatch Earnings reports. The company had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.48 billion. Oracle had a net margin of 17.02% and a negative return on equity of 470.73%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. Oracle updated its Q2 guidance to $1.30-1.34 EPS.

Oracle Stock Down 13.5 %

Shares of NYSE ORCL opened at $109.61 on Wednesday. The stock has a 50-day moving average price of $117.41 and a two-hundred day moving average price of $105.85. Oracle has a 12 month low of $60.78 and a 12 month high of $127.54. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 55.54. The company has a market cap of $297.51 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 3.48 and a beta of 1.00.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Thursday, October 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.46%. Oracle’s dividend payout ratio (DPR) is presently 52.29%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ORCL. Stifel Nicolaus boosted their target price on shares of Oracle from $84.00 to $120.00 in a report on Tuesday, June 13th. Piper Sandler restated an “overweight” rating and set a $130.00 price objective on shares of Oracle in a research note on Tuesday. DA Davidson cut their target price on shares of Oracle from $115.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday. The Goldman Sachs Group upgraded Oracle from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $75.00 to $120.00 in a report on Tuesday, June 13th. Finally, Evercore ISI upped their price objective on Oracle from $125.00 to $131.00 and gave the company an “in-line” rating in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $122.10.

Insider Activity at Oracle

In other news, insider Edward Screven sold 354,837 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $123.39, for a total transaction of $43,783,337.43. Following the completion of the transaction, the insider now directly owns 2,543,033 shares in the company, valued at $313,784,841.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Edward Screven sold 354,837 shares of the business’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $123.39, for a total transaction of $43,783,337.43. Following the sale, the insider now directly owns 2,543,033 shares in the company, valued at $313,784,841.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Berg sold 4,866 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $125.31, for a total transaction of $609,758.46. Following the completion of the transaction, the director now owns 207,409 shares of the company’s stock, valued at approximately $25,990,421.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,175,443 shares of company stock valued at $510,658,596. 43.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Oracle

Several institutional investors and hedge funds have recently made changes to their positions in ORCL. Studio Investment Management LLC acquired a new stake in shares of Oracle during the fourth quarter worth $42,000. IMA Wealth Inc. grew its holdings in Oracle by 30.5% during the 2nd quarter. IMA Wealth Inc. now owns 428 shares of the enterprise software provider’s stock worth $51,000 after acquiring an additional 100 shares during the period. Milestone Investment Advisors LLC bought a new position in shares of Oracle in the 1st quarter worth about $56,000. First Capital Advisors Group LLC. bought a new position in shares of Oracle in the 2nd quarter worth about $93,000. Finally, Sanctuary Wealth Management L.L.C. bought a new position in shares of Oracle in the 4th quarter worth about $104,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

About Oracle

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.