NICE (NASDAQ:NICE) Given New $279.00 Price Target at Citigroup

NICE (NASDAQ:NICE - Free Report) had its target price reduced by Citigroup from $315.00 to $279.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the technology company's stock.

Other research analysts also recently issued research reports about the company. Cantor Fitzgerald began coverage on NICE in a report on Friday, January 17th. They issued a "neutral" rating and a $176.00 price target for the company. Jefferies Financial Group restated a "hold" rating and set a $200.00 price objective (down from $215.00) on shares of NICE in a research note on Thursday, December 19th. DA Davidson reduced their price target on shares of NICE from $300.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, November 15th. Piper Sandler reissued a "neutral" rating on shares of NICE in a report on Thursday, November 14th. Finally, Northland Securities cut their target price on shares of NICE from $275.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, NICE presently has a consensus rating of "Moderate Buy" and an average target price of $239.60.

NICE Stock Up 1.2 %

Shares of NASDAQ:NICE traded up $1.80 during midday trading on Tuesday, reaching $155.39. The company's stock had a trading volume of 1,391,999 shares, compared to its average volume of 636,243. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. The business has a 50 day moving average price of $170.08 and a 200 day moving average price of $172.91. NICE has a 1 year low of $147.38 and a 1 year high of $270.73.

NICE (NASDAQ:NICE - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.96 by ($0.71). The business had revenue of $721.60 million for the quarter, compared to analysts' expectations of $718.47 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. Sell-side analysts anticipate that NICE will post 9.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NICE

Hedge funds and other institutional investors have recently modified their holdings of the stock. McIlrath & Eck LLC raised its position in shares of NICE by 56.9% during the 4th quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock worth $27,000 after buying an additional 58 shares in the last quarter. Financial Perspectives Inc raised its holdings in NICE by 11.6% during the fourth quarter. Financial Perspectives Inc now owns 635 shares of the technology company's stock worth $108,000 after purchasing an additional 66 shares in the last quarter. Richardson Financial Services Inc. raised its holdings in NICE by 43.8% during the fourth quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company's stock worth $38,000 after purchasing an additional 67 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in NICE by 5.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,428 shares of the technology company's stock worth $243,000 after purchasing an additional 77 shares in the last quarter. Finally, Berry Wealth Group LP raised its holdings in NICE by 5.2% during the fourth quarter. Berry Wealth Group LP now owns 1,616 shares of the technology company's stock worth $274,000 after purchasing an additional 80 shares in the last quarter. 63.34% of the stock is currently owned by institutional investors.

About NICE

NICE Ltd., together with its subsidiaries, provides cloud platforms for AI-driven digital business solutions worldwide. It offers CXone, a cloud native open platform; Enlighten, an AI engine for the customer engagement market; and smart self service enable organizations to address consumers' needs; and journey orchestration solutions that empower organizations to connect and route customers to deal with the customer's request, and connects them using real time AI-based routing.