NICE (NASDAQ:NICE) Price Target Cut to $215.00 by Analysts at Jefferies Financial Group

NICE (NASDAQ:NICE) had its price target decreased by analysts at Jefferies Financial Group from $230.00 to $215.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price target points to a potential upside of 23.63% from the stock’s previous close.

A number of other brokerages also recently commented on NICE. Northland Securities lowered their price objective on NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday. JMP Securities reiterated a “market outperform” rating and set a $300.00 price objective on shares of NICE in a research note on Friday, August 16th. Oppenheimer lowered shares of NICE from an “outperform” rating to a “market perform” rating in a report on Friday. DA Davidson cut their target price on shares of NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of NICE in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, NICE has a consensus rating of “Moderate Buy” and a consensus price target of $260.57.

NICE Stock Performance

NICE traded down $8.29 during trading on Friday, hitting $173.90. The stock had a trading volume of 583,214 shares, compared to its average volume of 522,633. NICE has a twelve month low of $151.52 and a twelve month high of $270.73. The firm has a market capitalization of $10.93 billion, a P/E ratio of 29.03, a PEG ratio of 1.61 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45. The company’s 50-day moving average price is $172.66 and its 200 day moving average price is $178.70.

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

Hedge Funds Weigh In On NICE

Several large investors have recently made changes to their positions in the company. Capital Research Global Investors raised its position in shares of NICE by 4.0% during the 1st quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock valued at $1,350,367,000 after acquiring an additional 201,035 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in NICE by 21.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock valued at $273,642,000 after purchasing an additional 279,375 shares during the last quarter. Black Creek Investment Management Inc. lifted its stake 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 buying an additional 250,334 shares during the period. Vulcan Value Partners LLC lifted its stake 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 buying an additional 394,715 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of NICE by 12.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,056,537 shares of the technology company’s stock worth $181,693,000 after buying an additional 117,749 shares during the period. 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.