NICE (NASDAQ:NICE) Stock Rating Lowered by Oppenheimer

NICE (NASDAQ:NICE) was downgraded by Oppenheimer from an “outperform” rating to a “market perform” rating in a report released on Friday,Briefing.com Automated Import reports.

Other analysts have also recently issued research reports about the stock. Citigroup lifted their price target on shares of NICE from $330.00 to $334.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price target on shares of NICE in a research note on Thursday, October 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of NICE in a research report on Tuesday, August 13th. Barclays decreased their target price on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Wedbush reissued an “outperform” rating and issued a $250.00 price objective on shares of NICE in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.00.

NICE Trading Down 8.5 %

Shares of NICE opened at $182.19 on Friday. NICE has a fifty-two week low of $151.52 and a fifty-two week high of $270.73. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 1.61 and a beta of 1.04. The firm has a 50 day moving average price of $172.66 and a 200-day moving average price of $178.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45.

NICE (NASDAQ:NICE) last posted 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 business had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. During the same period last year, the company earned $1.63 EPS. NICE’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts forecast that NICE will post 8.5 earnings per share for the current year.

Institutional Investors Weigh In On NICE

Several hedge funds have recently made changes to their positions in NICE. Creative Financial Designs Inc. ADV increased its holdings in shares of NICE by 208.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of NICE by 135.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after buying an additional 107 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of NICE in the third quarter valued at about $38,000. GAMMA Investing LLC boosted its holdings in NICE by 89.9% in the 3rd quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock worth $43,000 after buying an additional 116 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of NICE during the second quarter worth approximately $72,000. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

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.