Oracle (NYSE:ORCL) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Oracle (NYSE:ORCL) announced its quarterly earnings results on Monday. The enterprise software provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06, Briefing.com reports. Oracle had a return on equity of 223.01% and a net margin of 19.76%. The business had revenue of $13.31 billion for the quarter, compared to analysts’ expectations of $13.23 billion. During the same period in the prior year, the firm earned $0.95 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Oracle updated its Q2 guidance to $1.45-1.49 EPS.

Oracle Trading Up 11.4 %

Shares of ORCL opened at $155.82 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 8.25. Oracle has a 1-year low of $99.26 and a 1-year high of $160.52. The stock has a market capitalization of $429.42 billion, a P/E ratio of 42.00, a P/E/G ratio of 2.56 and a beta of 1.01. The business’s 50-day moving average price is $138.90 and its 200 day moving average price is $129.13.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

Insider Buying and Selling at Oracle

In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of Oracle stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of Oracle stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the transaction, the chairman now owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction of $34,042,967.40. Following the transaction, the insider now directly owns 2,626,764 shares in the company, valued at $379,042,045.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,862,500 shares of company stock valued at $266,776,624. 42.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oracle

A number of hedge funds and other institutional investors have recently made changes to their positions in ORCL. International Assets Investment Management LLC increased its position in Oracle by 153.3% during the fourth quarter. International Assets Investment Management LLC now owns 11,947 shares of the enterprise software provider’s stock worth $1,260,000 after acquiring an additional 7,230 shares during the period. Brio Consultants LLC raised its position in shares of Oracle by 4.1% during the fourth quarter. Brio Consultants LLC now owns 2,942 shares of the enterprise software provider’s stock valued at $310,000 after buying an additional 117 shares during the last quarter. Precision Wealth Strategies LLC increased its stake in Oracle by 4.1% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,951 shares of the enterprise software provider’s stock valued at $417,000 after acquiring an additional 155 shares during the period. Gilbert & Cook Inc. acquired a new position in Oracle in the 4th quarter valued at approximately $359,000. Finally, Aveo Capital Partners LLC acquired a new stake in shares of Oracle during the 4th quarter worth approximately $290,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ORCL has been the subject of several analyst reports. UBS Group boosted their price target on shares of Oracle from $160.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Tuesday. Oppenheimer reaffirmed a “market perform” rating on shares of Oracle in a report on Tuesday. Piper Sandler boosted their price objective on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, JMP Securities upgraded Oracle from a “market perform” rating to an “outperform” rating and set a $175.00 target price on the stock in a research report on Tuesday. Twelve analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Oracle has a consensus rating of “Moderate Buy” and an average target price of $157.52.

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.