Oracle (NYSE:ORCL) Given New $375.00 Price Target at TD Cowen

Oracle (NYSE:ORCL) had its price target hoisted by TD Cowen from $325.00 to $375.00 in a research report report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the enterprise software provider’s stock.

Several other equities analysts have also weighed in on ORCL. Cantor Fitzgerald raised their target price on Oracle from $271.00 to $400.00 and gave the company an “overweight” rating in a report on Wednesday. JMP Securities raised their price target on Oracle from $315.00 to $342.00 and gave the company a “market outperform” rating in a research report on Wednesday. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Oracle in a research report on Wednesday, June 18th. Westpark Capital raised their price target on Oracle from $195.00 to $246.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Finally, Piper Sandler raised their price target on Oracle from $270.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Oracle presently has an average rating of “Moderate Buy” and a consensus price target of $291.23.

Oracle Price Performance

NYSE ORCL opened at $328.40 on Wednesday. Oracle has a fifty-two week low of $118.86 and a fifty-two week high of $345.72. The stock’s 50-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 current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $922.41 billion, a P/E ratio of 76.02, a price-to-earnings-growth ratio of 3.61 and a beta of 1.46.

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. Oracle had a return on equity of 80.42% and a net margin of 21.08%.The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period last year, the company earned $1.63 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. On average, analysts anticipate that Oracle will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. Oracle’s dividend payout ratio (DPR) is 46.08%.

Insider Buying and Selling at Oracle

In related news, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the sale, the executive vice president directly owned 40,807 shares of the company’s stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael D. Sicilia sold 15,880 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total value of $4,041,142.40. Following the completion of the sale, the insider owned 99,212 shares in the company, valued at approximately $25,247,469.76. This represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,183 shares of company stock valued at $10,353,198 over the last quarter. Company insiders own 42.20% of the company’s stock.

Hedge Funds Weigh In On Oracle

A number of hedge funds have recently modified their holdings of the stock. Snider Financial Group raised its holdings in shares of Oracle by 1.3% in the 2nd quarter. Snider Financial Group now owns 3,204 shares of the enterprise software provider’s stock worth $701,000 after buying an additional 40 shares in the last quarter. SNS Financial Group LLC raised its holdings in shares of Oracle by 0.9% in the 2nd quarter. SNS Financial Group LLC now owns 4,896 shares of the enterprise software provider’s stock worth $1,070,000 after buying an additional 42 shares in the last quarter. PKS Advisory Services LLC raised its holdings in shares of Oracle by 1.9% in the 2nd quarter. PKS Advisory Services LLC now owns 2,211 shares of the enterprise software provider’s stock worth $483,000 after buying an additional 42 shares in the last quarter. Reyes Financial Architecture Inc. boosted its holdings in shares of Oracle by 7.2% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 643 shares of the enterprise software provider’s stock worth $141,000 after acquiring an additional 43 shares in the last quarter. Finally, Creative Capital Management Investments LLC boosted its holdings in shares of Oracle by 5.7% in the 2nd quarter. Creative Capital Management Investments LLC now owns 798 shares of the enterprise software provider’s stock worth $174,000 after acquiring an additional 43 shares in the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

About Oracle

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.