Credit Suisse Group Analysts Give Oracle (NYSE:ORCL) a $62.00 Price Target
Credit Suisse Group set a $62.00 price objective on Oracle (NYSE:ORCL) in a report issued on Thursday, AnalystRatings.com reports. The brokerage currently has a buy rating on the enterprise software provider’s stock.
Other equities analysts also recently issued reports about the stock. UBS Group reaffirmed a neutral rating and set a $54.00 price objective on shares of Oracle in a report on Friday, June 14th. Wells Fargo & Co lifted their target price on Oracle from $60.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday, June 20th. Raymond James lifted their target price on Oracle from $57.00 to $61.00 and gave the stock an outperform rating in a research note on Thursday, June 20th. KeyCorp reiterated a hold rating on shares of Oracle in a research note on Thursday, June 20th. Finally, Zacks Investment Research upgraded Oracle from a hold rating to a buy rating and set a $61.00 target price on the stock in a research note on Wednesday, May 15th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $55.88.
NYSE ORCL traded down $0.26 during mid-day trading on Thursday, hitting $53.63. The company’s stock had a trading volume of 561,638 shares, compared to its average volume of 9,948,703. The company’s 50 day simple moving average is $54.15 and its 200 day simple moving average is $54.46. Oracle has a twelve month low of $42.40 and a twelve month high of $60.50. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $185.04 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.62 and a beta of 1.18.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Wednesday, October 9th. Oracle’s dividend payout ratio is currently 30.38%.
In other news, CAO W Corey West sold 50,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $56.25, for a total transaction of $2,812,500.00. Following the sale, the chief accounting officer now directly owns 85,348 shares in the company, valued at $4,800,825. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark V. Hurd sold 787,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $51.80, for a total value of $40,792,500.00. Following the sale, the chief executive officer now owns 1,038,755 shares in the company, valued at $53,807,509. The disclosure for this sale can be found here. Insiders sold a total of 2,140,000 shares of company stock worth $117,501,425 over the last 90 days. 32.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. River & Mercantile Asset Management LLP purchased a new position in shares of Oracle during the second quarter worth about $2,399,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Oracle in the second quarter worth approximately $256,000. Rehmann Capital Advisory Group boosted its stake in Oracle by 23.7% in the second quarter. Rehmann Capital Advisory Group now owns 11,725 shares of the enterprise software provider’s stock worth $668,000 after buying an additional 2,250 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Oracle by 21.1% in the second quarter. EP Wealth Advisors LLC now owns 16,509 shares of the enterprise software provider’s stock worth $941,000 after buying an additional 2,872 shares in the last quarter. Finally, Atria Investments LLC boosted its stake in Oracle by 31.9% in the second quarter. Atria Investments LLC now owns 91,325 shares of the enterprise software provider’s stock worth $4,844,000 after buying an additional 22,093 shares in the last quarter. Hedge funds and other institutional investors own 53.05% 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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