NICE Ltd. (NASDAQ:NICE) Sees Significant Growth in Short Interest

NICE Ltd. (NASDAQ:NICE - Get Free Report) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,710,000 shares, a growth of 21.5% from the January 15th total of 2,230,000 shares. Based on an average daily volume of 501,600 shares, the short-interest ratio is presently 5.4 days. Approximately 4.3% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NICE. Piper Sandler reaffirmed a "neutral" rating on shares of NICE in a research report on Thursday, November 14th. Jefferies Financial Group restated a "hold" rating and issued a $200.00 price target (down previously from $215.00) on shares of NICE in a research report on Thursday, December 19th. Citigroup decreased their target price on shares of NICE from $315.00 to $279.00 and set a "buy" rating on the stock in a research report on Tuesday. DA Davidson cut their target price on shares of NICE from $300.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Finally, StockNews.com lowered shares of NICE from a "strong-buy" rating to a "buy" rating in a report on Monday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $250.27.

Institutional Investors Weigh In On NICE

Institutional investors have recently made changes to their positions in the company. Bruni J V & Co. Co. bought a new position in NICE in the third quarter worth about $22,849,000. Asset Management One Co. Ltd. boosted its stake in NICE by 13.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 47,214 shares of the technology company's stock valued at $8,200,000 after purchasing an additional 5,629 shares in the last quarter. Clear Creek Financial Management LLC increased its position in shares of NICE by 106.5% during the 4th quarter. Clear Creek Financial Management LLC now owns 4,303 shares of the technology company's stock valued at $731,000 after purchasing an additional 2,219 shares during the period. Kopion Asset Management LLC bought a new stake in shares of NICE in the 4th quarter worth $7,433,000. Finally, Parnassus Investments LLC lifted its holdings in shares of NICE by 1.5% in the third quarter. Parnassus Investments LLC now owns 517,039 shares of the technology company's stock valued at $89,794,000 after buying an additional 7,635 shares during the period. 63.34% of the stock is currently owned by institutional investors.

NICE Stock Performance

Shares of NICE stock traded up $2.04 during trading hours on Wednesday, hitting $178.50. 733,183 shares of the company were exchanged, compared to its average volume of 471,336. The business's 50-day simple moving average is $171.48 and its two-hundred day simple moving average is $173.14. NICE has a one year low of $151.52 and a one year high of $270.73. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.23 and a beta of 1.06.

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.