NICE (NASDAQ:NICE) Downgraded to Buy Rating by StockNews.com

StockNews.com downgraded shares of NICE (NASDAQ:NICE) from a strong-buy rating to a buy rating in a research note published on Tuesday morning.

Other equities research analysts have also issued research reports about the stock. DA Davidson lowered their target price on shares of NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Northland Securities dropped their price target on NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. 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. Piper Sandler reissued a “neutral” rating on shares of NICE in a report on Thursday, November 14th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $200.00 price objective (down previously from $215.00) on shares of NICE in a research report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $259.50.

NICE Stock Up 1.0 %

Shares of NICE opened at $175.42 on Tuesday. The stock’s 50-day moving average price is $180.76 and its 200 day moving average price is $174.27. NICE has a 12-month low of $151.52 and a 12-month high of $270.73. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 1.46 and a beta of 1.05.

Institutional Trading of NICE

Several institutional investors and hedge funds have recently added to or reduced their stakes in NICE. Vulcan Value Partners LLC raised its holdings in shares of NICE by 49.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,188,371 shares of the technology company’s stock valued at $204,168,000 after purchasing an additional 394,715 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings 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 valued at $273,642,000 after purchasing an additional 279,375 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of NICE by 63.2% in the second quarter. Acadian Asset Management LLC now owns 694,050 shares of the technology company’s stock valued at $119,317,000 after purchasing an additional 268,677 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of NICE during the 2nd quarter worth about $44,076,000. Finally, Black Creek Investment Management Inc. boosted its holdings in shares of NICE by 22.6% during the 2nd quarter. Black Creek Investment Management Inc. now owns 1,356,775 shares of the technology company’s stock worth $233,325,000 after buying an additional 250,334 shares during the period. 63.34% of the stock is 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.