Cowen Begins Coverage on Oracle (NYSE:ORCL)

Cowen initiated coverage on shares of Oracle (NYSE:ORCL) in a report issued on Friday, TipRanks reports. The brokerage issued a buy rating and a $65.00 price objective on the enterprise software provider’s stock.

A number of other equities research analysts have also recently weighed in on ORCL. Wedbush restated a neutral rating and issued a $55.00 price objective (down previously from $55.92) on shares of Oracle in a report on Thursday, June 20th. William Blair reiterated a market perform rating on shares of Oracle in a report on Thursday, June 20th. ValuEngine cut shares of Oracle from a buy rating to a hold rating in a report on Thursday, August 1st. Raymond James increased their price target on shares of Oracle from $57.00 to $61.00 and gave the company an outperform rating in a report on Thursday, June 20th. Finally, Goldman Sachs Group reiterated a buy rating and set a $58.00 price target on shares of Oracle in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $55.14.

Oracle stock traded up $0.28 during mid-day trading on Friday, hitting $53.87. The company’s stock had a trading volume of 8,261,686 shares, compared to its average volume of 13,858,598. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.49 and a quick ratio of 2.49. The stock has a market cap of $175.43 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The business has a 50 day moving average price of $57.09 and a 200-day moving average price of $54.29. Oracle has a 12 month low of $42.40 and a 12 month high of $60.50.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.18. The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $10.93 billion. Oracle had a net margin of 28.06% and a return on equity of 40.95%. Oracle’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 earnings per share. On average, equities research analysts expect that Oracle will post 3.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th were paid a $0.24 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.78%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.

In related news, CAO W Corey West sold 50,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were 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 $4,800,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Naomi O. Seligman sold 90,000 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $59.52, for a total transaction of $5,356,800.00. Following the transaction, the director now directly owns 82,310 shares of the company’s stock, valued at $4,899,091.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,352,500 shares of company stock valued at $76,708,925. Corporate insiders own 32.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Magellan Asset Management Ltd grew its stake in shares of Oracle by 0.5% in the 4th quarter. Magellan Asset Management Ltd now owns 30,936,949 shares of the enterprise software provider’s stock worth $1,396,803,000 after buying an additional 148,974 shares in the last quarter. Norges Bank bought a new stake in shares of Oracle in the 4th quarter worth about $1,235,719,000. Longview Partners Guernsey LTD lifted its holdings in shares of Oracle by 16.9% in the 2nd quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock worth $1,267,227,000 after acquiring an additional 3,220,296 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Oracle by 1.7% in the 1st quarter. Clearbridge Investments LLC now owns 20,778,045 shares of the enterprise software provider’s stock worth $1,115,989,000 after acquiring an additional 345,982 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Oracle by 3.8% in the 2nd quarter. Fisher Asset Management LLC now owns 15,567,402 shares of the enterprise software provider’s stock worth $886,875,000 after acquiring an additional 562,921 shares during the last quarter. 53.71% 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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