Oracle (NYSE:ORCL) Given New $175.00 Price Target at Bank of America

Oracle (NYSE:ORCL) had its price objective reduced by equities researchers at Bank of America from $195.00 to $175.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the enterprise software provider’s stock. Bank of America‘s target price points to a potential upside of 17.55% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Monness Crespi & Hardt raised shares of Oracle from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Cantor Fitzgerald lowered shares of Oracle to an “overweight” rating in a research note on Monday, February 10th. UBS Group raised their price objective on shares of Oracle from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. DA Davidson boosted their target price on Oracle from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group raised their price target on Oracle from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Eleven research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Oracle presently has an average rating of “Moderate Buy” and an average target price of $180.23.

Oracle Stock Down 4.1 %

Shares of NYSE ORCL opened at $148.87 on Tuesday. The business has a 50-day moving average price of $167.27 and a 200 day moving average price of $169.58. The stock has a market cap of $416.38 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle has a 52-week low of $111.18 and a 52-week high of $198.31.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.02). The business had revenue of $14.13 billion for the quarter, compared to analyst estimates of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. Oracle’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. Equities research analysts forecast that Oracle will post 5 earnings per share for the current year.

Insider Activity

In related news, CEO Safra Catz sold 2,101,154 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $185.35, for a total transaction of $389,448,893.90. Following the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $207,331,027.20. This trade represents a 65.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 42.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Oracle in the fourth quarter valued at $2,216,314,000. Raymond James Financial Inc. purchased a new stake in Oracle in the 4th quarter valued at about $930,095,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Oracle by 20.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider’s stock valued at $2,303,858,000 after acquiring an additional 2,350,448 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Oracle by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 157,411,949 shares of the enterprise software provider’s stock worth $26,231,127,000 after acquiring an additional 2,296,069 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of Oracle by 268.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,077,947 shares of the enterprise software provider’s stock worth $512,909,000 after acquiring an additional 2,242,520 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

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.