Oracle (NYSE:ORCL) Price Target Raised to $220.00 at Bank of America

Oracle (NYSE:ORCL) had its target price increased by Bank of America from $156.00 to $220.00 in a report issued on Thursday,Benzinga reports. The firm currently has a neutral rating on the enterprise software provider’s stock.

Several other analysts have also recently commented on ORCL. Evercore ISI reduced their target price on shares of Oracle from $200.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Loop Capital set a $135.00 target price on shares of Oracle in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Oracle from $140.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Oracle from $200.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Guggenheim restated a “buy” rating and issued a $220.00 target price on shares of Oracle in a research note on Thursday, June 5th. Twelve research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.30.

Oracle Stock Up 13.2%

Shares of NYSE:ORCL opened at $199.67 on Thursday. The stock has a market cap of $558.47 billion, a P/E ratio of 48.82, a P/E/G ratio of 3.46 and a beta of 1.32. The firm has a fifty day moving average price of $151.06 and a 200 day moving average price of $160.44. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. Oracle has a 1-year low of $118.86 and a 1-year high of $202.49.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The firm had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. Oracle’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 EPS. Sell-side analysts predict that Oracle will post 5 EPS for the current year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 1.00%. Oracle’s dividend payout ratio (DPR) is currently 46.95%.

Insider Buying and Selling at Oracle

In other Oracle news, Director Naomi O. Seligman sold 2,866 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $149.53, for a total transaction of $428,552.98. Following the completion of the transaction, the director now directly owns 31,764 shares in the company, valued at approximately $4,749,670.92. This trade represents a 8.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leon E. Panetta sold 17,500 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the transaction, the director now owns 58,090 shares of the company’s stock, valued at $8,785,531.60. This trade represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,366 shares of company stock worth $4,015,723. 42.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oracle

A number of hedge funds and other institutional investors have recently modified their holdings of ORCL. Redmont Wealth Advisors LLC purchased a new stake in shares of Oracle during the first quarter worth about $27,000. Inlight Wealth Management LLC purchased a new stake in shares of Oracle during the first quarter worth about $28,000. Iron Horse Wealth Management LLC grew its holdings in shares of Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after buying an additional 151 shares in the last quarter. Sunbeam Capital Management LLC purchased a new stake in shares of Oracle during the fourth quarter worth about $30,000. Finally, Hurley Capital LLC purchased a new stake in shares of Oracle during the fourth quarter worth about $33,000. 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.