Oracle (NYSE:ORCL) Price Target Raised to $360.00 at UBS Group

Oracle (NYSE:ORCL) had its price target hoisted by UBS Group from $280.00 to $360.00 in a research note issued to investors on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the enterprise software provider’s stock.

A number of other research firms have also weighed in on ORCL. Royal Bank Of Canada raised their target price on Oracle from $145.00 to $195.00 and gave the company a “sector perform” rating in a report on Thursday, June 12th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Oracle in a research report on Wednesday, June 18th. Mizuho increased their price target on Oracle from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler increased their price target on Oracle from $270.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Bank of America raised Oracle from a “neutral” rating to a “buy” rating and increased their price target for the company from $295.00 to $368.00 in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $291.23.

Oracle Stock Up 36.0%

ORCL stock opened at $328.40 on Wednesday. Oracle has a twelve month low of $118.86 and a twelve month high of $345.72. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The stock’s 50 day moving average is $242.19 and its 200-day moving average is $188.57. The firm has a market capitalization 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 posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter last year, the company earned $1.63 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts expect that Oracle will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

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

Insiders Place Their Bets

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the firm’s stock in a transaction on 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. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rona Alison Fairhead bought 480 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 22,110 shares of the company’s stock, valued at approximately $5,170,865.70. The trade was a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 44,183 shares of company stock valued at $10,353,198. Company insiders own 42.20% of the company’s stock.

Institutional Trading of Oracle

A number of large investors have recently bought and sold shares of ORCL. Vanguard Group Inc. boosted its holdings in shares of Oracle by 2.1% in the second quarter. Vanguard Group Inc. now owns 164,278,874 shares of the enterprise software provider’s stock worth $35,916,290,000 after acquiring an additional 3,353,461 shares during the period. State Street Corp boosted its holdings in shares of Oracle by 1.7% in the second quarter. State Street Corp now owns 73,459,391 shares of the enterprise software provider’s stock worth $16,060,427,000 after acquiring an additional 1,252,723 shares during the period. Northern Trust Corp boosted its holdings in shares of Oracle by 0.6% in the first quarter. Northern Trust Corp now owns 19,741,423 shares of the enterprise software provider’s stock worth $2,760,048,000 after acquiring an additional 120,889 shares during the period. Norges Bank bought a new position in shares of Oracle in the second quarter worth $4,275,378,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Oracle by 0.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,884,524 shares of the enterprise software provider’s stock worth $1,941,195,000 after acquiring an additional 59,164 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

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.