Oracle (NYSE:ORCL) Given a $62.00 Price Target at Goldman Sachs Group

Goldman Sachs Group set a $62.00 price objective on Oracle (NYSE:ORCL) in a research note issued to investors on Thursday morning, Borsen Zeitung reports. The firm currently has a buy rating on the enterprise software provider’s stock.

ORCL has been the subject of several other research reports. William Blair restated a market perform rating on shares of Oracle in a research report on Thursday, June 20th. KeyCorp restated a hold rating on shares of Oracle in a research report on Thursday, June 20th. Raymond James boosted their target price on Oracle from $57.00 to $61.00 and gave the company an outperform rating in a research report on Thursday, June 20th. BMO Capital Markets restated a market perform rating and set a $60.00 target price (up previously from $59.00) on shares of Oracle in a research report on Thursday. Finally, ValuEngine lowered Oracle from a buy rating to a hold rating in a research report on Thursday, August 1st. 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 company. The company currently has an average rating of Hold and an average price target of $55.88.

Shares of NYSE:ORCL traded down $0.14 during trading hours on Thursday, hitting $53.75. 14,566,066 shares of the company’s stock traded hands, compared to its average volume of 9,948,703. Oracle has a 1 year low of $42.40 and a 1 year high of $60.50. The business has a fifty day moving average price of $54.15 and a 200-day moving average price of $54.46. The firm has a market capitalization of $185.04 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.18. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.49 and a quick ratio of 2.49.



Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.09. Oracle had a return on equity of 40.95% and a net margin of 28.06%. The business had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts predict that Oracle will post 3.49 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.79%. Oracle’s payout ratio is 30.38%.

In related news, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $56.92, for a total value of $5,692,000.00. Following the completion of the transaction, the executive vice president now owns 177,919 shares of the company’s stock, valued at $10,127,149.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO W Corey West sold 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer now directly owns 85,348 shares of the company’s stock, valued at approximately $4,800,825. The disclosure for this sale can be found here. Insiders sold 2,140,000 shares of company stock valued at $117,501,425 in the last quarter. 32.00% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Appleton Partners Inc. MA increased its position in shares of Oracle by 2.9% during the second quarter. Appleton Partners Inc. MA now owns 6,170 shares of the enterprise software provider’s stock worth $351,000 after purchasing an additional 173 shares in the last quarter. Northern Oak Wealth Management Inc. increased its position in shares of Oracle by 14.8% during the second quarter. Northern Oak Wealth Management Inc. now owns 1,378 shares of the enterprise software provider’s stock worth $78,000 after purchasing an additional 178 shares in the last quarter. Wedgewood Investors Inc. PA increased its position in shares of Oracle by 4.1% during the first quarter. Wedgewood Investors Inc. PA now owns 4,650 shares of the enterprise software provider’s stock worth $250,000 after purchasing an additional 185 shares in the last quarter. Slow Capital Inc. grew its holdings in shares of Oracle by 1.1% during the second quarter. Slow Capital Inc. now owns 17,403 shares of the enterprise software provider’s stock valued at $991,000 after buying an additional 197 shares during the last quarter. Finally, Meristem Family Wealth LLC grew its holdings in shares of Oracle by 4.6% during the second quarter. Meristem Family Wealth LLC now owns 4,478 shares of the enterprise software provider’s stock valued at $255,000 after buying an additional 198 shares during the last quarter. 53.05% of the stock is owned by institutional investors.

About Oracle

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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