NICE Ltd. (NASDAQ:NICE) Sees Large Drop in Short Interest

NICE Ltd. (NASDAQ:NICE - Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 1,560,000 shares, a decrease of 27.1% from the March 15th total of 2,140,000 shares. Based on an average daily volume of 665,700 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.5% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NICE shares. Cantor Fitzgerald lowered their price objective on shares of NICE from $176.00 to $161.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Rosenblatt Securities lowered their price target on NICE from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Morgan Stanley cut their price objective on NICE from $235.00 to $202.00 and set an "overweight" rating on the stock in a report on Wednesday. StockNews.com cut NICE from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 17th. Finally, Citigroup cut their price target on shares of NICE from $279.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, NICE has a consensus rating of "Moderate Buy" and an average target price of $225.71.

Institutional Investors Weigh In On NICE

Institutional investors have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC purchased a new position in NICE during the fourth quarter valued at $25,000. Avion Wealth acquired a new position in shares of NICE during the 4th quarter worth about $25,000. Tradewinds Capital Management LLC purchased a new position in NICE in the 4th quarter valued at about $25,000. Anchor Investment Management LLC boosted its holdings in NICE by 200.0% in the 4th quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock worth $25,000 after buying an additional 100 shares during the last quarter. Finally, McIlrath & Eck LLC increased its stake in 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. Institutional investors and hedge funds own 63.34% of the company's stock.

NICE Stock Performance

Shares of NICE stock opened at $149.75 on Friday. NICE has a fifty-two week low of $137.19 and a fifty-two week high of $235.71. The company has a market cap of $9.41 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 1.07 and a beta of 1.05. The firm has a 50-day simple moving average of $153.70 and a two-hundred day simple moving average of $167.51.

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

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.

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