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1Z0-479 Oracle Access Management Suite Plus 11g Essentials

Exam Title: Oracle Access Management Suite Plus 11g Essentials
Exam Number: 1Z0-479
Format: Multiple Choice
Duration: 120 minutes
Number of Questions: 70
Passing Score: 60%
Validated Against: This test has been validated against 11g Release 2.

Oracle Access Management Suite Plus fundamentals
- Describe challenges faced by customers in the area of Access Management
- Describe key features of Oracle Access Management Suite Plus
- Describe product components of Oracle Access Management Suite Plus
- Describe Oracle Access Management Suite Plus architecture

Oracle Access Management Access Manager
- Configure and administer Access Manager settings
- Configure and manage Data Stores
- Configure and manage Agents
- Configure policies and manage authentication to protect applications and resources
- Configure Detached Credential Collector

Oracle Access Management Identity Federation
- Configure Identity Provider
- Configure Service Provider
- Configure Authentication Engine as Directory
- Configure Authentication Scheme to a resource
- Configure Federation DataStore

Identity Context
- Describe Identity Context
- Configure Identity Context Service components

Oracle Entitlements Server
- Describe Authorizations, Oracle Entitlements Server overview and architecture
- Describe Policy modeling
- Configure Policy administration and management
- Manage Security Module and system configurations
- Configure and Manage Lifecycle Management for Applications and Policies

Oracle Access Management Access Manager
- Describe overall and runtime architecture for Access Manager
- Describe the Single Sign-on and Logout process
- Describe Session Management for Access Manager
- Describe Policy Model, Application Domain, Host Identifier and Resources
- Configure Authentication Methods (Basic Authorizations, x.509, LDAP, Kerberos)

Oracle Access Management Security Token Service
- Identify Propagation, Concepts and Usecases
- Configure templates, endpoint, and policies
- Configure partners and profiles

Oracle Access Management Mobile and Social
- Enable Mobile and Social interfaces in Access Management and configure them to access Oracle Adaptive Access Manager via WebLogic
- Configure applications for mobile single sign-on and enable Oracle Adaptive Access Manager security handler
- Configure user profile service provider
- Configure social login with social providers like Google
- Configure OAM domain to use mobile and social logins

Oracle Adaptive Access Manager
- Describe Oracle Adaptive Access Manager, its business case and capabilities
- Configure Policies - Static, Patterns and Predictive analysis
- Configure application transactions
- Configure basic integration with Access Manager
- Configure advanced integration with Access Manager using Trusted Authentication Protocol (TAP)
- Configure Knowledge Based Authentication (KBA) and One Time Password (OTP)
- Configure security handler for mobile application single sign-on

- Describe troubleshooting approaches
- Configure and set up High Availability
- Configure Test to Production (T 2P)
- Setup Enterprise Deployment
- Describe Tuning and Capacity Planning
- Migrate from Oracle Access Manager 10g, Oracle OpenSSO and Oracle SSO

Oracle Access Management Suite Plus 11g Essentials
Oracle Management guide
Killexams : Oracle Management guide - BingNews Search results Killexams : Oracle Management guide - BingNews Killexams : Oracle Certification Guide: Overview and Career Paths

Oracle offers a multitude of hardware and software solutions designed to simplify and empower IT. Perhaps best known for its premier database software, the company also offers cloud solutions, servers, engineered systems, storage and more. Oracle has more than 430,000 customers in 175 countries, about 138,000 employees and exceeds $37.7 billion in revenue.

Over the years, Oracle has developed an extensive certification program. Today, it includes six certification levels that span nine different categories with more than 200 individual credentials. Considering the depth and breadth of this program, and the number of Oracle customers, it’s no surprise that Oracle certifications are highly sought after.

[For more information read our Oracle CRM review, and our review of Oracle’s accounting suite.]

Oracle certification program overview

Oracle’s certification program is divided into these nine primary categories:

  • Oracle Applications
  • Oracle Cloud
  • Oracle Database
  • Oracle Enterprise Management
  • Oracle Industries
  • Oracle Java and Middleware
  • Oracle Operating Systems
  • Oracle Systems
  • Oracle Virtualization

Additionally, Oracle’s credentials are offered at six certification levels:

  • Junior Associate
  • Associate
  • Professional
  • Master
  • Expert
  • Specialist

Most Oracle certification exams are proctored, cost $245, and contain a mix of scored and unscored multiple-choice questions. Candidates may take proctored exams at Pearson VUE, although some exams are offered at Oracle Testing Centers in certain locations. Some exams, such as Oracle Database 12c: SQL Fundamentals (1Z0-061) and Oracle Database 11g: SQL Fundamentals (1Z0-051), are also available non-proctored and may be taken online. Non-proctored exams cost $125. Check the Oracle University Certification website for details on specific exams.

Oracle Applications and Cloud certifications

The Oracle Applications certification category offers more than 60 individual credentials across 13 products or product groups, such as Siebel, E-Business Suite, Hyperion, JD Edwards EnterpriseOne and PeopleSoft. The majority of these certifications confer Certified Implementation Specialist for some specific application, with various Certified Expert credentials also available. The Application certifications aim at individuals with expertise in selling and implementing specific Oracle solutions.

Oracle’s newest certification category is Oracle Cloud, which covers Java Cloud as well as a number of Oracle Cloud certifications, including Oracle Database Cloud. Cloud certs fall into seven sub-categories:

  • Infrastructure as a Service (IaaS)
  • Platform as a Service (PaaS), including Data Management, Application Development, Management Cloud and Mobile Cloud Service
  • Software as a Service (SaaS) – Oracle Customer Experience Cloud, including Service, Sales, Marketing and CPQ Cloud
  • Software as a Service (SaaS) – Oracle Customer Experience Cloud, including Service, Sales, Marketing, CPQ Cloud, and the rest of their CRM software offering

  • Software as a Services – Oracle Enterprise Resource Planning Cloud, including Financials, Project Portfolio Management, Procurement and Risk Management Cloud

  • Software as a Service – Oracle Human Capital Management Cloud, including Workforce Rewards, Payroll, Talent Management and Global Human Resources Cloud
  • Software as a Service – Oracle Supply Chain Management Cloud, including Order Management, Product Master Data Management, Product Lifecycle Management, Manufacturing, Inventory Management, Supply Chain Planning and Logistics Cloud

These credentials recognize individuals who deploy applications, perform administration or deliver customer solutions in the cloud. Credentials mostly include Associate and Certification Implementation Specialists, with one Mobile Developer credential offered plus a professional-level Oracle Database Cloud Administrator.

Oracle Database certifications

Certifications in Oracle’s Database category are geared toward individuals who develop or work with Oracle databases. There are three main categories: Database Application Development, MySQL and Oracle Database.

Note: Oracle Database 12c was redesigned for cloud computing (and is included in both the Cloud and Database certification categories). The current version is Oracle Database 12c R2, which contains additional enhancements for in-memory databases and multitenant architectures. MySQL 5.6 has been optimized for performance and storage, so it can handle bigger data sets.

Whenever a significant version of either database is released, Oracle updates its certifications exams over time. If an test isn’t available for the latest release, candidates can take a previous version of the test and then an updated test when it becomes available. Though MySQL 5.6 certifications and exams are still available for candidates supporting that version, the new MySQL 5.7 certification track may be more appropriate for those just starting on their MySQL certification journeys.

Oracle currently offers the Oracle Database Foundations Certified Junior Associate, Oracle Certified Associate (OCA), Oracle Certified Professional (OCP), Oracle Certified Master (OCM), Oracle Certified Expert (OCE) and Specialist paths for Oracle Database 12c. In addition, Oracle offers the OCA credential for Oracle Database 12c R2 and an upgrade path for the OCP credential. Because many of these certifications are also popular within the Oracle Certification Program, we provide additional test details and links in the following sections.

Other database certifications

Oracle Enterprise Management Certifications

The Oracle Enterprise Manager Certification path offers candidates the opportunity to demonstrate their skills in application, middleware, database and storage management. The Oracle Enterprise Manager 12c Certified Implementation Specialist test (1Z0-457) certifies a candidate’s expertise in physical, virtual and cloud environments, as well as design, installation, implementation, reporting, and support of Oracle Enterprise Manager.

Oracle Database Foundations Certified Junior Associate

The Oracle Database Foundation Certified Junior Associate credential targets those who’ve participated in the Oracle Academy through a college or university program, computer science and database teachers, and individuals studying databases and computer science. As a novice-level credential, the Certified Junior Associate is intended for individuals with limited hands-on experience working on Oracle Database products. To earn this credential, candidates must pass the Oracle Database Foundations (novice-level exam) (1Z0-006).

Oracle Certified Associate (OCA) – Oracle Database 12c Administrator

The OCA certification measures the day-to-day operational management database skills of DBAs. Candidates must pass a SQL test and another on Oracle Database administration. Candidates can choose one of the following SQL exams:

  • Oracle Database 12c SQL (1Z0-071)
  • Oracle Database 12c: SQL Fundamentals (1Z0-061) NOTE: This test will be retired on November 30, 2019.

Candidates must also pass the Oracle Database 12c: Installation and Administration (1Z0-062) exam.

Oracle Certified Associate – Oracle Database 12cR2 Administrator

To earn the Oracle Database 12cR2 OCA credential, candidates must first earn either the Oracle Database SQL Certified Associate, Oracle Database 11g Administrator Certified Associate, or the Oracle Database 12c Administrator Certified Associate.  In addition, candidates are required to pass the Oracle Database 12cR2 Administration test (1Z0-072).

Oracle Certified Professional (OCP) – Oracle Database 12c Administrator

The OCP certification covers more advanced database skills. You must have the OCA Database 12c Administrator certification, complete the required training, submit a course submission form and pass the Oracle Database 12c: Advanced Administration (1Z0-063) exam.

Professionals who possess either the Oracle Database 11g Administrator Certified Professional or Oracle Database 12c Administrator Certified Professional credential may upgrade to the Oracle Database 12cR2 Administration Certified Professional credential by passing the Oracle DBA upgrade test (1Z0-074).

Oracle Certified Master (OCM) – Oracle Database 12c Administrator

To achieve OCM Database 12c Administrator certification, you must have the OCP Database 12c Administrator certification, complete two advanced courses, and pass the Oracle Database 12c Certified Master test (12cOCM), complete the course submission form, and submit the Fulfillment Kit request.

Oracle also offers the Oracle Database 12c Maximum Availability Certified Master certification, which requires three separate credentials, including the Oracle Database 12c Administrator Certified Master, Oracle Certified Expert, Oracle Database 12c-RAC and Grid Infrastructure Administration, and Oracle Certified Expert, Oracle Database 12c – Data Guard Administration.

Oracle Certified Expert (OCE) – Oracle Database 12c

The OCE Database 12c certifications include Maximum Availability, Data Guard Administrator, RAC and Grid Infrastructure Administrator, and Performance Management and Tuning credentials. All these certifications involve prerequisite certifications. Performance Management and Tuning takes the OSP Database 12c as a prerequisite and the Data Guard Administrator certification requires the OCP Database 12c credential. The RAC and Grid Infrastructure Administrator provides candidates the most flexibility, allowing candidates to choose from the OCP Database 11g, OCP Databases 12c, Oracle Certified Expert – Real Application Clusters 11g and Grid Infrastructure Administration.

Once the prerequisite credentials are earned, candidates can then achieve Data Guard Administrator, RAC and Grid Infrastructure Administrator or Performance Management and Tuning by passing one exam. Achieving OCP 12c plus the RAC and Grid Infrastructure Administration and Data Guard Administration certifications earns the Maximum Availability credential.

Oracle Database Certified Implementation Specialist

Oracle also offers three Certified Implementation Specialist credentials: the Oracle Real Application Clusters 12c, Oracle Database Performance and Tuning 2015, and Oracle Database 12c. Specialist credentials target individuals with a background in selling and implementing Oracle solutions. Each of these credentials requires candidates to pass a single test to earn the designation.

Oracle Industries certifications

Oracle Industries is another sizable category, with more than 25 individual certifications focused on Oracle software for the construction and engineering, communications, health sciences, insurance, tax and utilities industries. All these certifications recognize Certified Implementation specialists for the various Oracle industry products, which means they identify individuals proficient in implementing and selling industry-specific Oracle software.

Oracle Java and Middleware Certifications

The Java and Middleware certifications span several subcategories, such as Business Intelligence, Application Server, Cloud Application, Data Integration, Identity Management, Mobile, Java, Oracle Fusion Middleware Development Tools and more. Java and Middleware credentials represent all levels of the Oracle Certification Program – Associate, Professional and so on – and include Java Developer, Java Programmer, System Administrator, Architect and Implementation Specialist.

The highly popular Java category has certifications for Java SE (Standard Edition), and Java EE (Enterprise Edition) and Web Services. Several Java certifications that require a prior certification accept either the corresponding Sun or Oracle credential.

Oracle Operating Systems certifications

The Oracle Operating Systems certifications include Linux and Solaris. These certifications are geared toward administrators and implementation specialists.

The Linux 6 certifications include OCA and OCP Linux 6 System Administrator certifications, as well as an Oracle Linux Certified Implementation Specialist certification. The Linux 6 Specialist is geared to partners but is open to all candidates. Both the Linux OCA and Specialist credentials require a single exam. To achieve the OCP, candidates must first earn either the OCA Linux 5 or 6 System Administrator or OCA Linux Administrator (now retired) credential, plus pass an exam.

The Solaris 11 certifications include the OCA and OCP System Administrator certifications plus an Oracle Solaris 11 Installation and Configuration Certified Implementation Specialist certification. The OCA and OCP Solaris 11 System Administrator certifications identify Oracle Solaris 11 administrators who have a fundamental knowledge of and base-level skills with the UNIX operating system, commands, and utilities. As indicated by its name, the Implementation Specialist cert identifies intermediate-level implementation team members who install and configure Oracle Solaris 11.

Oracle Systems certifications

Oracle Systems certifications include Engineered Systems (Big Data Appliance, Exadata, Exalogic Elastic Cloud, Exalytics, and Private Cloud Appliance), Servers (Fujitsu and SPARC) and Storage (Oracle ZFS, Pillar Axiom, Tape Storage, Flash Storage System). Most of these certifications aim at individuals who sell and implement one of the specific solutions. The Exadata certification subcategory also includes Oracle Exadata X3, X4 and X5 Expert Administrator certifications for individuals who administer, configure, patch, and monitor the Oracle Exadata Database Machine platform.

Oracle Virtualization certifications

The Virtualization certifications cover Oracle Virtual Machine (VM) Server for X86. This credential is based on Oracle VM 3.0 for X86, and recognizes individuals who sell and implement Oracle VM solutions.

The Oracle VM 3.0 for x86 Certified Implementation Specialist Certification aim at intermediate-level team members proficient in installing OVM 3.0 Server and OVM 3.0 Manager components, discovering OVM Servers, configuring network and storage repositories and more.

The sheer breadth and depth of Oracle’s certification program creates ample opportunities for professionals who want to work with Oracle technologies, or who already do and want their skills recognized and validated. Although there are many specific Oracle products in which to specialize in varying capacities, the main job roles include administrators, architects, programmers/developers and implementation specialists.

Every company that runs Oracle Database, Oracle Cloud, or Oracle Linux or Solaris needs qualified administrators to deploy, maintain, monitor and troubleshoot these solutions. These same companies also need architects to plan and design solutions that meet business needs and are appropriate for the specific environments in which they’re deployed, indicating that the opportunities for career advancement in Oracle technologies are abundant.

Job listings and hiring data indicate that programmers and developers continue to be highly sought-after in the IT world. Programming and development skills are some of the most sought-after by hiring managers in 2019, and database administration isn’t far behind. A quick search on Indeed results in almost 12,000 hits for “Oracle developer,” which is a great indication of both need and opportunity. Not only do developers create and modify Oracle software, they often must know how to design software from the ground up, package products, import data, write scripts and develop reports.

And, of course, Oracle and its partners will always need implementation specialists to sell and deploy the company’s solutions. This role is typically responsible for tasks that must be successfully accomplished to get a solution up and running in a client’s environment, from creating a project plan and schedule, to configuring and customizing a system to match client specifications.

Oracle training and resources

It’s not surprising that Oracle has an extensive library of test preparation materials. Check the Oracle University website ( for hands-on instructor-led training, virtual courses, training on demand, test preparation seminars, practice exams and other training resources.

A candidate’s best bet, however, is to first choose a certification path and then follow the links on the Oracle website to the required exam(s). If training is recommended or additional resources are available for a particular exam, Oracle lists them on the test page.

Another great resource is the Oracle Learning Paths webpage, which provides a lengthy list of Oracle product-related job roles and their recommended courses.

Ed Tittel
Ed is a 30-year-plus veteran of the computing industry. He has worked as a programmer, technical manager, classroom instructor, network consultant and a technical evangelist for companies that include Burroughs, Schlumberger, Novell, IBM/Tivoli and NetQoS. He has written for numerous publications, including Tom’s IT Pro, and is the author of more than 140 computing books on information security, web markup languages and development tools, and Windows operating systems.

Earl Follis
Earl is also a 30-year veteran of the computer industry, who worked in IT training, marketing, technical evangelism, and market analysis in the areas of networking and systems technology and management. Ed and Earl met in the late 1980s when Ed hired Earl as a trainer at an Austin-area networking company that’s now part of HP. The two of them have written numerous books together on NetWare, Windows Server and other topics. Earl is also a regular writer for the computer trade press with many e-books, white papers and articles to his credit.

Tue, 28 Jun 2022 12:00:00 -0500 en text/html
Killexams : How Cloud Transformation Is Fueling HR Success

The intersection of talent management and technology is top of mind for human resources (HR) leaders and chief information officers (CIOs) alike. Talent leaders know technology — and cloud transformation in particular — can help them address their most pressing challenges: winning the war for talent, enhancing data analytics for HR teams and the business, modernizing HR, managing remote and hybrid work, and more.

Companies are likely to get the best results when CIOs work alongside CHROs to make the most of the technology already in place while looking for ways to streamline and automate processes. Knowing where HR leaders are successful and collaborating on ways to Strengthen can guide tech leaders as they engage with talent teams to advance the use of technology in the HR function.

Human capital leaders recognize the power of cloud solutions to transform the ways employees work, according to our PwC US Cloud Business Survey. More than half (55%) say the biggest potential impact of cloud on their business would be changes to processes and ways of working.

A recent PwC HR tech survey also highlighted concrete steps talent leaders can take to further capitalize on cloud transformation and other tech investments. In particular, the survey revealed that technology is a factor in three major areas of concern for HR leaders: developing and retaining talent, managing remote and hybrid work and ensuring that tech investments truly pay off.

Moving HR to the cloud helps talent leaders get out in front of these concerns, with those who have done so reporting overwhelmingly that employee satisfaction and productivity have increased after the cloud transformation. PwC and Oracle have collaborated to help a number of clients transform HR by moving core functions to the cloud. The results are often dramatic. After transitioning its HR function to an Oracle cloud platform, a large healthcare organization reported expected savings of millions of dollars over five years. The cloud-based HR system replaced 40 separate systems with a single, unified human capital management system. Almost all (95%) of the organization’s policies and procedures were standardized across nearly a dozen regions and more than 1,000 sites. Employees can now take care of most HR-related tasks with self-service anytime/anywhere/any device access.

Can you attract and retain talent over the long haul?

Rather than looking at the Great Resignation as a threat to business success, some talent leaders are choosing instead to examine the reasons employees are leaving their jobs so they can encourage high-performing employees to stay on to build on their skills and expertise — and contribute to the company’s success. Further, they are focusing on their recruiting and candidate experience so they can hire some of the talent leaving competitor organizations.

A Pew Research Center survey found the top three reasons Americans quit jobs last year were low pay, lack of advancement opportunities and feeling disrespected at work. Many of those folks found new jobs, and said they’re earning more money and have better advancement opportunities. Along similar lines, a global Oracle survey found that 85% of employees report dissatisfaction with their employer’s support of their careers.

While increasing everyone’s salary may not be feasible, companies can do more to better support employees in not only doing their jobs more effectively, but also deepening their expertise and advancing their careers. Oftentimes employees will trade higher pay for a chance to learn new, marketable skills.

In the near future, employees will likely be able to work on projects or tasks that they have the skills for and interest in rather than being limited by their job code. Employees expect flexibility to scale up or down in how many hours and where they work.

The learning platform in Oracle’s Human Capital Management suite can help employees develop new skills, review relevant learning recommendations, take courses when it’s convenient and help determine the next steps in their careers. For HR professionals who want to fill specific roles, technology can help pinpoint skills gaps among current employees, identify skills that should be developed and offer the learning opportunities employees want.

Upskilling is the tip of the iceberg when it comes to providing a rich employee experience. The Oracle survey noted earlier found that 88% of workers define success as having better work-life balance, being in good mental health and having flexibility at work.

Leading organizations are reimagining the employee experience to focus on enhanced well-being, learning and development, flexibility, and more choice in where, how and what to work on.

Do employees have the right tools for success?

A key to productivity for many employees today is the ability to do their jobs remotely or on-site on a flexible schedule.

Implement new methods. Our PwC HR tech survey found that 95% of HR leaders have either implemented new methods to track and report on productivity and performance metrics for remote workers or plan to do so. In our experience, some of the best remote work scenarios give employees the freedom to do their jobs when and where they wish while measuring results and engagement without an overly intrusive approach that could erode employee trust. Perhaps that’s one reason 24% of respondents listed the rise of remote or hybrid work as a top HR challenge.

Boost employee engagement through technology. Employee engagement and a positive experience are critical ingredients in boosting productivity and retention. People are less likely to jump ship if they’re interested — and invested — in their work, feel equipped to do their jobs well and are given opportunities to expand skills. Technology plays a critical role in talent development and upskilling. These solutions allow employees to enter information about the skills they have, what they aspire to do and the roles they’re interested in. The apps can direct them to appropriate training content and let them track their progress, apply new skills and, when appropriate, share the results with their managers.

These solutions also make tracking employee productivity and skill-building a relatively simple undertaking. One approach that may help company leaders get a read on employee productivity and strengthen trust between employers and remote workers is to track and evaluate data that looks at overall employee performance rather than monitoring individual behaviors.

It’s usually less effective, for example, to attach too much importance to how often remote workers log in. That may encourage “gaming the system” or spending too much time online doing busy work. Instead, measure the quantity and quality of their output, focusing on desired outcomes. It may make more sense to track how often remote workers interact with others, whether through online collaboration tools or conference calls. Results may indicate disengagement and the need for check-ins or more frequent in-person meetings. Also consider tracking overall productivity for remote workers compared to on-site employees to guide possible changes in remote work policies or ways team leaders can stay connected to the people they supervise.

Identify digital upskilling opportunities. Gamification can be an effective way to encourage employees to participate in digital upskilling opportunities. This can include incentives for using training resources by providing mobile capabilities to “play” anytime and anywhere. You can also reward employee adoption with spot bonuses, time off, company-branded gear, professional development opportunities or other perks.

Are you getting the most out of HR tech investments?

Many companies have reaped the benefits afforded by a move from legacy HR systems to cloud-based solutions. In PwC’s HR tech survey, the benefits talent leaders cited include increased employee use of the technology, a finer degree of control for HR teams and a host of other positive outcomes.

Benefits of core HR on cloud

The HR cloud migration journey is not always smooth sailing. A little more than one-third (36%) of HR tech survey respondents cited cloud migration as a top challenge. That’s why it’s critical to address common cloud challenges early — particularly issues around security or cloud skills among team members. About one-fifth (21%) of HR leaders cited concerns over the security of critical HR data stored on the cloud as a top technology challenge.

Robust cloud-based HCM platforms — combined with updated policies and processes — enable companies to address these challenges. Cloud migration can help ease the way for HR functions to implement other technologies, such as automation, AI, the internet of things, blockchain and virtual reality.

CIOs can help talent leaders assess current operations to identify and quantify top opportunities for gains in efficiency, quality and productivity. Once the top opportunities are identified, proofs of concept can help not only to build skills and confidence, but also to provide results that can help gain buy-in from cross-functional leaders. As in any tech trial, tracking and measuring results are critical. Additionally, you can get ahead of potential issues with tech vendors by assessing vendors across multiple dimensions and taking a long-term view.

HR has historically been a technology first mover, leading on cloud/SaaS deployments for talent management and recruiting. HR can be a leader again with today’s disruptive technologies — if you make a strong business case and move gradually, consistently producing results that demonstrate the need for further investment.

Learn more about how PwC and Oracle are helping clients with HR transformation.

Thu, 14 Jul 2022 07:21:00 -0500 Sheryl Johnson en text/html
Killexams : Oracle: A GARP Name For This Very Perilous Market
Oracle To Report Quarterly Earnings

Justin Sullivan/Getty Images News

Oracle: It has reached an inflection point

Oracle (NYSE:ORCL) hasn’t been the best loved or best performing software investment for many years. The company’s transition to the cloud has been long, arduous, and probably has not achieved the results for which investors were hoping when it got started. Over the past decade - that’s right, decade- Oracle revenue has risen by just 7% and most of that came from the growth of the last three reported quarters. Operating cash flow was $13.7 billion 10 years ago, and contracted to less than $10 billion in the latest fiscal year (That contraction was basically a function of acquisition expenses, mainly related to the purchase of Cerner which closed just beyond the end of the fiscal year. Excluding the cash expenses of the transaction that Oracle incurred, Oracle’s cash generation actually grew slightly last year). Overall, non-GAAP operating income of $19.6 billion last year was marginally higher than the prior year, and was up by 44% over the past decade. Oracle shares have more than doubled in the past decade, although they have fallen by 35% since their high point in December of 2021.

Oracle has been about to turn the corner for years, but for every corner turned, there have been pitfalls and detours that have prevented the journey to any kind of sun-filled upland. Simply put, many of its plans and strategies have simply not come to fruition… until now. Most readers are well aware of what has happened to the valuation of high growth IT shares-and even IT companies with far more modest growth and valuation. There are some, and I acknowledge I am in this camp, who believe that the valuation carnage has created an existential opportunity. Oracle, even after what I believe to be a highly visible inflection point, doesn’t have the multi-hundred percent appreciation potential of the road kill in the IT space. On the other hand, Oracle’s constant currency, organic revenue growth reached 10% last quarter, compared to 7% the prior quarter, and just 4% growth at the start of the fiscal year. The prior fiscal year had experienced constant currency growth of 2%, so the growth acceleration is quite substantial for a mature company such as this.

What Oracle does have is a reasonable dividend yield (about 1.9%), a very substantial free cash flow margin, and now the reasonable potential of sustained double digit growth. Not 30% growth or 20% growth, but growth in the double digit range, in combination with very high and probably slightly growing operating margins. And the shares really haven’t reacted significantly to the growth accelerating the company has just announced. Overall, Oracle shares have fallen about 35% since the high they reached after the company’s Q2 earnings release last December. The shares had reached a low of $64 just prior to the earnings release, and while they rose 10% on the day after the earnings, release, they have backed down again, and stood just 6% above their low for the year at the market close on 6/23.

Oracle shares aren’t the kind of investment I typically recommend. For many years now, I have always looked for growth and share gains and a winning strategy. Oracle has been defending its turf, and it has certainly not been a share gainer. Some of its strategies have taken a very long time to reach fruition; some have simply not paid off in terms of achieving durable double digit growth. Investing in IT is a perilous undertaking, at best, and after having invested in and commented on IT companies for literally decades, I am more disposed to look for growth even when I have to pay what might seem as an elevated valuation to do so. But while I might be slightly, although by no means wholly, inured to the volatility and the potential drawdowns seen these last 8 months, this period in the market has been as difficult as any similar period I have ever experienced. While the circumstances of this crash are quite different than the last two or three through which I have lived, the results are reasonably similar. And so I have come to reconsider Oracle as an investment.

Oracle shares are highly unlikely to have the greatest potential percentage appreciation in the IT space. On the other hand, I think the combination of rising growth, and conspicuously elevated operating margins have left the shares undervalued, even on a relative basis, and that many readers will find the combination of reasonable growth, and great profitability and visibility to be attractive in this perilous market for high growth IT names. Oracle, for the most part, has ceased to be a share donor (it is still, and will likely continue to lose share overall in the database space), and while it is never going to have the market dominance it once enjoyed in the relational database world, it is not going to be excluded from some of the opportunities, both in the cloud infrastructure and cloud application space. And that is good enough, I believe to make recommending the shares a reasonable judgement despite the company’s checkered history of over-promising and under-delivering.

Reviewing Oracle’s recent quarter and its outlook

Oracle reported the results of its fiscal Q4 on June 13th. Revenues rose by 5% as reported, 10% on a constant currency basis. Its cloud revenues rose by 19%. Non-GAAP operating income rose 3% as reported and 7% in constant currency. While these numbers may not seem all that exciting, in fact, the constant currency organic growth of 10%, was a couple of percent above the previous forecast, and the highest rate of constant currency organic growth the company has reported since 2011.

The company’s EPS for the quarter of $1.54 was $.20 above guidance. Part of this beat was because Oracle’s income tax expense this past quarter was only 10%; the EPS guide had assumed a non GAAP tax rate of 19%. That tax rate difference accounted for about half of the headline earnings upside. The company’s non-GAAP operating margin for the quarter was 47% a bit lower than that reported for the prior year, but certainly at a high level. The decline in year on year operating margins was essentially a function of a 16% year on year, constant currency increase in research and development expense. It has been many years since Oracle has ramped research and development spending at that kind of rate and as will be detailed later in this article some of its innovation is starting to bear fruit. For better or worse, the senior management of Oracle has made a rather significant bet on its strategy that can have long-term positive business consequences.

Oracle had a much stronger data base quarter than has been the case for years now. Of course Oracle competes with MongoDB (MDB) these days as well as a host of what might be described as ankle-biters, and Mongo as well as the ankle biters win a substantial number of competitive engagements-in particular, Mongo’s Atlas offering provides both developers and users with superior noSQL functionality. And, equally, the large cloud companies all offer their own data base products, which have drained market share from Oracle for the last several years. Further, a company such as Snowflake (SNOW) while not often considered a direct Oracle competitor, is certainly a beneficiary of some of the stronger trends in cloud data warehousing. But this quarter, although not specifically reported, Salesforce (CRM), an Oracle data base customer for many years, apparently renewed/expanded its usage of Oracle’s database. So, too, did other significant enterprise software companies who use Oracle as their database platform. Quite surprisingly, therefore, total license revenues rose by 25% year on year.

Of course these kinds of transactions and that kind of growth are not to be expected every quarter, but the rumors that Salesforce was going to leave the Oracle platform have not turned out to be accurate and the company’s database market share within the application cloud vendors has remained far stronger than many observers have felt would be likely. While the company’s data base revenue have remained stronger than expected, its infrastructure software revenue rose, and in particular, what Oracle calls infrastructure cloud services grew 49% and the autonomous data base, showing a bit of life, saw a 29% increase in revenues.

Oracle is obviously not in the same league as the “cloud titans” which consist of AWS (AMZN), GCP (GOOG) and Microsoft’s (MSFT) Azure when it comes to providing public cloud infrastructure. Most of its cloud infrastructure customers are users of the company’s portfolio of apps. I don’t anticipate that Oracle will ever achieve the kind of revenues from its infrastructure offerings as the cloud titans are enjoying, but I expect that the company’s IaaS offering will be one factor in keeping Oracle’s revenue growth in double digits. In this last quarter, Oracle’s cloud consumption revenues grew by 83% year on year.

Oracle also enjoyed a particularly strong quarter in terms of its Apps bookings. Specifically, the company’s cloud application software revenues (Fusion ERP) rose by 24%. In particularly, NetSuite ERP revenues grew by 30%, which has to be considered a significant surprise. The company’s traditional apps business continues to decline; that said, the cloud component of the apps business has now crossed 50% of the revenues from that segment which should enable the Oracle to continue to achieve double digit growth for its ERP offerings for some years to come.

I like to look at RPO balances as providing the best insight in terms of the growth of a company’s sales. The Oracle’s RPO balance grew 17% year on year, after absorbing some impact from FX. This is indicative of a very strong bookings quarter, which does include the tailwind from what was apparently the significant booking made by Salesforce.

What’s Oracle’s Outlook/How will a recessionary climate impact its growth?

These days, the top issue on the minds of investors relates to how a particular company might fare in what many assume is an impending recession. It is hard to look at any kind of business streaming news service without seeing another prognostication of the probability of a recession. Given all the technology and all the individuals involved in making such forecasts, anything I might write on the subject would be superfluous and just opinion, not substantiated by quantitative models.

The consensus forecasts from the economics community seems to be that Fed tightening has about a 50% chance of tipping the economy into a recession. The further consensus seems to be that a recession will be of brief duration and mild.

How does Oracle stack up in that environment? The specifics of management guidance, after adjusting for the impact of the just completed Cerner merger seem to imply that its adjusted percentage growth rate might slacken in this current quarter, although it is difficult to triangulate the exact forecast because of not knowing how much conservatism has been baked into the contribution from Cerner. The CEO, on the call, however, talked about accelerating adjusted organic growth, and the facts as presented seem to substantiate that kind of forecast-specifically the strong growth in the company's RPO balance.

Specifically, the company forecast that the organic growth of its cloud business will accelerate from 22% in the year just reported, to more than 30% in the current year. The company’s cloud revenues were about $2.5 billion last quarter, and are now 21% of total revenues. So, the organic, currency adjusted revenues growth from the cloud will produce 700-800 basis points of growth at the company’s forecast levels in the current fiscal year.

The company hasn’t explicitly provided a forecast for the full year of fiscal ’23; its forecast for Q1 is for reported revenues to reach about $11.5 billion. Cerner’s revenue run-rate had been a little bit greater than $1.4 billion/quarter. So, the organic growth rate that Oracle is forecasting is about 4%, net of a 400 basis point FX head wind, and about a 100 basis point headwind for the end of the company’s operations in Russia. The estimate is probably conservative, as the company CEO said that she had added conservatism to the Cerner revenue outlook because of acquisition related friction.

The analyst consensus is basically congruent with guidance. The 1st Call revenue consensus for the year is published at $48 billion+ but that includes a couple of analysts who have not updated their forecasts and thus haven't included the contribution from Cerner. The “real” consensus is probably about $49 billion+ which implies organic growth adjusted for currency impacts, and the end of the company’s business in Russia of about 8%. That is almost certainly a hyper-conservative set of expectations. Based on the company’s business momentum, and the investments the company is making in its business, I would be surprised to see adjusted organic growth of less than 10% next year, and some further acceleration beyond as some of the revenue synergies that are likely to be achieved through the merger with Cerner are realized.

The further questions that I think need discussion is how will this be possible in a recessionary climate and with the plethora of competitors the company faces. Reaccelerating to 10%+ organic growth after years of not having much growth at all is a considerable inflection, especially given the size of this company, its market share, and the competitive environment in the enterprise software space.

Oracle runs much shorter conference calls than most other software companies. That has been the case for many years, and remains so. And thus, company commentary addressing the issues above is a bit sparse:

So my question is, Safra, Larry, can you give us more color on what's driving that reacceleration in license revenue in particular? Even as cloud revenue inflected to its highest growth rate in more than 4 years, is this BYOL bringing the heat? Is this autonomous database getting big enough and growing fast enough to lift the overall number, et cetera. And is this the broad-based demand that you mentioned on the Q3 call? Or is this more big deal driven?

Safra Catz

So it's a little of both. You see, first of all, large enterprises understand that having an unlimited agreement for some period of time, an unlimited agreement gives them unbelievable flexibility. Any large customer, large database user that does not have an unlimited agreement with us is really not optimizing for their spend because it gives them incredible flexibility.

They can use on-premise for as long as they need it. They can move to the cloud and get a much lower price in the cloud with BYOL, and they can move back and forth. And it just gives us the kind of flexibility. Those agreements are the ultimate sort of the foundation of so much of what goes on.

In addition, of course, in technology, we also have our leading Java business, which on-premise is an extensive use and in the cloud is at no charge. So customers can be motivated to bring their Java to the Oracle Cloud and to use it at no charge, their Java program and to use it at no charge.

So we have a lot of things that incent bringing your Oracle databases to our cloud and, of course, all your Java work to our cloud. So both of those are absolutely critical for our license numbers to be as strong as they are. And the Oracle database, I've been following Oracle for, well, since the '80s. And I always -- we always hear about some new product that's about to overtake Oracle. And the reality is that the Oracle database is beyond the gold standard.

If you really need work done and if you want to protect your most critical data and you want to use large amounts of it, it is going to be the Oracle database that is head and shoulders above every other product. And invariably, some folks try other things when they get bigger, they always come back to the Oracle database It is irreplaceable because of its technical capabilities that are so far superior. And that becomes very, very, very clear to customers and more and more of them license -- continue their license and extend those unlimited agreements, whether for on-premise and in the cloud. It's not either or it's both, and that is the best use of it.

Lawrence Ellison

I'll add 1 thing to that, which is the Oracle Autonomous Database is interesting because it's autonomous. In other words, it doesn't require human beings to run it like database administrators, things like that. Recently, inside of Oracle, inside of our cloud, virtually every database going up for -- to run our cloud, the autonomous database because people don't want to hire database administrators inside of Oracle Corporation. It's just much cheaper to run.

And I think in that sense, the Autonomous database is countercyclical. You do save a huge amount of money just by moving from conventional Oracle database to the autonomous database. It's actually more secure, more reliable and cost Wales to run. You don't need a bunch of experts running it. You don't need anyone to run it.

There is a programming language called APEX, which uses -- it's a low code programming environment where you use 10% the name amount of programmers that you would use if you were programming in our other programming language called Java. And APEX is also becoming very popular inside of Oracle to build applications. I see this as 2 interesting trends as people using more modern technology to dramatically reduce their labor costs, which I think will play very well in the next couple of years in this economy.

Safra Catz

Yes. I think people don't realize how exorbitantly expensive it is to run those large SAP systems. They have data centers associated with them. They have hundreds, sometimes thousands of technicians to run them. They're old, they're clunky and moving to Fusion ERP. It's just a totally different world and costs So - the costs are tiny in comparison. I think people sort of forget that. And this applies really to all on-premise systems, but even more so to those old SAP systems.

And our cloud offering in that area really is unrivaled. Frankly, unrivaled. And we -- our win rates just continue. And we're very optimistic about it, and we've sold a lot. A lot is still being implemented, and we expect that you'll see that in the numbers, while our customers end up spending less than what they use to spend with on-premise.

Oracle has been run by the same team for many years now, with the exception of the passing of former co-CEO Mark Hurd. And the team has certainly had its shares of miscues and wrong choices. The team is also very promotional. That doesn’t mean that everything management says is inaccurate or should be disregarded.

For example, I believe that MongoDB has an excellent and widely respected database solution. And it is really difficult to gainsay the market penetration in the database area achieved by the cloud titans as well as the extraordinary growth of Snowflake. What I believe is happening is that Oracle is starting to realize some of the benefits of its extensive product line. Oracle is a bit unique in having both a competitive, enterprise grade set of ERP solutions and a full featured database. It is not necessary to believe all of the competitive propaganda above in order to believe that Oracle has created a set of offerings that provide users with benefits in terms of flexibility and costs that have reaccelerated growth. That said, I do believe that the benefits of the autonomous database are not all hype, and anecdotal checks I have made suggest it is finally starting to achieve traction with some users.

When it comes to ERP, I confess that the conflicting claims amongst the major competitors, and some of the point players as well, are simply impossible to resolve. Oracle Fusion and SAP S/4 Hana have been mortal rivals in terms of their apps offering for decades now. Oracle and Workday have battled as well. Microsoft Dynamics 365 is another successful competitor in the space that has enjoyed market share gains and excellent growth. The link shown here is quite positive for Oracle’s competitive positioning. Interestingly, the chief competitor listed by this evaluation is NetSuite, which is Oracle’ small/medium business ERP offering. Here is a link to an evaluation which compares the differences between the flagship ERP products offered by SAP and by Oracle. SAP is far larger than Oracle in terms of its revenue from apps, and this is one area in which Oracle can and is apparently achieving market share gains. This evaluator, who is a 3rd party consultant with Oracle experience, maintains that Oracle is his choice between the two leading vendors in the space.

Oracle, which is the largest enterprise focused software company, seems likely to experience at least some cyclical perturbations. But in a mild and brief interruption of overall economic growth, its improving competitive position is likely to buffer the impact. It isn’t necessary to totally believe the comments by Larry Ellison and Safra Katz regarding all of the counter-cyclical demand drivers in order to believe that Oracle’s business will really be able to achieve double digit growth over the next year and beyond.

Oracle’s purchase of Cerner: Will Oracle achieve the necessary synergies?

Cerner is by far Oracle’s largest single acquisition, and it will represent more than 10% of the revenues of the combined entity. In the past, Oracle was an acquisitive organization, but subsequent to the 2016 acquisition of NetSuite, this is the first significant acquisition made by the company. When the Cerner acquisition was announced in December, a few days after the company had announced a strong quarter, Oracle shares fell by about 16% over a two week span, which was noticeably worse than the software ETF, the IGV, which only fell 3% over the same period. Many of the analysts who cover Oracle were skeptical that the acquisition would produce synergies. The company, in the press release announcing the merger said it would be accretive to non-GAAP earnings in the current fiscal year.

Oracle wound up paying $28 billion, or $95/share, for Cerner which was about a 40% premium above Cerner’s share price before the acquisition was announced. Cerner’s growth has been at a glacial pace over the past several years. Since 2018 revenue growth has been less than 10% in total; that is less than 3%/year. On the other hand, the company has been reasonably profitable, although adjusted operating margins in the mid-teens range are far below the levels at which Oracle operates.

This was an all-cash transaction and as Oracle had a cash balance of $22 billion before paying for Cerner, it had to borrow some money. The company already had $76 billion of debt and substantial lines of credit. The cost of debt for Oracle these days is about 3.2%; the weighted average cost of capital calculation is around 6.5%. So, for the transaction to make sense, Oracle has to assume some substantial synergies, both in terms of revenues and expenses, although the expectation of the acquisition adding to non-GAAP EPS in the current year seems a fairly safe projection.

Cerner is one of the leading competitors in the field of health information systems. I have linked here to an analysis of the company's solutions. The company has suffered through years of execution issues and management change. The company's principal competitor is privately held Epic Healthcare. Epic is slightly larger with a 31% share of the relevant market, compared to 25% for Cerner. The link here, delves into the differences and similarities between the two offerings. Most software companies grow by expanding their TAM into adjacencies. Cerner has not been successful with such a strategy which left it vulnerable to being acquired. I feel reasonably sure that Oracle will take the steps necessary to develop a vision and solutions to encompass more of the health care information systems market than Cerner had been able to accomplish.

Oracle and Cerner were not competitors before the merger. But there are enormous cross-sell/up sell opportunities. Health Care has been Oracle’s leading vertical for some time now. Just a few major installations that will be sales targets for the new entity include Indiana University Health, Northwell Health, CarolinaEast Medical Center and Atrium Health. Cerner is the 2nd largest health care software vendor. Some high profile customers include the NHS in the UK, Emory Healthcare and Johns Hopkins Children’s Hospital. Obviously the opportunities to sell Oracle data bases and its Fusion ERP to the Cerner installed base is huge. And the opportunity to leverage Oracle’s healthcare installed base to buy some of the large suite of Cerner apps is substantial as well. Quantifying just what these synergies will represent over time is not really something that I can realistically estimate; I imagine it will be a substantial number compared to Cerner’s current revenue run rate of $5.8 billion.

The cost synergies are easier to triangulate. Oracle’s non-GAAP margin last year was 46%, and the company has forecast that its operating margin would rise from that level. But at the least, it is 3000 basis points above Cerner’s most recent operating margin. Adding 3000 basis points to Cerner’s operating margins and using its latest 12 months of revenue would yield $1.74 billion to Oracle’s operating profits, or about $.50 in incremental EPS after taxes. That is an uplift of 8% to the earnings anticipated in Oracle’s fiscal 2024, and since the company hasn’t explicitly guided to synergistic accretion, it is almost certainly not part of the currently published 1st Call consensus. At the least, assuming that the contribution margins from Cerner will be at rates comparable to Oracle's operating margins will justify the acquisition.

In the last conference call, the CEO talked about a strategy to review Cerner’s entire product portfolio, with a view toward replacing 3rd party products with comparable Oracle solutions. In addition, Cerner’s cloud product will move to OCI. I think the contribution margin from the merger, will, over a couple of years, serve as a decent tailwind to Oracle’s total operating margins, and will serve to fund the research and development effort needed to build the transformative health care solutions management environs.

As might be anticipated, Oracle, has a dramatic vision of how the product strategy incorporating Oracle is going to play out. The vision is pretty dramatic, but like many things with this kind of complexity and scope, execution is going to be key, and there will be elevated expenses and an extended payback. Rather than me interpreting the company’s healthcare software product roadmap, here are the deliverables the company is planning on releasing (from the Q4 conference call):

In health care, we’re in the process of building a complete suite of applications for the entire health care ecosystem, starting with health care providers like hospitals and clinics.

We’re modernizing Cerner’s clinical systems by adding capabilities like a voice user interface and applications like disease-specific AI models for cancer and other diseases. We’re including an IoT device network to Strengthen patient diagnostics and monitoring. We’re adding administrative systems, including managing the incredibly complex contract workforce that hospitals have as doctors are not bolt-on employees nor are nurses. We are going to help recruiting, scheduling and paying those contract workers according to their contracts.

Inventory at hospitals is enormously complicated. Inventories aren’t in a central location. You find inventory in nurse’s stations outside operating rooms, outside the intensive care unit. There’s inventory everywhere. Managing that inventory is very complicated. We’re adding RFID tags and maps on handheld phones to help people find what they’re looking for quickly. For payers, including insurance companies and governments, we’re automating payment authorization and billing systems. For pharmaceutical companies, we’re integrating our clinical trial system directly into the hospital clinical system, making clinical trials easier to start and faster to complete.

Of course not all of Oracle’s mergers have achieved their objectives. Oracle bought Sun Microsystems back in 2009. The company, somehow, may have gotten a return on the $7.4 billion purchase price, and some of what Sun brought to Oracle’s product offering such as Java has had some level of success. Oracle’s Exadata appliance, while still being sold and supported, certainly turned out to be far from the growth driver the company had expected. Health care software is certainly an opportunity, and Oracle starts with significant assets in its ambition to transform the space. But at the end of the day, given that the transaction is fully justified simply on cost synergies, and the share price certainly doesn’t in any way reflect the potential Oracle has to drive revenue growth through its transformation strategy, if the company is successful in its aspirations, it will be lagniappe for shareholders.

Oracle has used its free cash flow to significantly reduce outstanding shares which are now at 2.78 billion down from 3.02 billion a year ago and down from 4.2 billion just 5 years ago. Because of the consideration Oracle has paid to acquire Cerner, it has indicated that its recent tempo of share repurchases which has been $600 million/ or about 9 million shares/quarter will continue until it has paid down much of the debt associated with the transaction. I suspect this absence of massive share repurchases has been one factor that has muted the share price performance of the shares in the days since earnings were released and the CEO described her plans for the future share repurchase cadence. For long term investors, this pause in high levels of share repurchase shouldn't greatly matter.

Oracle’s Business Model

Oracle has been one of the most profitable software companies for the past decade and more. There are many reasons for the company’s profitability; one of these is that it still derives a significant level of very high margin service renewal revenues, particularly from its database customers who find the expenses associated with migrating to more modern technology simply not worth the problem. Of course, over time, these revenues will continue their decline, and they are being replaced by revenues from cloud solutions which have lower gross margins now, but which eventually will have a significant positive impact on Oracle's margins as the company scales its infrastructure and starts to benefit from very high margin renewals.

In considering Oracle’s model, it is important to note that its business has very seasonal characteristics. In particular, Q4, which is the quarter recently reported, is invariably the strongest quarter of the year with revenues typically growing 10%+ sequentially. Q1 is the company’s smallest quarter, and typically Q2 shows sequential progression from that low point. So, there is no reason to examine quarterly progression. Because Q4 is the seasonal high point for Oracle revenues, operating margins in Q4 have almost invariably been at the highest level in the year. The acquisition of Cerner is going to have a modest impact on dampening seasonality, as Cerner’s model has never been particularly seasonal.

Last quarter, Oracle’s non GAAP operating margin was 47% compared to 49% in the same quarter the prior year. As mentioned earlier, the major factor in the year on year decline in operating margins last quarter was the higher percentage of research and development expense. General and administrative costs rose 21% in constant currency although that cost ratio remained at 3% when rounded. Some of that increase costs related to the merger with Cerner which has now been completed.

For the full year, year research and development expense rose by 11%, and general and administrative expense rose by 5%. Stock based compensation expense rose noticeably last fiscal year, primarily because of Oracle’s hiring activity in the highly competitive research and development cost bucket. The company is projecting that the costs of the merger will lead to some margin contraction in Q1, and EPS is expected not to show material increase compared to the year earlier period. This is net of absorbing about a 4% impact from currency moves. As mentioned above, Oracle has not provided full year 2023 guidance other than to say that the Cerner acquisition, even including the expenses that will be absorbed in Q1.

The company is projecting that it will increase capex somewhat next year. At this point, capex for Oracle is mainly a function of the rate at which it expands its regional data centers to support Oracle's Cloud Infrastructure. It plans to add 6 new regions in the current fiscal year, and increase of a bit more than 15% to its current count of data centers. Thus capex seems likely to be greater than $5 billion, and this probably means that free cash flow generation will be around $10 billion for the full year.

The company’s backlog as mentioned rose quite a bit faster than the increase in reported currencies. On the other hand, the company’s deferred revenue balance did not follow suit. If bookings growth percentages remains at the levels in Q4 and suggested by the company’s guide, at some point it seems likely that deferred revenue growth will become a tailwind to operating cash flow. I have projected that Oracle’s free cash flow margin will reach 17% next year, and it should proceed higher from that point.

Valuation/Wrapping Up

Writing about GARP software companies sometimes seems a contradiction in terms. Most investors in the enterprise software space, at least until the last 8 months, have wanted to see growth, and a reasonable path to profitability and cash flow generation. Now... well given the negative sentiment of that has grown over the past few months, at least until last week, it has been more than a bit unclear what investors have been seeking. Oracle is a bit Janus-faced as an investment. I believe that it now offers shareholders double digit organic growth and sky high operating margins, as well as rising cashflow margins. The cost synergies that Oracle will reap from its recently completed acquisition of Cerner don’t really seem to be reflected in current estimates, perhaps because the company itself, has not provided full year projections. The current published consensus for EPS of $5.27 clearly is at odds with management’s projection that the Cerner merger will be accretive in the current fiscal year.

At this point, my projection suggests that Oracle’s 12 month forward EV/S is 4.45X, and as mentioned I believe the company will be able to achieve a free cash flow margin of 17% in that period after absorbing over $5 billion in capex as it ramps the investment in its cloud infrastructure. Those projections result in a free cash flow yield of just less than 4% on the company’s enterprise value. I project that earnings will be greater than $5.80 over the coming year, so the forward P/E ratio is about 12X.

The company's weighted average cost of capital based on the link I provided earlier in this article is about 6.5%. Using 6.5% in a DPV calculation suggests that Oracle's "fair value" is more than 70% above the current share price based on the company achieving 10%+ growth and a free cash flow margin rising to the mid-30% range.

Will those projections be upended by an economic contraction? The kind of contraction that is being forecast by most seems unlikely to really change the trajectory of enterprise IT purchases. That said, there is certainly more uncertainty in the outlook for growth in IT spending than has been seen in recent years; there is certainly reason to be cautious in terms of expectations given the many unknowables in the environment.

I usually prefer to recommend share gainers in writing about IT investments. Although last quarter was exceptional in terms of data base growth, I doubt that the elements that led to its strength will continue for a full year. There really are many competitors of varying shapes and sizes who have made Oracle’s domination of the data base market of less substance than has heretofore been the case. That doesn’t mean that Oracle’s database revenues won’t grow - they just aren’t likely to grow at the elevated levels achieved last quarter. Oracle, I believe, can be a share gainer in the apps space, and while its cloud infrastructure business isn’t likely to challenge the cloud titans in the foreseeable future, it has a strong growth trajectory which is part of the double-digit growth story as well. Most users perceive performance and functionality advantages to running Oracle apps on it cloud infrastructure.

There are loads of undervalued IT shares out there; it would take weeks of performance like that of Thursday/Friday, 6/23-6/24 to undo the carnage of 8 months, particularly as regards to valuation. But for readers looking for a bit of safety in what has been a hyper-treacherous environment in which to invest in higher growth IT names, Oracle seems to be a reasonable haven. It will never be able to develop the growth or the potential returns of high growth IT, but from current levels there can be significant percentage appreciation.

Mon, 27 Jun 2022 07:19:00 -0500 en text/html
Killexams : Oracle Considering $1B in Cuts, Is the Stock Still a Buy?

Oracle (ORCL) recently announced its plans to lay off thousands of employees and cut costs by $1 billion. However, given that the company has been making several strategic advances to boost its cloud infrastructure platform is it worth buying the stock now? Let's find out…. - StockNews

A leading provider of information technology and cloud services Oracle Corporation (ORCL) provides products and services that meet business information technology environments globally. The stock has gained 9.3% over the past month to close yesterday's trading session at $70.03.

According to sources, ORCL has considered slashing costs by much to $1 billion and laying off "thousands" of employees as early as August. The job layoffs came only weeks after ORCL completed its $28 billion acquisition of Cerner, which would give the business a stronger position in the healthcare technology industry. According to the company's website, it acquired around 28,000 workers from Cerner as part of the transaction.

Also, ORCL has announced intentions to introduce new sovereign cloud regions in the European Union (EU) in 2023, allowing personal firms and public sector organizations to host sensitive functions and workloads.

Here's what could shape ORCL's performance in the near term:

Recent Developments

In July, Digital Remedy, a leading advertising and marketing technology platform that provides programmatic media solutions, including performance CTV, announced continued success with its collaboration with Oracle Moat to combat invalid traffic and ensure campaign viewability in CTV and over-the-top (OTT) environments.

Last month, ORCL opened the first Oracle Cloud Infrastructure (OCI) region in Mexico, making it the country's first major cloud provider to establish a dedicated cloud region. Oracle's Mexico-based clients, partners, and developers will now have access to a comprehensive choice of cloud services with built-in security, disaster recovery, and industry-leading price performance through the new area in the state of Querétaro.

Strong Profitability

ORCL's trailing-12-month net income margin of 15.8% is 222.1% higher than the industry average of 4.9%. Also, its ROC and ROA are 161.4% and 103.9% higher than the respective industry averages. Furthermore, its gross profit margin of 79.1% is 56.1% higher than the industry average of 50.7%.

Impressive Growth Prospects

Street expects ORCL's revenues and EPS to rise 17.8% and 7.1% year-over-year to $50 billion and $5.25, respectively, in fiscal 2022. In addition, ORCL's EPS is expected to rise at a 12.1% CAGR over the next five years.

Moreover, the company has an impressive earnings surprise history, as it topped Street EPS estimates in three of the trailing four quarters.

Discounted Valuation

In terms of forward Non-GAAP P/E, the stock is currently trading at 13.39x, 20.1% lower than the industry average of 16.8x. Also, its forward EV/EBIT of 11.74x is 19.7% lower than the industry average of 14.61x. Moreover, ORCL's forward Price/Cash Flow of 12.39x is 23.9% lower than the industry average of 16.28x.

Consensus Rating and Price Target Indicate Potential Upside

Of the 18 Wall Street analysts that rated ORCL, six rated it Buy, and 11 rated it Hold. The 12-month median price target of $87.40 indicates a 24.8% potential upside. The price targets range from a low of $70.00 to a high of $115.00.

POWR Ratings Reflect Solid Prospects

ORCL has an overall grade of B, equating to a Buy rating in our proprietary POWR Ratings system. The POWR Ratings are calculated considering 118 different factors, with each factor weighted to an optimal degree.

Our proprietary rating system also evaluates each stock based on eight different categories. ORCL has a B grade for Quality. ORCL's solid earnings and revenue growth potential is consistent with the Quality grade.

Of the 156 stocks in the F-rated Software – Application industry, ORCL is ranked #20.

Beyond what I stated above, we have graded ORCL for Sentiment, Growth, Value, Stability, and Momentum. Get all ORCL ratings here.

Bottom Line

ORCL's robust profitability and solid growth outlook for the upcoming quarters should aid its performance in the near term. In addition, given favorable analysts' price objectives and the company's continued investment in its cloud infrastructure platform, the stock could soar in the near term. So, we think the stock could be a great buy now.

How Does Oracle Corporation (ORCL) Stack Up Against its Peers?

ORCL has an overall POWR Rating of B, which equates to a Buy rating. Check out these other stocks within the same industry with A (Strong Buy) ratings: Rimini Street Inc. (RMNI), American Software Inc. (AMSWA), and IBEX Ltd. (IBEX).

ORCL shares fell $0.54 (-0.77%) in premarket trading Thursday. Year-to-date, ORCL has declined -18.72%, versus a -19.65% rise in the benchmark S&P 500 index during the same period.

Pragya is an equity research analyst and financial journalist with a passion for investing. In college she majored in finance and is currently pursuing the CFA program and is a Level II candidate.


The post Oracle Considering $1B in Cuts, Is the Stock Still a Buy? appeared first on

Thu, 14 Jul 2022 15:00:00 -0500 Pragya Pandey en text/html
Killexams : Digital Realty and Oracle Strengthen Partnership through Second Oracle Cloud Region in France

Oracle Cloud Infrastructure services are now available from Oracle Paris Cloud Region in Interxion's Paris Digital Park (IPDP), the largest data center campus in France, located less than three kilometers from Paris

Companies can now implement their digital transformation strategies and deploy hybrid and multi-cloud while reducing their environmental impact

PARIS, July 18, 2022 /PRNewswire/ -- Interxion: A Digital Realty Company (NYSE: DLR), a leading provider of cloud- and carrier-neutral data center, colocation and interconnection solutions in EMEA, today announced that it is providing its customers located in Interxion's Paris data center campus with direct and secure access to Oracle Cloud Infrastructure (OCI) via the new Oracle Cloud Paris Region.  

Digital Realty

Within Interxion Paris Digital Park (IPDP), Interxion's largest campus in France located just three kilometers from Paris, customers can deploy their critical infrastructure and be supported in their digital transformation by gaining access to one of the leading cloud and interconnection hubs in Europe and the fourth largest internet hub in the world as of today.

The decision to open Oracle's second cloud region in Paris, France, was made in direct response to the growing demand for hybrid cloud services emanating from the public sector, as well as enterprises and SMEs. This development marks the opening of Oracle's 38th cloud region worldwide,  which is one of the fastest expansions of a major cloud provider.

Christophe Negrier, SVP EMEA South, Cloud Business and Managing Director, Oracle France, comments: "After the opening of our first cloud region in Marseille, we have selected Interxion again to help deploy our critical infrastructure and offer Oracle Cloud Infrastructure via our newest cloud region in Paris. This relationship is based on a common objective to support the digital transformation of companies by limiting their environmental impact. Interxion France's corporate social responsibility (CSR) policy has thus proved to be an important criterion of choice for us, particularly in view of their contribution to carbon neutrality for scopes one and two. In addition, Interxion's use of renewable energy corresponds to Oracle's commitment to sustainability and its pledge to power all Oracle Cloud regions worldwide with 100 percent renewable energy by 2025, which is already the case in all of our data centers in Europe." 

The opening of Oracle's second cloud region with Interxion in France is a logical extension of its existing partnership, both at a local level, following the launch of its first cloud region in Marseille last year, and at a global level with Digital Realty. Through PlatformDIGITAL®, Digital Realty's global data center platform, customers have access to top-tier cloud providers like Oracle Cloud Infrastructure, as well a platform of several densely populated connected data communities that includes 1,500+ enterprises, 1,200+ network service providers, and 1,100+ cloud and IT providers as of today, all via a single data center provider.

Fabrice Coquio, SVP, Digital Realty & Managing Director, Interxion France, comments: "We are very excited to welcome Oracle's second cloud region in France to Interxion. This partnership enriches our value offering for our customer communities by removing the barriers associated with the adoption of hybrid and multi-cloud environments in the Paris market. It is also satisfying to see that our commitment to reducing the environmental impact of our data centers was a key factor in Oracle's decision to select Interxion again. We are proud to provide this level of service while supporting companies in their digital and environmental transformations." 

About Interxion: A Digital Realty Company 
Interxion: A Digital Realty Company is a leading provider of cloud- and carrier-neutral data centre services across EMEA. With more than 700 connectivity providers in 105+ data centres across 13 European countries, Interxion provides communities of connectivity, cloud, and content hubs. As part of Digital Realty, customers now have access to 50 metros across six continents. For more information, please visit or follow us on LinkedIn and Twitter

About Digital Realty 
Digital Realty supports the world's leading enterprises and service providers by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL®, the company's global data center platform, provides customers a trusted foundation and proven Pervasive Datacenter Architecture (PDx™) solution methodology for scaling digital business and efficiently managing Data Gravity challenges. Digital Realty's global data center footprint gives customers access to the connected communities that matter to them with 290+ facilities in 50 metros across 26 countries on six continents. For more information, please visit or follow us on LinkedIn and Twitter

Oracle, Java and MySQL are registered trademarks of Oracle Corporation.

For more information

Press Contacts
Claire Chadourne
Interxion: A Digital Realty Company
+33 (0)6 99 20 90 85
[email protected]

Emmanuelle Pionnier / Marie-Hélène Veillon
Oxygen RP
+33 (0)6 09 09 15 06 / +33 (0)6 07 28 69 43
[email protected] / [email protected]

Oracle France   
Bastien Rousseau – +33 06 27 45 32 06 ([email protected])       
Agence LEWIS / PISTON – [email protected]
Aesa Langenhove – +33 06 66 41 80 35
Maxence Godefroy – +33 06 18 53 06 12
Grégory Alleaume – +33 07 77 00 56 52

Investor Relations
Jordan Sadler/Jim Huseby
Digital Realty
+1 737 281 0101
[email protected]

Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause genuine outcomes and results to differ materially, including statements related to PlatformDIGITAL®, Oracle Cloud Infrastructure, expected growth in digital transformation, customer demand, and the French market.  For a list and description of risks and uncertainties, see the reports and other filings by the company with the U.S. Securities and Exchange Commission. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Killexams : Oracle to host Colombian cloud region in Claro facility

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Killexams : Next-Gen Database Developer SingleStore Raises $116M From Goldman Sachs, Leading IT Vendors

Applications os News

Rick Whiting

SingleStore is rapidly staffing up, doubling its headcount over the last year and building out its executive ranks with a new CFO and new general counsel.


Cloud-native database developer SingleStore has raised $116 million in a financing round led by Goldman Sachs and participation by Dell Technologies, Hewlett Packard Enterprise and IBM, among others.

The new funding increases SingleStore’s total financing to more than $434 million since its 2011 founding, according to the Crunchbase website. SingleStore itself said it has raised $278 million over the last 20 months, including $80 million funding rounds in December 2020 and in September 2021.

The latest funding comes on the heels of the company hiring a new chief financial officer and a new general counsel.

[Related: The Coolest Database System Companies Of The 2022 Big Data 100]

SingleStore develops SingleStoreDB, a distributed relational database system for data-intensive transactional and analytical applications. The company positions its database as a next-generation alternative to mainstay databases – particularly Oracle’s flagship relational database.

SingleStore also offers SingleStoreDB Cloud, a fully managed database-as-a-service. Last month the San Francisco-based company updated the core database with new workload scalability, a new code engine and flexible parallelism capabilities.

“Our purpose is to unify and simplify modern data,” said SingleStore CEO Raj Verma, in a statement. “We believe the future is real time, and the future demands a fast, unified and high-reliability database — all aspects in which we are strongly differentiated. I am very excited to partner with Goldman Sachs, the beacon of financial institutions, and further expand our relationship.”

Staffing Up

As part of the latest funding announcement SingleStore said it has nearly doubled its headcount in the last 12 months “and continues to aggressively hire to meet the demand for its product and services.”

The latest funding round was led by Goldman Sachs Asset Management with new participation from Sanabil Investments. Current investors Dell Technologies Capital, GV, HPE, IBM Ventures and Insight Partners, among others, also participated.

Last week SingleStore said it had been accepted as a Gold Status Partner in Intel’s Disruptor Initiative. In April SingleStore debuted SingleStoreDB with IBM, a collaboration with Big Blue through which IBM sells and supports the SingleStore database and provides global deployment support through IBM Consulting.

SingleStore, which changed its name from MemSQL in 2020, also has a strategic alliance with data analytics giant SAS through which the companies have integrated the SingleStore database with the SAS Viya analytics, AI and data management platform.

Executive Hires

SingleStore could be gearing up for a future IPO. The company said it hired Meaghan Nelson as the company’s new general counsel. She joins from Veeva Systems where she was associate general counsel and before that held positions at MaxPoint Interactive, Etsy and Veeva: SingleStore noted that she played a role in taking all those companies through their IPOs.

“I couldn’t be more excited to join SingleStore at this important inflection point for the company,” Nelson said in a statement. “I feel that my deep experience working closely with companies through the IPO process along with my experience in scaling G&A orgs will be of great value to SingleStore as we continue to achieve new heights.”

The company also disclosed that it had hired Brad Kinnish as chief financial officer last month. Kinnish previously worked as CFO at Aryaka Networks and before that as CFO at Marin Software.

“By unifying different types of workloads in a single database, SingleStore supports modern applications, which frequently run real-time analytics on transactional data,” said Holger Staude, managing director at Goldman Sachs, in a statement. “The company aims to help organizations overcome the challenges of data intensity across multi-cloud, hybrid and on-prem environments, and we are excited to support SingleStore as it enters a new phase of growth.”

Rick Whiting

Rick Whiting has been with CRN since 2006 and is currently a feature/special projects editor. Whiting manages a number of CRN’s signature annual editorial projects including Channel Chiefs, Partner Program Guide, Big Data 100, Emerging Vendors, Tech Innovators and Products of the Year. He also covers the Big Data beat for CRN. He can be reached at

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Killexams : Oracle (ORCL) Releases Agent Service to Cloud CX for Utilities No result found, try new keyword!Combined with new AI-powered tools that guide agents to the next ... position in the cloud ERP market. Management is optimistic regarding the latest Oracle Fusion Cloud ERP, HCM and Enterprise ... Tue, 28 Jun 2022 03:44:00 -0500 text/html Killexams : Oracle ponders $1B cost reductions, laying off thousands

Oracle is considering cost cuts that could mean layoffs in August, according to tech publisher The Information.

An unnamed source with knowledge of the situation told the publication Oracle has considered eliminating thousands of jobs, primarily in the U.S. and Europe, as part of $1 billion cost reduction efforts.

The layoffs are being considered as Oracle evaluates its strategy to serve TikTok, the viral video app, as one of its cloud customers.

Oracle completed its $28.4 billion acquisition of Cerner in June and has since announced intentions of creating a unified national database of healthcare information. Oracle Cerner has 24.4 percent of the hospital market, and Oracle also provides the cloud infrastructure and customer relationship management platform for health systems across the U.S.

Oracle did not respond to a July 11 request for comment.

Tue, 12 Jul 2022 03:07:00 -0500 en-gb text/html
Killexams : ISG to Publish Reports on Oracle Ecosystem Partners

STAMFORD, Conn.--(BUSINESS WIRE)--Jul 8, 2022--

Information Services Group ( ISG ) (Nasdaq: III ), a leading global technology research and advisory firm, has launched a research study examining service providers that help enterprises and U.S. public sector agencies take advantage of Oracle enterprise software and cloud infrastructure technology.

The study results on Oracle ecosystem services for enterprises will be published in a comprehensive ISG Provider Lens™ report, called Oracle Ecosystem 2022, scheduled to be released in December. The report will cover companies offering services including consulting, implementation, integration and managed services. At the same time, ISG will publish the U.S. Public Sector Oracle Ecosystem 2022 report, covering providers with experience in developing and supporting Oracle solutions for public sector entities in the U.S.

Enterprise buyers will be able to use information from the reports to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.

Enterprises worldwide have responded to the disruptions of the COVID-19 pandemic by speeding up strategies to integrate business systems, automate workloads and enhance core business functions. Amid the pandemic, public agencies in the U.S. have faced growing pressure to reduce costs and better serve constituents while operating under specific constraints that most companies do not face.

“Oracle is at the center of enterprise software transformation, including migration to the cloud,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Oracle partners are critical to companies and public agencies that want to benefit from Oracle’s latest technologies.”

The enterprise software industry, including giants like Oracle, has fast-tracked modernization of its products in response to these needs. Oracle’s service provider partners help clients achieve their business goals using modern software enhanced with AI, machine learning and cloud capabilities. Oracle continues to invest in its partners by providing training programs and expanding their expertise, including enabling them to build customized solutions for business-specific challenges.

For the Oracle Ecosystem study, ISG has distributed surveys to more than 100 Oracle service providers. Working in collaboration with ISG’s global advisors, the research team will produce three quadrants representing the digital services and products the typical enterprise is buying, based on ISG’s experience working with its clients. The three quadrants are:

  • Consulting and Advisory Services, evaluating service providers that help enterprises maximize the value of existing and new Oracle investments in order to modernize, optimize and transform their business operations.
  • Implementation and Integration Services, assessing providers that specialize in implementing and integrating Oracle applications and infrastructure technologies for enterprises. Key capabilities include creating implementation plans and data migration strategies, deploying cloud environments and ensuring security and governance.
  • Managed Services, covering providers of turnkey managed services for running enterprise clients’ businesses, including technical and operational tasks, with support delivered onsite, offsite or both. The providers should offer hands-on training in Oracle applications and technologies.

Geographically focused reports from the study will cover the global Oracle services market and examine products and services available in the U.S., Brazil and Germany. ISG analysts Arun Kumar Singh, Meenakshi Srivastava, Elaine Barth, Gabriel Sobanski and Ulrich Meister will serve as authors of the report.

A list of identified providers and vendors and further details on the study are available in this digital brochure.

For the U.S. Public Sector study, ISG has distributed surveys to approximately 50 providers of Oracle services to public sector clients in the U.S. The three quadrants are:

  • Consulting and Advisory Services, evaluating providers that help public sector clients modernize, optimize and transform their operations. Their services can include assessing an agency’s maturity, improving and maintaining Oracle investments, developing future-state models, assessing security and developing governance processes.
  • Implementation and Integration Services, assessing providers specialized in implementation, migration and integration around Oracle applications and infrastructure technologies. The providers should have expertise in public sector organizational, operational and compliance requirements.
  • Managed Services, covering providers of turnkey managed services spanning applications, technology and infrastructure for public sector organizations using Oracle software and infrastructure.

A report will cover relevant services available in the U.S. public sector. ISG analysts Phil Hassey and Meenakshi Srivastava will serve as authors of the report.

A list of identified providers and vendors and further details on the U.S. public sector study are available in this digital brochure.

Providers not listed in either brochure can contact ISG and ask to be included in the studies.

All 2022 ISG Provider Lens™ evaluations now feature new and expanded customer experience (CX) data that measures genuine enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III ) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit

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CONTACT: Press Contacts:

Will Thoretz, ISG

+1 203 517 3119

Julianna Sheridan, Matter Communications for ISG

+1 978-518-4520



SOURCE: Information Services Group, Inc.

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