NICE (NASDAQ:NICE) Cut to “Buy” at StockNews.com

NICE (NASDAQ:NICE) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $200.00 target price (down previously from $215.00) on shares of NICE in a report on Thursday, December 19th. Piper Sandler reaffirmed a “neutral” rating on shares of NICE in a research note on Thursday, November 14th. Cantor Fitzgerald assumed coverage on shares of NICE in a research note on Friday, January 17th. They issued a “neutral” rating and a $176.00 target price on the stock. DA Davidson lowered their target price on NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price target on shares of NICE in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $253.93.

NICE Price Performance

NICE stock traded down $1.74 during trading on Monday, hitting $176.49. The stock had a trading volume of 347,162 shares, compared to its average volume of 504,483. NICE has a twelve month low of $151.52 and a twelve month high of $270.73. The company’s 50-day moving average price is $171.67 and its two-hundred day moving average price is $173.07. The stock has a market capitalization of $11.10 billion, a P/E ratio of 27.32, a PEG ratio of 1.22 and a beta of 1.06.

Institutional Investors Weigh In On NICE

A number of institutional investors and hedge funds have recently made changes to their positions in NICE. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in NICE in the 4th quarter valued at approximately $313,808,000. FIL Ltd purchased a new position in shares of NICE during the fourth quarter worth $70,465,000. New South Capital Management Inc. acquired a new stake in shares of NICE in the fourth quarter valued at $54,980,000. Deutsche Bank AG raised its holdings in shares of NICE by 95.7% in the 4th quarter. Deutsche Bank AG now owns 606,341 shares of the technology company’s stock valued at $102,981,000 after buying an additional 296,514 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in NICE by 21.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock worth $273,642,000 after acquiring an additional 279,375 shares in the last quarter. 63.34% of the stock is owned by hedge funds and other 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.