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

StockNews.com lowered shares of NICE (NASDAQ:NICE) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

NICE has been the topic of a number of other research reports. Cantor Fitzgerald began coverage on NICE in a report on Friday, January 17th. They issued a “neutral” rating and a $176.00 target price on the stock. DA Davidson cut their target price on shares of NICE from $300.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Northland Securities dropped their price target on shares of NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Citigroup increased their price objective on NICE from $330.00 to $334.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $200.00 target price (down from $215.00) on shares of NICE in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.27.

NICE Price Performance

NICE stock opened at $178.50 on Monday. NICE has a fifty-two week low of $151.52 and a fifty-two week high of $270.73. The firm’s 50 day simple moving average is $171.48 and its 200-day simple moving average is $173.14. The company has a market cap of $11.22 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06.

Hedge Funds Weigh In On NICE

Several institutional investors and hedge funds have recently made changes to their positions in NICE. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in NICE during the 4th quarter worth $313,808,000. FIL Ltd bought a new stake in NICE in the 4th quarter valued at approximately $70,465,000. New South Capital Management Inc. acquired a new position in NICE during the 4th quarter worth approximately $54,980,000. Deutsche Bank AG grew its stake in shares of NICE by 95.7% during the 4th quarter. Deutsche Bank AG now owns 606,341 shares of the technology company’s stock worth $102,981,000 after acquiring an additional 296,514 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of NICE by 21.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock valued at $273,642,000 after purchasing an additional 279,375 shares during the last quarter. 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.