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

Royal Bank of Canada reaffirmed their outperform rating on shares of NICE (NASDAQ:NICE) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $260.00 price objective on the technology company’s stock.

Several other equities research analysts have also weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $300.00 price objective on shares of NICE in a research note on Friday, August 16th. Northland Securities dropped their price objective on NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday. DA Davidson decreased their price target on shares of NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. Wedbush restated an “outperform” rating and set a $250.00 price objective on shares of NICE in a report on Friday, August 16th. Finally, Piper Sandler reissued a “neutral” rating on shares of NICE in a research report 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $260.57.

NICE Stock Down 5.3 %

NASDAQ NICE traded down $9.57 during mid-day trading on Friday, reaching $172.62. 1,165,943 shares of the company’s stock traded hands, compared to its average volume of 525,258. The company has a fifty day simple moving average of $172.93 and a 200-day simple moving average of $178.34. NICE has a 1-year low of $151.52 and a 1-year high of $270.73. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 1.61 and a beta of 1.04. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13.

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, beating the consensus estimate of $2.58 by $0.06. NICE had a net margin of 15.55% and a return on equity of 14.68%. The firm had revenue of $664.40 million for the quarter, compared to analysts’ expectations of $664.10 million. During the same period in the prior year, the company posted $1.63 earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that NICE will post 8.5 EPS for the current year.

Institutional Trading of NICE

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