Oracle (NYSE:ORCL) Given New $350.00 Price Target at Scotiabank

Oracle (NYSE:ORCL) had its price target boosted by Scotiabank from $300.00 to $350.00 in a research report report published on Wednesday,Benzinga reports. They currently have a sector outperform rating on the enterprise software provider’s stock.

A number of other equities analysts have also recently weighed in on the company. Raymond James Financial reissued a “strong-buy” rating on shares of Oracle in a report on Wednesday, June 18th. JMP Securities boosted their price target on Oracle from $315.00 to $342.00 and gave the stock a “market outperform” rating in a report on Wednesday. Guggenheim boosted their price target on Oracle from $250.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets upped their target price on Oracle from $245.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Cantor Fitzgerald upped their target price on Oracle from $271.00 to $400.00 and gave the company an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.23.

Oracle Stock Up 36.0%

ORCL opened at $328.40 on Wednesday. Oracle has a one year low of $118.86 and a one year high of $345.72. The company has a market cap of $922.41 billion, a price-to-earnings ratio of 76.02, a PEG ratio of 3.61 and a beta of 1.46. The business’s fifty day moving average is $242.19 and its two-hundred day moving average is $188.57. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75.

Oracle (NYSE:ORCL) last released 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. Oracle had a return on equity of 80.42% and a net margin of 21.08%.The company had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts anticipate that Oracle will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, October 9th. This represents a $2.00 annualized dividend and a yield of 0.6%. Oracle’s dividend payout ratio is currently 46.08%.

Insider Activity at Oracle

In other news, Director Rona Alison Fairhead purchased 480 shares of the company’s stock in a transaction on Monday, July 7th. The stock was bought at an average cost of $233.87 per share, for a total transaction of $112,257.60. Following the completion of the purchase, the director directly owned 22,110 shares of the company’s stock, valued at $5,170,865.70. The trade was a 2.22% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Naomi O. Seligman sold 3,303 shares of the company’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the sale, the director directly owned 31,447 shares of the company’s stock, valued at $7,337,214.04. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,183 shares of company stock valued at $10,353,198 over the last three months. Insiders own 42.20% of the company’s stock.

Institutional Investors Weigh In On Oracle

Several institutional investors and hedge funds have recently modified their holdings of ORCL. Redmont Wealth Advisors LLC purchased a new stake in shares of Oracle in the first quarter worth about $27,000. Inlight Wealth Management LLC purchased a new stake in shares of Oracle in the first quarter worth about $28,000. Winnow Wealth LLC purchased a new stake in shares of Oracle in the second quarter worth about $28,000. Iron Horse Wealth Management LLC boosted its position in shares of Oracle by 284.9% in 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 during the period. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of Oracle in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

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.