Oracle (NYSE:ORCL) Trading Up 2.4% – Here’s Why

Oracle Co. (NYSE:ORCL) shares were up 2.4% during mid-day trading on Wednesday . The company traded as high as $145.40 and last traded at $145.42. Approximately 2,581,173 shares were traded during trading, a decline of 71% from the average daily volume of 8,986,966 shares. The stock had previously closed at $141.94.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ORCL. Westpark Capital initiated coverage on shares of Oracle in a research note on Tuesday. They issued a “buy” rating and a $195.00 target price for the company. Bank of America lowered their target price on Oracle from $195.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Cantor Fitzgerald cut their price target on Oracle from $214.00 to $175.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Evercore ISI lowered their price objective on Oracle from $200.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Finally, BMO Capital Markets cut their target price on Oracle from $205.00 to $175.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 11th. Thirteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Oracle currently has an average rating of “Moderate Buy” and an average price target of $178.65.

Oracle Stock Performance

The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a fifty day moving average price of $162.91 and a two-hundred day moving average price of $170.02. The company has a market cap of $412.50 billion, a P/E ratio of 36.06, a PEG ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.02). The business had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $14.40 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. On average, equities analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from Oracle’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Oracle’s payout ratio is 46.95%.

Insider Transactions at Oracle

In other news, CEO Safra Catz sold 2,101,154 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total value of $389,448,893.90. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at $207,331,027.20. This represents a 65.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 42.20% of the company’s stock.

Institutional Investors Weigh In On Oracle

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in Oracle by 5.3% during the third quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after buying an additional 121,874 shares in the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of Oracle by 201.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 1,599 shares of the enterprise software provider’s stock worth $266,000 after acquiring an additional 1,069 shares during the last quarter. RMR Wealth Builders raised its position in shares of Oracle by 383.4% during the fourth quarter. RMR Wealth Builders now owns 7,155 shares of the enterprise software provider’s stock worth $1,192,000 after purchasing an additional 5,675 shares during the period. Foundations Investment Advisors LLC lifted its holdings in shares of Oracle by 24.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 164,593 shares of the enterprise software provider’s stock valued at $27,428,000 after purchasing an additional 32,718 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of Oracle in the 4th quarter valued at $1,800,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Company Profile

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.