NICE (NASDAQ:NICE) Stock Rating Lowered by Oppenheimer

NICE (NASDAQ:NICE) was downgraded by investment analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, Marketbeat Ratings reports.

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price target on shares of NICE in a research note on Thursday, October 3rd. Barclays lowered 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. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price target on shares of NICE in a report on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and set a $250.00 price objective on shares of NICE in a report on Friday, August 16th. Finally, Piper Sandler restated a “neutral” rating on shares of NICE in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, NICE has an average rating of “Moderate Buy” and an average target price of $260.57.

NICE Stock Performance

Shares of NICE stock opened at $172.62 on Friday. NICE has a 12 month low of $151.52 and a 12 month high of $270.73. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $10.85 billion, a PE ratio of 26.72, a PEG ratio of 1.40 and a beta of 1.04. The stock’s fifty day simple moving average is $172.93 and its 200 day simple moving average is $178.02.

NICE (NASDAQ:NICE) last released its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.06. NICE had a return on equity of 15.48% and a net margin of 16.11%. The company had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. During the same quarter last year, the firm posted $1.63 earnings per share. NICE’s revenue was up 14.3% compared to the same quarter last year. On average, research analysts predict that NICE will post 8.58 EPS for the current year.

Institutional Investors Weigh In On NICE

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Hawaiian Bank acquired a new position in NICE during the second quarter worth approximately $516,000. Diversified Trust Co increased its holdings in shares of NICE by 237.9% during the 2nd quarter. Diversified Trust Co now owns 6,478 shares of the technology company’s stock worth $1,114,000 after acquiring an additional 4,561 shares during the last quarter. Capital World Investors bought a new stake in NICE in the 1st quarter valued at $9,699,000. Asset Management One Co. Ltd. raised its stake in NICE by 13.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 47,214 shares of the technology company’s stock valued at $8,200,000 after acquiring an additional 5,629 shares during the period. Finally, Buckingham Capital Management Inc. lifted its holdings in NICE by 43.5% during the 3rd quarter. Buckingham Capital Management Inc. now owns 19,214 shares of the technology company’s stock valued at $3,337,000 after purchasing an additional 5,829 shares during the last quarter. 63.34% of the stock is owned by 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.