Guggenheim Issues Positive Forecast for Oracle (NYSE:ORCL) Stock Price

Oracle (NYSE:ORCL) had its target price boosted by Guggenheim from $220.00 to $250.00 in a report published on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the enterprise software provider’s stock.

ORCL has been the topic of several other reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $195.00 target price (up from $145.00) on shares of Oracle in a report on Friday, June 13th. DA Davidson boosted their target price on shares of Oracle from $140.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $240.00 target price (up from $200.00) on shares of Oracle in a report on Thursday, June 12th. Piper Sandler reiterated a “neutral” rating and issued a $130.00 target price on shares of Oracle in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Oracle from $135.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, June 12th. Eleven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.74.

Oracle Stock Performance

ORCL opened at $210.63 on Wednesday. The firm has a market capitalization of $589.13 billion, a PE ratio of 48.53, a PEG ratio of 3.12 and a beta of 1.32. Oracle has a twelve month low of $118.86 and a twelve month high of $216.60. The firm’s 50-day moving average price is $157.39 and its 200 day moving average price is $161.16. The company has a current ratio of 0.75, a quick ratio of 1.02 and a debt-to-equity ratio of 4.07.

Oracle (NYSE:ORCL) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. Oracle’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 EPS. As a group, sell-side analysts expect that Oracle will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, July 10th. Oracle’s payout ratio is currently 46.08%.

Insider Buying and Selling

In other Oracle news, Director Naomi O. Seligman sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $145.81, for a total value of $291,620.00. Following the sale, the director now directly owns 34,630 shares of the company’s stock, valued at approximately $5,049,400.30. This represents a 5.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Leon E. Panetta sold 17,500 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 58,090 shares in the company, valued at approximately $8,785,531.60. This represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 427,366 shares of company stock valued at $80,183,723 in the last ninety days. Company insiders own 42.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Oracle by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider’s stock valued at $22,498,982,000 after buying an additional 3,513,464 shares during the last quarter. FMR LLC lifted its stake in shares of Oracle by 0.4% in the 4th quarter. FMR LLC now owns 38,002,902 shares of the enterprise software provider’s stock worth $6,332,803,000 after acquiring an additional 156,269 shares during the period. Geode Capital Management LLC increased its holdings in shares of Oracle by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 35,814,302 shares of the enterprise software provider’s stock valued at $5,954,961,000 after purchasing an additional 619,619 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Oracle by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 20,202,421 shares of the enterprise software provider’s stock valued at $3,366,531,000 after purchasing an additional 1,722,037 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Oracle by 0.6% in the 1st quarter. Northern Trust Corp now owns 19,741,423 shares of the enterprise software provider’s stock valued at $2,760,048,000 after purchasing an additional 120,889 shares in the last quarter. 42.44% of the stock is 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.