Oracle (NYSE:ORCL) had its price target boosted by Barclays from $56.00 to $60.00 in a research report sent to investors on Monday. They currently have an overweight rating on the enterprise software provider’s stock. The analysts noted that the move was a valuation call.
A number of other research firms also recently commented on ORCL. Canaccord Genuity decreased their target price on Oracle from $57.00 to $53.00 and set a buy rating on the stock in a research report on Friday, December 15th. Wedbush reiterated a buy rating and issued a $58.00 target price on shares of Oracle in a research report on Friday, December 15th. Vetr downgraded Oracle from a buy rating to a hold rating and set a $51.82 target price on the stock. in a research report on Wednesday, January 17th. JPMorgan Chase & Co. set a $55.00 target price on Oracle and gave the stock a buy rating in a research report on Tuesday, December 12th. Finally, ValuEngine upgraded Oracle from a hold rating to a buy rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $55.99.
Shares of Oracle (ORCL) opened at $52.32 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04. The company has a market capitalization of $216,580.00, a PE ratio of 22.45, a P/E/G ratio of 2.02 and a beta of 1.05. Oracle has a 52-week low of $42.64 and a 52-week high of $53.48.
Oracle declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Dorian Daley sold 100,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was 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 owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $48.40, for a total value of $181,500.00. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $877,250. The disclosure for this sale can be found here. In the last three months, insiders sold 1,956,250 shares of company stock worth $98,316,475. 29.00% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in ORCL. Cambridge Investment Research Advisors Inc. boosted its position in Oracle by 10.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 257,848 shares of the enterprise software provider’s stock valued at $12,191,000 after acquiring an additional 23,924 shares in the last quarter. Fairfield Bush & CO. boosted its position in Oracle by 4.3% during the 4th quarter. Fairfield Bush & CO. now owns 231,505 shares of the enterprise software provider’s stock valued at $10,946,000 after acquiring an additional 9,470 shares in the last quarter. Wagner Wealth Management LLC bought a new stake in Oracle during the 4th quarter valued at $172,000. Colonial Trust Advisors boosted its position in Oracle by 54.3% during the 4th quarter. Colonial Trust Advisors now owns 135,423 shares of the enterprise software provider’s stock valued at $6,403,000 after acquiring an additional 47,642 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its position in Oracle by 7.7% during the 4th quarter. Xact Kapitalforvaltning AB now owns 633,636 shares of the enterprise software provider’s stock valued at $29,958,000 after acquiring an additional 45,288 shares in 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.
Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.