Short Interest in NICE Ltd. (NASDAQ:NICE) Decreases By 21.0%

NICE Ltd. (NASDAQ:NICE) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 1,690,000 shares, a drop of 21.0% from the November 30th total of 2,140,000 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average trading volume of 506,500 shares, the days-to-cover ratio is currently 3.3 days.

Hedge Funds Weigh In On NICE

A number of large investors have recently modified their holdings of the stock. Bruni J V & Co. Co. bought a new position in NICE in the 3rd quarter worth approximately $22,849,000. Asset Management One Co. Ltd. raised its position in shares of NICE by 13.5% during the third quarter. Asset Management One Co. Ltd. now owns 47,214 shares of the technology company’s stock worth $8,200,000 after acquiring an additional 5,629 shares during the last quarter. Parnassus Investments LLC lifted its stake in shares of NICE by 1.5% during the third quarter. Parnassus Investments LLC now owns 517,039 shares of the technology company’s stock valued at $89,794,000 after acquiring an additional 7,635 shares during the period. Buckingham Capital Management Inc. boosted its holdings in NICE by 43.5% in the third quarter. Buckingham Capital Management Inc. now owns 19,214 shares of the technology company’s stock valued at $3,337,000 after acquiring an additional 5,829 shares during the last quarter. Finally, Osborne Partners Capital Management LLC increased its position in NICE by 6.4% in the third quarter. Osborne Partners Capital Management LLC now owns 67,821 shares of the technology company’s stock worth $11,778,000 after purchasing an additional 4,080 shares during the period. 63.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NICE. Oppenheimer cut NICE from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Jefferies Financial Group reissued a “hold” rating and issued a $200.00 price target (down previously from $215.00) on shares of NICE in a report on Thursday, December 19th. StockNews.com downgraded shares of NICE from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 24th. 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 research note on Friday, November 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $260.00 price target on shares of NICE in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, NICE currently has a consensus rating of “Moderate Buy” and an average target price of $259.50.

NICE Trading Down 1.5 %

NASDAQ NICE traded down $2.57 on Friday, hitting $173.45. 197,145 shares of the company were exchanged, compared to its average volume of 509,326. NICE has a 1-year low of $151.52 and a 1-year high of $270.73. The firm has a 50 day moving average of $180.53 and a two-hundred day moving average of $174.28. The company has a market cap of $10.90 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.46 and a beta of 1.05.

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.