NICE (NASDAQ:NICE) Hits New 12-Month Low – Here’s What Happened

NICE Ltd. (NASDAQ:NICE)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $146.54 and last traded at $147.33, with a volume of 547347 shares changing hands. The stock had previously closed at $151.56.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NICE. Barclays decreased their price target on shares of NICE from $286.00 to $226.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Rosenblatt Securities decreased their target price on NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Jefferies Financial Group reiterated 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. Northland Securities cut their target price on shares of NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Finally, Citigroup reduced their target price on NICE from $279.00 to $228.00 and set a “buy” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.64.

NICE Stock Down 4.5 %

The firm has a 50 day moving average price of $168.81 and a 200 day moving average price of $172.89. The stock has a market cap of $9.10 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06.

NICE (NASDAQ:NICE) last issued 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 business had revenue of $721.60 million for the quarter, compared to analysts’ expectations of $718.47 million. NICE had a net margin of 16.18% and a return on equity of 16.17%. Equities analysts forecast that NICE Ltd. will post 9.85 earnings per share for the current year.

Hedge Funds Weigh In On NICE

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV boosted 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 buying an additional 100 shares in the last quarter. Avion Wealth acquired a new stake in NICE in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC purchased a new position in NICE in the fourth quarter worth $25,000. Anchor Investment Management LLC increased its position in shares of NICE by 200.0% during the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Finally, McIlrath & Eck LLC increased its position in shares of NICE by 56.9% during the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors 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.