DA Davidson Cuts Nice (NASDAQ:NICE) Price Target to $150.00

Nice (NASDAQ:NICE) had its price target reduced by DA Davidson from $195.00 to $150.00 in a research note released on Thursday,Benzinga reports. DA Davidson currently has a neutral rating on the technology company’s stock.

Several other research analysts have also recently issued reports on NICE. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 target price on shares of Nice in a report on Tuesday, July 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $190.00 target price on shares of Nice in a report on Wednesday, June 18th. Wall Street Zen cut 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 target price on shares of Nice in a report on Friday, June 20th. Finally, Citigroup decreased their target price on shares of Nice from $214.00 to $211.00 and set a “buy” rating for the company in a report on Monday, May 19th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.25.

Nice Price Performance

Shares of NASDAQ NICE opened at $133.16 on Thursday. Nice has a 1 year low of $127.00 and a 1 year high of $200.65. The stock has a market cap of $8.42 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 1.21 and a beta of 0.98. The firm has a 50-day moving average of $160.39 and a 200 day moving average of $158.84.

Nice (NASDAQ:NICE) last issued its quarterly earnings results on Thursday, August 14th. The technology company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.02. The company had revenue of $726.71 million during the quarter, compared to analysts’ expectations of $713.18 million. Nice had a net margin of 18.92% and a return on equity of 17.64%. Nice’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $2.64 EPS. Research analysts expect that Nice will post 9.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nice

A number of hedge funds have recently modified their holdings of NICE. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Nice in the fourth quarter worth approximately $313,808,000. Alliancebernstein L.P. boosted its position in shares of Nice by 1,125.3% in the first quarter. Alliancebernstein L.P. now owns 768,737 shares of the technology company’s stock worth $118,516,000 after purchasing an additional 705,997 shares during the period. Lazard Asset Management LLC boosted its position in shares of Nice by 116.1% in the second quarter. Lazard Asset Management LLC now owns 1,226,920 shares of the technology company’s stock worth $207,238,000 after purchasing an additional 659,170 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Nice in the first quarter worth $98,485,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Nice by 218.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 908,014 shares of the technology company’s stock worth $139,989,000 after buying an additional 623,014 shares in the last quarter. 63.34% of the stock is currently owned by institutional investors.

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.