Oracle (NYSE:ORCL) Price Target Raised to $240.00 at Citigroup

Oracle (NYSE:ORCL) had its target price raised by Citigroup from $196.00 to $240.00 in a research report sent to investors on Tuesday, Marketbeat Ratings reports. Citigroup currently has a neutral rating on the enterprise software provider’s stock.

Several other equities research analysts also recently commented on the stock. Westpark Capital upped their price target on shares of Oracle from $195.00 to $246.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Barclays upped their price target on shares of Oracle from $221.00 to $281.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank Of Canada upped their price target on shares of Oracle from $145.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, June 12th. CIBC reiterated a “buy” rating on shares of Oracle in a research report on Monday, June 9th. Finally, Bank of America increased their target price on shares of Oracle from $220.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.61.

Oracle Trading Up 1.3%

Shares of NYSE:ORCL opened at $241.67 on Tuesday. The stock has a market capitalization of $678.81 billion, a price-to-earnings ratio of 55.68, a PEG ratio of 3.56 and a beta of 1.46. Oracle has a 1-year low of $118.86 and a 1-year high of $260.87. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The company has a 50 day moving average price of $240.23 and a 200 day moving average price of $187.60.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. On average, research analysts anticipate that Oracle will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. Oracle’s dividend payout ratio (DPR) is 46.08%.

Insider Activity at Oracle

In related news, EVP Maria Smith sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the transaction, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the transaction, the insider owned 60,722 shares in the company, valued at $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 444,183 shares of company stock worth $86,521,198 over the last quarter. 42.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. NWF Advisory Services Inc. grew its stake in Oracle by 6.3% in the 2nd quarter. NWF Advisory Services Inc. now owns 2,596 shares of the enterprise software provider’s stock valued at $568,000 after buying an additional 153 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its stake in Oracle by 2.1% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 21,467 shares of the enterprise software provider’s stock valued at $4,693,000 after buying an additional 436 shares during the last quarter. American Trust acquired a new position in Oracle in the 2nd quarter valued at $319,000. PVG Asset Management Corp acquired a new position in Oracle in the 2nd quarter valued at $203,000. Finally, Total Investment Management Inc. acquired a new position in Oracle in the 2nd quarter valued at $71,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

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.