NICE (NASDAQ:NICE) Hits New 52-Week Low on Disappointing Earnings

NICE Ltd. (NASDAQ:NICE - Get Free Report)'s share price hit a new 52-week low on Thursday following a weaker than expected earnings announcement. The company traded as low as $150.61 and last traded at $150.49, with a volume of 1003255 shares traded. The stock had previously closed at $178.50.

The technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.71). The company had revenue of $721.60 million for 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%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a $200.00 price target (down previously from $215.00) on shares of NICE in a report on Thursday, December 19th. Oppenheimer cut shares of NICE from an "outperform" rating to a "market perform" rating in a report on Friday, November 15th. Royal Bank of Canada decreased their price target on shares of NICE from $260.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday. DA Davidson decreased their price target on shares of NICE from $300.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, November 15th. Finally, Citigroup decreased their price target on shares of NICE from $315.00 to $279.00 and set a "buy" rating on the stock in a report on Tuesday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, NICE has a consensus rating of "Moderate Buy" and a consensus price target of $239.60.

Institutional Inflows and Outflows

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

NICE Price Performance

The stock has a 50 day moving average price of $170.08 and a 200-day moving average price of $172.91. The stock has a market capitalization of $9.77 billion, a P/E ratio of 24.05, a PEG ratio of 1.25 and a beta of 1.06.

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.