NICE (NASDAQ:NICE) Downgraded by Oppenheimer to Market Perform

NICE (NASDAQ:NICE) was downgraded by equities research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, MarketBeat.com reports.

Other research analysts have also issued research reports about the stock. Wedbush reaffirmed an “outperform” rating and set a $250.00 target price on shares of NICE in a report on Friday, August 16th. JMP Securities restated a “market outperform” rating and set a $300.00 price objective on shares of NICE in a research note on Friday, August 16th. Barclays dropped their price objective on NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Citigroup increased their target price on NICE from $330.00 to $334.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price target on shares of NICE in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $260.57.

NICE Stock Performance

NASDAQ:NICE opened at $172.62 on Friday. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. The stock has a market cap of $10.85 billion, a P/E ratio of 26.72, a PEG ratio of 1.40 and a beta of 1.04. The stock has a 50 day simple moving average of $172.93 and a 200 day simple moving average of $178.02. NICE has a 1-year low of $151.52 and a 1-year high of $270.73.

NICE (NASDAQ:NICE) last released its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.58 by $0.06. NICE had a net margin of 16.11% and a return on equity of 15.48%. The business had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. During the same period in the prior year, the company posted $1.63 earnings per share. NICE’s revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that NICE will post 8.58 earnings per share for the current year.

Institutional Trading of NICE

A number of hedge funds and other institutional investors have recently modified their holdings of NICE. Vulcan Value Partners LLC raised its position in NICE by 49.7% in the second 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 last quarter. Migdal Insurance & Financial Holdings Ltd. grew 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 worth $273,642,000 after acquiring an additional 279,375 shares during the last quarter. Acadian Asset Management LLC increased its position in NICE by 63.2% in the 2nd quarter. Acadian Asset Management LLC now owns 694,050 shares of the technology company’s stock valued at $119,317,000 after acquiring an additional 268,677 shares during the period. Marshall Wace LLP acquired a new position in NICE during the 2nd quarter worth about $44,076,000. Finally, Black Creek Investment Management Inc. boosted its holdings in NICE by 22.6% in the second quarter. Black Creek Investment Management Inc. now owns 1,356,775 shares of the technology company’s stock valued at $233,325,000 after acquiring an additional 250,334 shares during the last quarter. 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.