Oracle (NYSE:ORCL) Price Target Raised to $330.00 at Piper Sandler

Oracle (NYSE:ORCL) had its price objective boosted by Piper Sandler from $270.00 to $330.00 in a report released on Wednesday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the enterprise software provider’s stock.

ORCL has been the topic of several other research reports. Westpark Capital upped their price objective on Oracle from $195.00 to $246.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. KeyCorp increased their target price on Oracle from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, June 12th. Cowen reiterated a “buy” rating on shares of Oracle in a research report on Thursday, June 12th. Wolfe Research increased their target price on Oracle from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Stifel Nicolaus upgraded Oracle from a “hold” rating to a “buy” rating and increased their target price for the company from $180.00 to $250.00 in a research report on Monday, June 30th. Two 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. Based on data from MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and an average price target of $291.23.

Oracle Trading Up 36.0%

Oracle stock opened at $328.40 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle has a 12 month low of $118.86 and a 12 month high of $345.72. The stock’s 50 day simple moving average is $242.19 and its two-hundred day simple moving average is $188.57. The firm has a market cap of $922.41 billion, a PE ratio of 76.02, a P/E/G ratio of 3.61 and a beta of 1.46.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping 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 business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. Analysts anticipate that Oracle will post 5 earnings per share for the current year.

Oracle Dividend Announcement

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

Insider Transactions at Oracle

In other news, Director Rona Alison Fairhead acquired 480 shares of Oracle stock in a transaction that occurred on Monday, July 7th. The stock was purchased at an average cost of $233.87 per share, with a total value of $112,257.60. Following the purchase, the director owned 22,110 shares in the company, valued at $5,170,865.70. This trade represents a 2.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria Smith sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 44,183 shares of company stock worth $10,353,198 in the last quarter. 42.20% of the stock is owned by insiders.

Institutional Trading of Oracle

Hedge funds and other institutional investors have recently modified their holdings of the stock. Winnow Wealth LLC acquired a new stake in shares of Oracle in the 2nd quarter worth $28,000. Kilter Group LLC acquired a new stake in shares of Oracle in the 2nd quarter worth $30,000. LGT Financial Advisors LLC acquired a new stake in shares of Oracle in the 2nd quarter worth $33,000. Legend Financial Advisors Inc. purchased a new position in shares of Oracle during the 2nd quarter worth $34,000. Finally, HighMark Wealth Management LLC purchased a new position in shares of Oracle during the 2nd quarter worth $38,000. 42.44% of the stock is 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.