Piper Sandler Raises Oracle (NYSE:ORCL) Price Target to $150.00

Oracle (NYSE:ORCL) had its price objective upped by Piper Sandler from $140.00 to $150.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the enterprise software provider’s stock.

Other equities analysts have also recently issued research reports about the company. Oppenheimer began coverage on Oracle in a report on Thursday, April 18th. They issued a market perform rating for the company. The Goldman Sachs Group boosted their price objective on Oracle from $115.00 to $130.00 and gave the company a neutral rating in a report on Wednesday, March 13th. Bank of America boosted their price objective on Oracle from $144.00 to $155.00 and gave the company a neutral rating in a report on Wednesday. Morgan Stanley boosted their price objective on Oracle from $115.00 to $125.00 and gave the company an equal weight rating in a report on Wednesday. Finally, HSBC boosted their price objective on Oracle from $144.00 to $155.00 and gave the company a buy rating in a report on Wednesday, March 13th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $141.50.

Oracle Stock Down 1.2 %

Oracle stock opened at $138.13 on Wednesday. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.71. The business’s 50-day simple moving average is $121.04 and its two-hundred day simple moving average is $116.13. The company has a market cap of $379.65 billion, a PE ratio of 37.23, a PEG ratio of 2.50 and a beta of 1.01. Oracle has a fifty-two week low of $99.26 and a fifty-two week high of $142.40.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.02). The firm had revenue of $14.29 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Oracle had a net margin of 19.76% and a return on equity of 223.01%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.35 EPS. Equities analysts anticipate that Oracle will post 5.01 EPS for the current year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.60 annualized dividend and a yield of 1.16%. Oracle’s dividend payout ratio (DPR) is currently 43.13%.

Insiders Place Their Bets

In other news, CEO Safra Catz sold 790,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $126.54, for a total value of $99,966,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at $141,546,631.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Safra Catz sold 790,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $126.54, for a total value of $99,966,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at $141,546,631.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George H. Conrades sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $116.00, for a total value of $2,320,000.00. Following the completion of the sale, the director now owns 17,836 shares of the company’s stock, valued at $2,068,976. The disclosure for this sale can be found here. In the last three months, insiders sold 880,000 shares of company stock worth $110,488,150. Corporate insiders own 42.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ORCL. Westend Capital Management LLC purchased a new position in shares of Oracle during the first quarter worth about $25,000. Orion Capital Management LLC purchased a new position in shares of Oracle during the third quarter worth about $25,000. Spartan Planning & Wealth Management purchased a new position in shares of Oracle during the third quarter worth about $27,000. Tidemark LLC purchased a new position in shares of Oracle during the fourth quarter worth about $29,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Oracle during the fourth quarter worth about $30,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

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.