Zacks Investment Research lowered shares of Oracle Corporation (NYSE:ORCL) from a hold rating to a sell rating in a research note released on Tuesday, October 17th.
According to Zacks, “Oracle's first-quarter fiscal 2018 results were impressive. The company is benefiting from significant momentum in the SaaS offerings. The company stated that it is wining market share against salesforce.com and Workday. We believe the company’s growing cloud market share will continue to drive top-line growth in the foreseeable future. Moreover, the upcoming launch of the next-generation autonomous database, which is supported by machine learning, is a key catalyst. However, soft outlook for the second quarter reflects slowing cloud momentum, particualrly due to increasing competition from Microsoft Azure and Amazon Web Services. Moreover, higher investments on PaaS and IaaS will keep margins under pressure in the near term. We note that the stock has underperformed the industry on a year-to-date basis.”
Several other research firms also recently weighed in on ORCL. Wedbush restated an outperform rating and issued a $58.00 price target on shares of Oracle Corporation in a research note on Friday, September 15th. UBS AG reiterated a buy rating and set a $57.00 target price (up from $52.00) on shares of Oracle Corporation in a research report on Friday, September 15th. J P Morgan Chase & Co set a $55.00 target price on Oracle Corporation and gave the company a buy rating in a research report on Friday, September 15th. Jefferies Group LLC increased their target price on Oracle Corporation from $60.00 to $61.00 and gave the company a buy rating in a research report on Friday, September 15th. Finally, Oppenheimer Holdings, Inc. restated a hold rating on shares of Oracle Corporation in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $53.73.
Oracle Corporation (ORCL) traded up $0.20 during midday trading on Tuesday, hitting $50.38. 7,058,500 shares of the stock traded hands, compared to its average volume of 15,240,000. The stock has a market cap of $209,430.00, a price-to-earnings ratio of 19.68, a P/E/G ratio of 1.91 and a beta of 1.07. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 0.86. Oracle Corporation has a 12-month low of $37.64 and a 12-month high of $53.14.
Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The company had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. analysts forecast that Oracle Corporation will post 2.68 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, October 10th. This represents a $0.76 dividend on an annualized basis and a yield of 1.51%. Oracle Corporation’s payout ratio is 33.19%.
In related news, Director Jeffrey Berg sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $48.03, for a total value of $2,161,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $50.35, for a total value of $188,812.50. Following the completion of the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at $912,593.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 305,776 shares of company stock valued at $14,822,112. Company insiders own 29.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC grew its holdings in Oracle Corporation by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after buying an additional 1,800 shares during the last quarter. Burt Wealth Advisors grew its holdings in Oracle Corporation by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after buying an additional 88 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in Oracle Corporation by 1,150.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 2,300 shares during the last quarter. TrimTabs Asset Management LLC grew its holdings in Oracle Corporation by 88.8% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after buying an additional 1,264 shares during the last quarter. Finally, Baystate Wealth Management LLC grew its holdings in Oracle Corporation by 9.2% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $123,000 after buying an additional 206 shares during the last quarter. 58.10% of the stock is owned by hedge funds and other institutional investors.
About Oracle Corporation
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.
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