Nice (NASDAQ:NICE) Raised to Hold at DA Davidson

Nice (NASDAQ:NICE) was upgraded by equities researchers at DA Davidson to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also commented on NICE. Wall Street Zen lowered shares of Nice from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Wedbush reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nice in a report on Friday, June 20th. Morgan Stanley lowered their price target on shares of Nice from $235.00 to $202.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Rosenblatt Securities reissued a “buy” rating and set a $190.00 target price on shares of Nice in a research note on Wednesday, June 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Nice in a research note on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.75.

Nice Stock Performance

NASDAQ:NICE opened at $161.10 on Tuesday. Nice has a one year low of $137.19 and a one year high of $200.65. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 1.49 and a beta of 1.00. The firm’s fifty day moving average is $165.23 and its two-hundred day moving average is $160.39.

Nice (NASDAQ:NICE) last posted its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.84 by $0.03. Nice had a net margin of 16.77% and a return on equity of 16.37%. The company had revenue of $700.19 million for the quarter, compared to analyst estimates of $699.46 million. During the same period in the prior year, the company earned $2.58 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts predict that Nice will post 9.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC lifted its stake in Nice by 56.0% in the 1st quarter. Cerity Partners LLC now owns 9,986 shares of the technology company’s stock valued at $1,540,000 after buying an additional 3,584 shares in the last quarter. Brown Advisory Inc. purchased a new position in Nice in the 1st quarter valued at about $513,000. Heritage Family Offices LLP purchased a new position in Nice in the 1st quarter valued at about $584,000. ARK Investment Management LLC lifted its stake in Nice by 17.2% in the 1st quarter. ARK Investment Management LLC now owns 11,883 shares of the technology company’s stock valued at $1,832,000 after buying an additional 1,746 shares in the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in Nice in the 1st quarter valued at about $1,360,000. 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.