NICE (NASDAQ:NICE) Reaches New 1-Year Low - What's Next?

NICE Ltd. (NASDAQ:NICE - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $146.54 and last traded at $147.33, with a volume of 547347 shares trading hands. The stock had previously closed at $151.56.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cantor Fitzgerald dropped their price target on NICE from $176.00 to $161.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Oppenheimer lowered shares of NICE from an "outperform" rating to a "market perform" rating in a research note on Friday, November 15th. Rosenblatt Securities reduced their price target on shares of NICE from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group restated a "hold" rating and issued a $200.00 price objective (down from $215.00) on shares of NICE in a report on Thursday, December 19th. Finally, Royal Bank of Canada reduced their price target on NICE from $260.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.64.

NICE Stock Down 2.7 %

The company's 50 day moving average price is $166.68 and its two-hundred day moving average price is $172.51. The stock has a market cap of $8.75 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.07 and a beta of 1.06.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NICE. Creative Financial Designs Inc. ADV boosted its position in shares of NICE by 208.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company's stock worth $26,000 after purchasing an additional 100 shares during the period. Park Square Financial Group LLC acquired a new position in shares of NICE in the 4th quarter valued at $25,000. Avion Wealth acquired a new stake in shares of NICE in the 4th quarter valued at about $25,000. Tradewinds Capital Management LLC purchased a new position in shares of NICE during the fourth quarter worth approximately $25,000. Finally, Anchor Investment Management LLC increased its stake in NICE by 200.0% in the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock valued at $25,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 63.34% of the company's stock.

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.