Piper Sandler Reaffirms “Neutral” Rating for NICE (NASDAQ:NICE)

Piper Sandler reiterated their neutral rating on shares of NICE (NASDAQ:NICE) in a research report sent to investors on Thursday morning, Marketbeat.com reports.

A number of other research analysts have also recently issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $300.00 price objective on shares of NICE in a report on Friday, August 16th. Barclays lowered their price objective on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Wedbush reiterated an “outperform” rating and set a $250.00 target price on shares of NICE in a report on Friday, August 16th. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price target on shares of NICE in a report on Tuesday, August 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price objective on shares of NICE in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.57.

NICE Trading Down 5.4 %

Shares of NICE stock traded down $9.92 on Thursday, hitting $172.27. 656,830 shares of the company’s stock traded hands, compared to its average volume of 522,965. The firm’s 50-day moving average price is $172.66 and its two-hundred day moving average price is $178.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. The stock has a market capitalization of $10.83 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04. NICE has a one year low of $151.52 and a one year high of $270.73.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.06. The firm had revenue of $664.40 million for the quarter, compared to analysts’ expectations of $664.10 million. NICE had a return on equity of 14.68% and a net margin of 15.55%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. On average, research analysts expect that NICE will post 8.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV lifted its position in 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 in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in NICE by 135.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock worth $32,000 after acquiring an additional 107 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in NICE during the third quarter valued at approximately $38,000. GAMMA Investing LLC grew its stake in NICE by 89.9% in the third quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock valued at $43,000 after purchasing an additional 116 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of NICE during the 2nd quarter worth approximately $72,000. 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.