NICE (NASDAQ:NICE) Reaches New 12-Month Low – Here’s Why

Shares of NICE Ltd. (NASDAQ:NICE) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $137.19 and last traded at $140.62, with a volume of 1383627 shares. The stock had previously closed at $139.18.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler reiterated a “neutral” rating on shares of NICE in a report on Thursday, November 14th. DA Davidson cut their price target on NICE from $300.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. StockNews.com lowered shares of NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $200.00 price objective (down previously from $215.00) on shares of NICE in a research report on Thursday, December 19th. Finally, Northland Securities cut their price target on shares of NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.64.

NICE Stock Up 2.5 %

The stock’s 50-day moving average is $165.40 and its 200-day moving average is $172.04. The firm has a market cap of $9.32 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.71). The company had revenue of $721.60 million for the quarter, compared to the consensus estimate of $718.47 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. As a group, analysts expect that NICE Ltd. will post 9.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NICE. Sanctuary Advisors LLC increased its holdings in NICE by 329.9% in the 4th quarter. Sanctuary Advisors LLC now owns 5,743 shares of the technology company’s stock valued at $948,000 after buying an additional 4,407 shares during the period. Bruni J V & Co. Co. acquired a new position in NICE in the third quarter worth about $22,849,000. Asset Management One Co. Ltd. lifted its stake in NICE by 13.5% during the third quarter. Asset Management One Co. Ltd. now owns 47,214 shares of the technology company’s stock worth $8,200,000 after purchasing an additional 5,629 shares during the period. Clear Creek Financial Management LLC boosted its holdings in NICE by 106.5% during the fourth quarter. Clear Creek Financial Management LLC now owns 4,303 shares of the technology company’s stock valued at $731,000 after purchasing an additional 2,219 shares in the last quarter. Finally, Kopion Asset Management LLC acquired a new stake in NICE during the fourth quarter valued at approximately $7,433,000. 63.34% of the stock is currently owned by institutional investors and hedge funds.

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.