NICE Ltd. (NASDAQ:NICE) Short Interest Update

NICE Ltd. (NASDAQ:NICE) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,710,000 shares, an increase of 21.5% from the January 15th total of 2,230,000 shares. Based on an average daily volume of 501,600 shares, the days-to-cover ratio is currently 5.4 days. Approximately 4.3% of the company’s shares are short sold.

Hedge Funds Weigh In On NICE

Several large investors have recently modified their holdings of the stock. First Manhattan CO. LLC. raised its position in shares of NICE by 15.5% in the fourth quarter. First Manhattan CO. LLC. now owns 488,520 shares of the technology company’s stock valued at $86,845,000 after purchasing an additional 65,726 shares during the period. Deutsche Bank AG grew its stake in NICE by 95.7% during the fourth quarter. Deutsche Bank AG now owns 606,341 shares of the technology company’s stock worth $102,981,000 after buying an additional 296,514 shares in the last quarter. Baird Financial Group Inc. grew its stake in NICE by 1.7% during the fourth quarter. Baird Financial Group Inc. now owns 6,059 shares of the technology company’s stock worth $1,029,000 after buying an additional 100 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in NICE by 0.7% during the fourth quarter. Baker Avenue Asset Management LP now owns 16,794 shares of the technology company’s stock worth $2,852,000 after buying an additional 111 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in NICE by 15.1% during the fourth quarter. Ameriprise Financial Inc. now owns 15,018 shares of the technology company’s stock worth $2,551,000 after buying an additional 1,974 shares in the last quarter. 63.34% of the stock is owned by institutional investors.

NICE Price Performance

NASDAQ NICE traded down $1.74 on Monday, hitting $176.49. 347,162 shares of the stock were exchanged, compared to its average volume of 504,483. The company has a market capitalization of $11.10 billion, a PE ratio of 27.32, a P/E/G ratio of 1.22 and a beta of 1.06. The business’s fifty day moving average is $171.87 and its 200 day moving average is $173.07. NICE has a 52 week low of $151.52 and a 52 week high of $270.73.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NICE. Cantor Fitzgerald initiated coverage on shares of NICE in a report on Friday, January 17th. They set a “neutral” rating and a $176.00 price objective for the company. StockNews.com upgraded shares of NICE from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Citigroup upped their price target on shares of NICE from $330.00 to $334.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. DA Davidson reduced their price target on shares of NICE from $300.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Finally, Oppenheimer cut shares of NICE from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NICE currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.93.

NICE Company Profile

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.