NICE’s (NICE) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of NICE (NASDAQ:NICE) in a report released on Wednesday morning,Benzinga reports. They currently have a $200.00 price objective on the technology company’s stock.

Several other brokerages have also recently issued reports on NICE. Rosenblatt Securities reduced their price objective on NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Cantor Fitzgerald reduced their price target on NICE from $176.00 to $161.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group reissued a “hold” rating and set a $200.00 price objective (down from $215.00) on shares of NICE in a research report on Thursday, December 19th. Barclays reduced their target price on shares of NICE from $286.00 to $226.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Citigroup dropped their price objective on shares of NICE from $279.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, NICE presently has a consensus rating of “Moderate Buy” and an average price target of $231.64.

NICE Trading Up 0.6 %

NICE opened at $151.98 on Wednesday. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.07 and a beta of 1.12. The stock’s 50-day moving average price is $160.17 and its 200 day moving average price is $169.67. NICE has a 12-month low of $137.19 and a 12-month high of $270.73.

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

Institutional Investors Weigh In On NICE

A number of hedge funds have recently added to or reduced their stakes in NICE. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of NICE during the 4th quarter worth approximately $313,808,000. FIL Ltd acquired a new position in NICE in the 4th quarter valued at $70,465,000. New South Capital Management Inc. purchased a new position in NICE during the fourth quarter worth about $54,980,000. Deutsche Bank AG boosted its position in shares of NICE by 95.7% in the fourth 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 during the last quarter. Finally, Perpetual Ltd acquired a new position in NICE during the fourth quarter worth approximately $31,792,000. 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.