NICE (NASDAQ:NICE) Trading 5.3% Higher – Here’s What Happened

NICE Ltd. (NASDAQ:NICE)’s share price shot up 5.3% during trading on Monday . The company traded as high as $170.01 and last traded at $170.49. 115,637 shares were traded during mid-day trading, a decline of 72% from the average session volume of 406,989 shares. The stock had previously closed at $161.88.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NICE. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 target price on shares of NICE in a research note on Friday, November 15th. StockNews.com raised shares of NICE from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. 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 note on Friday, November 15th. Oppenheimer downgraded NICE from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Finally, Northland Securities lowered their target price on NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NICE currently has an average rating of “Moderate Buy” and an average target price of $253.93.

NICE Stock Performance

The firm has a fifty day moving average price of $175.05 and a 200 day moving average price of $174.02. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.15 and a beta of 1.06.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Richardson Financial Services Inc. increased its stake in shares of NICE by 43.8% during the fourth quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock worth $38,000 after purchasing an additional 67 shares during the period. Aurora Investment Counsel boosted its stake in shares of NICE by 0.7% in the second quarter. Aurora Investment Counsel now owns 10,906 shares of the technology company’s stock valued at $1,876,000 after buying an additional 80 shares during the period. Berry Wealth Group LP increased its stake in NICE by 5.2% during the 4th quarter. Berry Wealth Group LP now owns 1,616 shares of the technology company’s stock worth $274,000 after acquiring an additional 80 shares during the period. Mendota Financial Group LLC raised its holdings in NICE by 11.4% in the 3rd quarter. Mendota Financial Group LLC now owns 841 shares of the technology company’s stock valued at $146,000 after acquiring an additional 86 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of NICE by 48.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 277 shares of the technology company’s stock valued at $48,000 after acquiring an additional 91 shares during the period. 63.34% of the stock is currently 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.