Citigroup Raises NICE (NASDAQ:NICE) Price Target to $346.00

NICE (NASDAQ:NICE) had its target price raised by Citigroup from $339.00 to $346.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research analysts also recently weighed in on NICE. Wedbush reissued an outperform rating and issued a $250.00 target price on shares of NICE in a report on Wednesday. JMP Securities reissued a market outperform rating and issued a $300.00 target price on shares of NICE in a report on Wednesday. Rosenblatt Securities lowered their target price on NICE from $285.00 to $225.00 and set a buy rating on the stock in a report on Wednesday. Bank of America lowered their target price on NICE from $300.00 to $270.00 and set a buy rating on the stock in a report on Friday, May 17th. Finally, StockNews.com raised NICE from a buy rating to a strong-buy rating in a report on Thursday, June 6th. Fifteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $276.62.

NICE Trading Down 0.1 %

Shares of NASDAQ:NICE opened at $167.90 on Wednesday. The company has a market cap of $10.56 billion, a P/E ratio of 30.31, a PEG ratio of 1.36 and a beta of 1.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.43 and a quick ratio of 2.43. NICE has a 1 year low of $149.54 and a 1 year high of $270.73. The stock’s fifty day moving average price is $208.17 and its 200-day moving average price is $216.57.

NICE (NASDAQ:NICE) last announced its quarterly earnings results on Thursday, May 16th. The technology company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.13. The firm had revenue of $659.31 million for the quarter, compared to the consensus estimate of $654.81 million. NICE had a return on equity of 14.05% and a net margin of 14.92%. Sell-side analysts expect that NICE will post 8.4 earnings per share for the current year.

Institutional Trading of NICE

Several institutional investors have recently made changes to their positions in the business. Capital Research Global Investors grew its position in shares of NICE by 4.0% during the first quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock worth $1,350,367,000 after purchasing an additional 201,035 shares in the last quarter. Capital International Investors grew its position in shares of NICE by 16.2% during the fourth quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock worth $426,402,000 after purchasing an additional 298,112 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in shares of NICE by 171.2% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,434,450 shares of the technology company’s stock worth $286,564,000 after purchasing an additional 905,612 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of NICE by 12.3% during the first quarter. William Blair Investment Management LLC now owns 1,364,561 shares of the technology company’s stock worth $355,631,000 after purchasing an additional 149,149 shares in the last quarter. Finally, Black Creek Investment Management Inc. grew its position in shares of NICE by 22.0% during the third quarter. Black Creek Investment Management Inc. now owns 1,144,309 shares of the technology company’s stock worth $194,533,000 after purchasing an additional 206,551 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.