StockNews.com Downgrades NICE (NASDAQ:NICE) to Buy

NICE (NASDAQ:NICE - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Monday.

Several other equities analysts also recently weighed in on NICE. Citigroup lifted their target price on shares of NICE from $330.00 to $334.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Piper Sandler reiterated a "neutral" rating on shares of NICE in a research note on Thursday, November 14th. Cantor Fitzgerald assumed coverage on shares of NICE in a research note on Friday, January 17th. They set a "neutral" rating and a $176.00 price objective for the company. DA Davidson reduced their price objective on shares of NICE from $300.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, November 15th. Finally, Oppenheimer cut shares of NICE from an "outperform" rating to a "market perform" rating in a research note on Friday, November 15th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $239.60.

NICE Stock Performance

NICE stock traded up $1.80 during mid-day trading on Monday, hitting $155.39. The company had a trading volume of 1,391,885 shares, compared to its average volume of 598,209. The firm has a market cap of $9.77 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06. NICE has a 12 month low of $147.38 and a 12 month high of $270.73. The stock's fifty day moving average price is $170.71 and its two-hundred day moving average price is $173.01.

NICE (NASDAQ:NICE - Get Free Report) last posted its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.96 by ($0.71). The business had revenue of $721.60 million during the quarter, compared to analysts' expectations of $718.47 million. NICE had a return on equity of 15.31% and a net margin of 16.11%. Equities analysts anticipate that NICE will post 8.82 earnings per share for the current year.

Institutional Investors Weigh In On NICE

A number of hedge funds have recently made changes to their positions in the business. Formidable Asset Management LLC bought a new stake in shares of NICE in the 4th quarter worth approximately $682,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in NICE during the 4th quarter valued at $313,808,000. Vise Technologies Inc. purchased a new position in NICE during the 4th quarter valued at $229,000. McIlrath & Eck LLC increased its position in NICE by 56.9% during the 4th quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock valued at $27,000 after purchasing an additional 58 shares during the period. Finally, Woodline Partners LP purchased a new position in NICE during the 4th quarter valued at $2,881,000. 63.34% of the stock is currently owned by institutional investors.

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.