KeyCorp Boosts Oracle (NYSE:ORCL) Price Target to $175.00

Oracle (NYSE:ORCL) had its target price upped by KeyCorp from $165.00 to $175.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the enterprise software provider’s stock.

ORCL has been the topic of a number of other reports. Piper Sandler reiterated an overweight rating and set a $150.00 price objective on shares of Oracle in a research note on Friday, July 12th. Citigroup reduced their price target on Oracle from $133.00 to $128.00 and set a neutral rating for the company in a research report on Monday, June 10th. TD Cowen raised their price objective on Oracle from $145.00 to $165.00 and gave the company a buy rating in a research report on Wednesday, June 12th. UBS Group boosted their target price on shares of Oracle from $150.00 to $160.00 and gave the stock a buy rating in a report on Wednesday, June 12th. Finally, StockNews.com cut shares of Oracle from a buy rating to a hold rating in a report on Thursday, June 6th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $158.68.

Oracle Stock Up 2.7 %

Shares of NYSE:ORCL opened at $161.36 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 8.25. The business’s 50 day moving average is $139.50 and its 200 day moving average is $129.55. The stock has a market cap of $444.69 billion, a P/E ratio of 43.49, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01. Oracle has a 52-week low of $99.26 and a 52-week high of $162.34.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a return on equity of 223.01% and a net margin of 19.76%. The firm had revenue of $13.31 billion for the quarter, compared to analyst estimates of $13.23 billion. During the same quarter last year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts predict that Oracle will post 5.02 EPS for the current year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is currently 43.13%.

Insider Buying and Selling

In other Oracle news, Director Leon E. Panetta sold 15,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total value of $2,068,350.00. Following the sale, the director now directly owns 58,090 shares of the company’s stock, valued at $8,010,030.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Leon E. Panetta sold 15,000 shares of Oracle stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the transaction, the director now directly owns 58,090 shares in the company, valued at $8,010,030.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edward Screven sold 235,918 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the transaction, the insider now directly owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The disclosure for this sale can be found here. Insiders sold a total of 1,862,500 shares of company stock valued at $266,776,624 over the last 90 days. Insiders own 42.80% of the company’s stock.

Institutional Trading of Oracle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Contour Asset Management LLC boosted its stake in shares of Oracle by 41.5% during the 4th quarter. Contour Asset Management LLC now owns 2,192,950 shares of the enterprise software provider’s stock worth $231,203,000 after acquiring an additional 643,490 shares in the last quarter. Hancock Whitney Corp boosted its position in Oracle by 12.7% during the fourth quarter. Hancock Whitney Corp now owns 29,301 shares of the enterprise software provider’s stock worth $3,089,000 after purchasing an additional 3,291 shares in the last quarter. Heritage Wealth Advisors grew its holdings in Oracle by 0.6% in the fourth quarter. Heritage Wealth Advisors now owns 16,995 shares of the enterprise software provider’s stock valued at $1,792,000 after purchasing an additional 109 shares during the period. Seven Mile Advisory increased its position in shares of Oracle by 10.6% in the fourth quarter. Seven Mile Advisory now owns 5,236 shares of the enterprise software provider’s stock valued at $552,000 after buying an additional 502 shares in the last quarter. Finally, Goelzer Investment Management Inc. raised its stake in shares of Oracle by 25.0% during the 1st quarter. Goelzer Investment Management Inc. now owns 7,492 shares of the enterprise software provider’s stock worth $941,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 42.44% of the company’s stock.

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.