Oracle (NYSE:ORCL) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Oracle (NYSE:ORCL) issued its earnings results on Monday. The enterprise software provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04, MarketWatch Earnings reports. Oracle had a negative return on equity of 470.73% and a net margin of 17.02%. The firm had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.48 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. Oracle updated its Q2 guidance to $1.30-1.34 EPS.

Oracle Trading Up 0.3 %

ORCL traded up $0.39 on Monday, reaching $126.71. 17,952,756 shares of the company traded hands, compared to its average volume of 8,543,910. Oracle has a one year low of $60.78 and a one year high of $127.54. The firm has a fifty day simple moving average of $117.56 and a two-hundred day simple moving average of $105.70. The company has a market cap of $343.92 billion, a P/E ratio of 41.41, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 55.54.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Thursday, October 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.26%. Oracle’s payout ratio is 52.29%.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 1,320 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $116.78, for a total value of $154,149.60. Following the completion of the transaction, the executive vice president now directly owns 20,280 shares in the company, valued at $2,368,298.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Oracle news, EVP Maria Smith sold 1,320 shares of Oracle stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $116.78, for a total value of $154,149.60. Following the transaction, the executive vice president now directly owns 20,280 shares of the company’s stock, valued at $2,368,298.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward Screven sold 354,837 shares of Oracle stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $123.39, for a total transaction of $43,783,337.43. Following the completion of the transaction, the insider now directly owns 2,543,033 shares in the company, valued at $313,784,841.87. The disclosure for this sale can be found here. Insiders sold 4,175,443 shares of company stock worth $510,658,596 in the last 90 days. 43.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oracle

Several institutional investors have recently added to or reduced their stakes in ORCL. Norges Bank purchased a new stake in shares of Oracle in the 4th quarter valued at $1,409,896,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Oracle by 112,785.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,832,530 shares of the enterprise software provider’s stock valued at $885,451,000 after buying an additional 10,822,934 shares during the period. Morgan Stanley lifted its holdings in shares of Oracle by 9.6% in the 4th quarter. Morgan Stanley now owns 20,502,544 shares of the enterprise software provider’s stock valued at $1,675,878,000 after buying an additional 1,794,080 shares during the period. State Street Corp lifted its holdings in shares of Oracle by 2.6% in the 1st quarter. State Street Corp now owns 62,586,810 shares of the enterprise software provider’s stock valued at $5,815,566,000 after buying an additional 1,570,528 shares during the period. Finally, CI Private Wealth LLC acquired a new position in shares of Oracle in the 4th quarter valued at about $65,521,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ORCL. Stifel Nicolaus lifted their target price on Oracle from $84.00 to $120.00 in a report on Tuesday, June 13th. StockNews.com assumed coverage on shares of Oracle in a report on Thursday, August 17th. They issued a “hold” rating for the company. DA Davidson raised their target price on shares of Oracle from $85.00 to $115.00 in a report on Tuesday, June 13th. Piper Sandler reissued an “overweight” rating and issued a $130.00 target price on shares of Oracle in a report on Thursday, July 27th. Finally, Mizuho increased their price target on shares of Oracle from $116.00 to $150.00 in a report on Tuesday, June 13th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and an average price target of $123.11.

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.