Royal Bank of Canada Reiterates Outperform Rating for NICE (NASDAQ:NICE)

NICE (NASDAQ:NICE)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued to investors on Thursday, Benzinga reports. They currently have a $260.00 target price on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 52.02% from the stock’s current price.

Other equities research analysts have also issued reports about the company. JMP Securities reissued a “market outperform” rating and set a $300.00 price objective on shares of NICE in a research note on Friday, August 16th. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a report on Friday, June 14th. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of NICE in a report on Tuesday, August 13th. Citigroup increased their target price on NICE from $339.00 to $346.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, Barclays reduced their target price on NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Sixteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $269.64.

NICE Stock Performance

NICE opened at $171.03 on Thursday. The firm has a market cap of $10.75 billion, a PE ratio of 30.84, a P/E/G ratio of 1.35 and a beta of 1.05. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $169.88 and a 200-day simple moving average of $192.34. NICE has a fifty-two week low of $149.54 and a fifty-two week high of $270.73.

NICE (NASDAQ:NICE) last released its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.06. The business had revenue of $664.40 million during the quarter, compared to analyst estimates of $664.10 million. NICE had a return on equity of 14.68% and a net margin of 15.55%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. As a group, equities analysts predict that NICE will post 8.5 EPS for the current fiscal year.

Institutional Trading of NICE

Several hedge funds and other institutional investors have recently modified their holdings of the company. Park Avenue Securities LLC raised its holdings in NICE by 40.9% during the third quarter. Park Avenue Securities LLC now owns 7,295 shares of the technology company’s stock valued at $1,267,000 after buying an additional 2,118 shares in the last quarter. SG Americas Securities LLC raised its holdings in NICE by 67.5% during the third quarter. SG Americas Securities LLC now owns 5,237 shares of the technology company’s stock valued at $910,000 after buying an additional 2,110 shares in the last quarter. Davis Capital Management raised its holdings in NICE by 7.1% during the third quarter. Davis Capital Management now owns 4,860 shares of the technology company’s stock valued at $844,000 after buying an additional 324 shares in the last quarter. Sanctuary Advisors LLC bought a new position in NICE during the second quarter valued at about $595,000. Finally, Aurora Investment Counsel raised its holdings in NICE by 0.7% during the second quarter. Aurora Investment Counsel now owns 10,906 shares of the technology company’s stock valued at $1,876,000 after buying an additional 80 shares in the last quarter. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

NICE Company Profile

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.