NICE’s (NICE) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of NICE (NASDAQ:NICE) in a research note published on Friday,Benzinga reports. The firm currently has a $260.00 price objective on the technology company’s stock.

Other analysts have also recently issued reports about the company. Barclays dropped their target price on shares of NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Oppenheimer lowered shares of NICE from an “outperform” rating to a “market perform” rating in a report on Friday. Wedbush reiterated an “outperform” rating and set a $250.00 target price on shares of NICE in a report on Friday, August 16th. DA Davidson cut their price target on NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Finally, Northland Securities decreased their price objective on NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a report on Friday. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, NICE presently has an average rating of “Moderate Buy” and an average target price of $260.57.

NICE Stock Performance

Shares of NASDAQ:NICE opened at $172.62 on Friday. The firm’s 50 day simple moving average is $172.93 and its 200 day simple moving average is $177.72. NICE has a fifty-two week low of $151.52 and a fifty-two week high of $270.73. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 1.40 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45.

NICE (NASDAQ:NICE) last announced its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.06. NICE had a net margin of 16.11% and a return on equity of 15.48%. The company had revenue of $664.40 million for the quarter, compared to analysts’ expectations of $664.10 million. During the same period last year, the firm posted $1.63 earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts forecast that NICE will post 8.58 earnings per share for the current year.

Institutional Trading of NICE

A number of large investors have recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV raised its holdings 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 valued at $26,000 after purchasing an additional 100 shares during the period. Allspring Global Investments Holdings LLC raised its stake in NICE by 135.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after buying an additional 107 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of NICE in the third quarter valued at approximately $38,000. GAMMA Investing LLC increased 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 worth $43,000 after acquiring an additional 116 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in NICE in the 2nd quarter valued at $72,000. Institutional investors and hedge funds own 63.34% of the company’s stock.

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.