NICE (NASDAQ:NICE) Downgraded to "Market Perform" Rating by Oppenheimer

Oppenheimer cut shares of NICE (NASDAQ:NICE - Free Report) from an outperform rating to a market perform rating in a report issued on Friday, Marketbeat Ratings reports.

NICE has been the subject of a number of other research reports. Rosenblatt Securities reissued a "buy" rating and set a $225.00 target price on shares of NICE in a research report on Tuesday, August 13th. Barclays dropped their price objective on NICE from $320.00 to $286.00 and set an "overweight" rating for the company in a report on Thursday, July 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $260.00 price target on shares of NICE in a research note on Thursday, October 3rd. Northland Securities lowered their price objective on shares of NICE from $275.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, JMP Securities restated a "market outperform" rating and issued a $300.00 price target on shares of NICE in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, NICE has a consensus rating of "Moderate Buy" and a consensus target price of $260.57.

NICE Stock Down 5.3 %

NASDAQ:NICE traded down $9.57 during trading hours on Friday, reaching $172.62. The company's stock had a trading volume of 1,165,914 shares, compared to its average volume of 525,258. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04. NICE has a one year low of $151.52 and a one year high of $270.73. The business's 50-day moving average is $172.66 and its 200-day moving average is $178.70.

NICE (NASDAQ:NICE - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The company had revenue of $664.40 million during the quarter, compared to the consensus estimate of $664.10 million. During the same quarter in the prior year, the company posted $1.63 EPS. The firm's revenue was up 14.3% on a year-over-year basis. Equities research analysts predict that NICE will post 8.5 EPS for the current year.

Hedge Funds Weigh In On NICE

Several large investors have recently added to or reduced their stakes in NICE. Creative Financial Designs Inc. ADV raised its position in shares of NICE by 208.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company's stock valued at $26,000 after purchasing an additional 100 shares during the period. Allspring Global Investments Holdings LLC increased its stake in NICE by 135.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company's stock worth $32,000 after purchasing an additional 107 shares during the period. ORG Wealth Partners LLC purchased a new stake in NICE in the 3rd quarter worth approximately $38,000. GAMMA Investing LLC boosted its stake in shares of NICE by 89.9% during the 3rd quarter. GAMMA Investing LLC now owns 245 shares of the technology company's stock valued at $43,000 after purchasing an additional 116 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of NICE during the second quarter valued at approximately $72,000. Institutional investors 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.