NICE (NASDAQ:NICE) Downgraded by StockNews.com to “Buy”

NICE (NASDAQ:NICE) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

Several other research analysts have also issued reports on the company. Oppenheimer lowered NICE from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Jefferies Financial Group restated a “hold” rating and set a $200.00 price objective (down previously from $215.00) on shares of NICE in a report on Thursday, December 19th. Citigroup raised their price objective on shares of NICE from $330.00 to $334.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of NICE in a research report on Friday, November 15th. Finally, DA Davidson dropped their price target on shares of NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $259.50.

NICE Stock Performance

Shares of NASDAQ NICE traded up $3.96 during trading on Monday, hitting $165.62. 355,515 shares of the company traded hands, compared to its average volume of 321,901. The business’s fifty day moving average is $178.69 and its 200 day moving average is $174.44. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 1.46 and a beta of 1.06. NICE has a fifty-two week low of $151.52 and a fifty-two week high of $270.73.

Institutional Investors Weigh In On NICE

A number of hedge funds have recently modified their holdings of NICE. Rhumbline Advisers raised its stake in shares of NICE by 8.7% in the second quarter. Rhumbline Advisers now owns 3,358 shares of the technology company’s stock valued at $577,000 after buying an additional 269 shares during the period. Choreo LLC bought a new stake in NICE in the 2nd quarter valued at about $211,000. American Century Companies Inc. lifted its holdings in NICE by 6.8% during the second quarter. American Century Companies Inc. now owns 4,569 shares of the technology company’s stock valued at $786,000 after purchasing an additional 289 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in NICE by 271.4% during the second quarter. Oppenheimer & Co. Inc. now owns 16,086 shares of the technology company’s stock worth $2,766,000 after purchasing an additional 11,755 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of NICE by 12.8% in the second quarter. Federated Hermes Inc. now owns 18,663 shares of the technology company’s stock worth $3,209,000 after purchasing an additional 2,124 shares in the last quarter. 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.