Barclays Cuts Oracle (NYSE:ORCL) Price Target to $57.00

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Oracle (NYSE:ORCL) had its price objective trimmed by Barclays from $59.00 to $57.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the enterprise software provider’s stock.

Other equities research analysts have also issued reports about the company. Macquarie lowered Oracle from an outperform rating to a neutral rating and dropped their price target for the company from $56.00 to $55.00 in a research report on Tuesday, June 18th. They noted that the move was a valuation call. Wells Fargo & Co upped their price target on Oracle from $60.00 to $65.00 and gave the company an outperform rating in a research report on Thursday, June 20th. Raymond James upped their price target on Oracle from $57.00 to $61.00 and gave the company an outperform rating in a research report on Thursday, June 20th. Jefferies Financial Group upped their price target on Oracle from $61.00 to $66.00 and gave the company a buy rating in a research report on Thursday, June 20th. Finally, William Blair reissued a market perform rating on shares of Oracle in a research report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $55.88.

ORCL stock opened at $53.75 on Thursday. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 2.31. The firm has a market cap of $187.77 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.64 and a beta of 1.18. Oracle has a 12-month low of $42.40 and a 12-month high of $60.50. The stock’s 50 day simple moving average is $54.06 and its 200 day simple moving average is $54.46.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.09. The business had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.29 billion. Oracle had a return on equity of 45.61% and a net margin of 27.71%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. On average, research analysts forecast that Oracle will post 3.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, October 9th. Oracle’s dividend payout ratio is presently 30.38%.

In other Oracle news, Director Michael J. Boskin sold 150,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $56.65, for a total value of $8,497,500.00. Following the sale, the director now directly owns 134,796 shares of the company’s stock, valued at $7,636,193.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO W Corey West sold 50,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $56.25, for a total value of $2,812,500.00. Following the completion of the sale, the chief accounting officer now directly owns 85,348 shares in the company, valued at $4,800,825. The disclosure for this sale can be found here. Insiders sold 2,140,000 shares of company stock worth $117,501,425 over the last ninety days. 32.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of ORCL. Boenning & Scattergood Inc. increased its holdings in shares of Oracle by 119.3% during the first quarter. Boenning & Scattergood Inc. now owns 14,265 shares of the enterprise software provider’s stock valued at $766,000 after purchasing an additional 7,761 shares during the period. Hedeker Wealth LLC boosted its stake in Oracle by 5.4% during the first quarter. Hedeker Wealth LLC now owns 56,014 shares of the enterprise software provider’s stock valued at $2,694,000 after buying an additional 2,893 shares in the last quarter. Butensky & Cohen Financial Security Inc. boosted its stake in Oracle by 4.1% during the first quarter. Butensky & Cohen Financial Security Inc. now owns 42,830 shares of the enterprise software provider’s stock valued at $2,300,000 after buying an additional 1,680 shares in the last quarter. Horan Capital Advisors LLC. bought a new position in Oracle during the first quarter valued at about $83,000. Finally, First Personal Financial Services boosted its stake in Oracle by 0.9% during the first quarter. First Personal Financial Services now owns 90,022 shares of the enterprise software provider’s stock valued at $4,835,000 after buying an additional 846 shares in the last quarter. 53.05% of the stock is currently owned by institutional investors.

About Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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