NICE (NASDAQ:NICE) Price Target Cut to $215.00 by Analysts at Jefferies Financial Group

NICE (NASDAQ:NICE - Free Report) had its price objective cut by Jefferies Financial Group from $230.00 to $215.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the technology company's stock.

Several other research firms also recently commented on NICE. Piper Sandler reissued a "neutral" rating on shares of NICE in a research report on Thursday. Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 price objective on shares of NICE in a report on Friday. DA Davidson cut their target price on NICE from $300.00 to $225.00 and set a "buy" rating on the stock in a report on Friday. Oppenheimer downgraded NICE from an "outperform" rating to a "market perform" rating in a research note on Friday. Finally, Wedbush reissued an "outperform" rating and set a $250.00 price objective on shares of NICE in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, NICE presently has a consensus rating of "Moderate Buy" and an average target price of $260.57.

NICE Stock Down 5.3 %

Shares of NASDAQ:NICE traded down $9.57 during midday trading on Friday, hitting $172.62. 1,165,943 shares of the stock were exchanged, compared to its average volume of 525,258. The business's fifty day simple moving average is $172.93 and its two-hundred day simple moving average is $178.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45. NICE has a 52-week low of $151.52 and a 52-week high of $270.73. The company has a market capitalization of $10.85 billion, a PE ratio of 26.72, a P/E/G ratio of 1.61 and a beta of 1.04.

NICE (NASDAQ:NICE - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.06. The business had revenue of $664.40 million during the quarter, compared to analyst estimates of $664.10 million. NICE had a return on equity of 14.68% and a net margin of 15.55%. The firm's revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 EPS. As a group, research analysts predict that NICE will post 8.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NICE. Tanaka Capital Management Inc. increased its stake in NICE by 2,663.8% during the third quarter. Tanaka Capital Management Inc. now owns 4,809 shares of the technology company's stock valued at $835,000 after acquiring an additional 4,635 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of NICE during the third quarter valued at approximately $6,438,000. MML Investors Services LLC raised its stake in shares of NICE by 238.7% in the third quarter. MML Investors Services LLC now owns 7,503 shares of the technology company's stock valued at $1,303,000 after purchasing an additional 5,288 shares in the last quarter. World Investment Advisors LLC bought a new position in NICE in the third quarter worth $24,547,000. Finally, XTX Topco Ltd acquired a new stake in NICE during the third quarter worth $647,000. Institutional investors and hedge funds own 63.34% of the company's stock.

NICE Company Profile

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.