NICE (NASDAQ:NICE) Downgraded to “Market Perform” Rating by Oppenheimer

Oppenheimer downgraded shares of NICE (NASDAQ:NICE) from an outperform rating to a market perform rating in a report released on Friday morning, Marketbeat Ratings reports.

Several other research analysts have also commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price objective on shares of NICE in a research note on Thursday, October 3rd. Citigroup upped their price target on shares of NICE from $330.00 to $334.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $300.00 price objective on shares of NICE in a research note on Friday, August 16th. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of NICE in a research report on Tuesday, August 13th. Finally, Northland Securities reduced their price target on NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, NICE has an average rating of “Moderate Buy” and a consensus target price of $260.57.

NICE Price Performance

NICE stock traded down $9.57 during midday trading on Friday, reaching $172.62. 1,165,943 shares of the stock traded hands, compared to its average volume of 525,258. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. NICE has a 12 month low of $151.52 and a 12 month high of $270.73. The stock’s fifty day moving average is $172.93 and its 200-day moving average is $178.34. The stock has a market cap of $10.85 billion, a P/E ratio of 28.82, a PEG ratio of 1.61 and a beta of 1.04.

NICE (NASDAQ:NICE) last issued its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.06. The company had revenue of $664.40 million for the quarter, compared to analysts’ expectations of $664.10 million. NICE had a return on equity of 14.68% and a net margin of 15.55%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 earnings per share. As a group, equities research analysts anticipate that NICE will post 8.5 EPS for the current year.

Institutional Trading of NICE

Hedge funds have recently modified their holdings of the company. Creative Financial Designs Inc. ADV grew its position in shares of NICE by 208.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in NICE by 135.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock worth $32,000 after purchasing an additional 107 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of NICE during the third quarter worth $38,000. GAMMA Investing LLC lifted its holdings in shares of NICE by 89.9% during the 3rd quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock valued at $43,000 after purchasing an additional 116 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of NICE in the 2nd quarter worth $72,000. 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.