Oracle Corp. (NYSE:ORCL) was downgraded by Vetr from a "strong-buy" rating to a "buy" rating in a report released on Wednesday, MarketBeat.com reports. They currently have a $45.58 price target on the enterprise software provider's stock. Vetr's target price indicates a potential upside of 10.50% from the company's current price.
Other hedge funds have modified their holdings of the company. Mackenzie Financial Corp increased its stake in shares of Oracle Corp. by 5.2% in the fourth quarter. Mackenzie Financial Corp now owns 2,517,323 shares of the enterprise software provider's stock valued at $91,958,000 after buying an additional 125,524 shares in the last quarter. Mairs & Power INC increased its stake in shares of Oracle Corp. by 14.5% in the fourth quarter. Mairs & Power INC now owns 31,537 shares of the enterprise software provider's stock valued at $1,152,000 after buying an additional 4,000 shares in the last quarter. Bridgeway Capital Management Inc. increased its stake in shares of Oracle Corp. by 0.4% in the fourth quarter. Bridgeway Capital Management Inc. now owns 461,513 shares of the enterprise software provider's stock valued at $16,859,000 after buying an additional 1,940 shares in the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Oracle Corp. by 0.3% in the fourth quarter. Cetera Advisor Networks LLC now owns 53,143 shares of the enterprise software provider's stock valued at $2,383,000 after buying an additional 142 shares in the last quarter. Finally, Select Equity Group L.P. increased its stake in shares of Oracle Corp. by 8.9% in the fourth quarter. Select Equity Group L.P. now owns 620,049 shares of the enterprise software provider's stock valued at $22,650,000 after buying an additional 50,879 shares in the last quarter.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the company's stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $38.65, for a total value of $144,937.50. Following the sale, the director now owns 8,281 shares in the company, valued at approximately $320,060.65. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is accessible through this link. Also, EVP John F. Fowler sold 500,000 shares of the company's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $41.17, for a total value of $20,585,000.00. Following the completion of the sale, the executive vice president now owns 119,645 shares in the company, valued at approximately $4,925,784.65. The disclosure for this sale can be found here.
Several other analysts have also weighed in on ORCL. Zacks Investment Research lowered Oracle Corp. from a "hold" rating to a "sell" rating in a research note on Wednesday, May 18th. Evercore ISI raised Oracle Corp. from a "hold" rating to a "buy" rating in a research note on Wednesday, June 1st. JMP Securities reaffirmed a "sell" rating and issued a $31.00 price objective on shares of Oracle Corp. in a research note on Thursday, June 2nd. OTR Global raised Oracle Corp. to a "positive" rating in a research note on Friday, June 3rd. Finally, JP Morgan Chase reaffirmed an "underperform" rating on shares of Oracle Corp. in a research note on Monday, June 6th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have assigned a buy rating to the company. Oracle Corp. has an average rating of "Buy" and an average target price of $44.54.
Oracle opened at 41.25 on Wednesday, MarketBeat.com reports. Oracle Corp. has a 12 month low of $33.13 and a 12 month high of $42.00. The company has a 50 day moving average price of $41.15 and a 200 day moving average price of $40.15. The firm has a market capitalization of $170.06 billion and a price-to-earnings ratio of 19.93.
Oracle Corp. (NYSE:ORCL) last released its quarterly earnings data on Thursday, June 16th. The enterprise software provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by $0.01. The company earned $10.60 billion during the quarter. The firm's revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. Analysts anticipate that Oracle Corp. will post $2.77 earnings per share for the current fiscal year.
Oracle provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company's businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.