NICE (NASDAQ:NICE) Stock Price Down 4.5% – Here’s Why

NICE Ltd. (NASDAQ:NICE) shares traded down 4.5% during trading on Thursday . The company traded as low as $173.13 and last traded at $173.56. 180,414 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 512,702 shares. The stock had previously closed at $181.75.

Analyst Upgrades and Downgrades

NICE has been the subject of several research reports. Piper Sandler restated a “neutral” rating on shares of NICE in a research report on Thursday, November 14th. Oppenheimer downgraded NICE from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Northland Securities lowered their price objective on NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Jefferies Financial Group restated a “hold” rating and issued a $200.00 price target (down from $215.00) on shares of NICE in a research note on Thursday. Finally, StockNews.com upgraded shares of NICE from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NICE currently has an average rating of “Moderate Buy” and a consensus price target of $259.50.

NICE Trading Down 3.0 %

The firm has a 50-day moving average of $180.50 and a two-hundred day moving average of $174.09. The firm has a market capitalization of $11.09 billion, a P/E ratio of 27.30, a P/E/G ratio of 1.46 and a beta of 1.05.

Institutional Investors Weigh In On NICE

A number of hedge funds have recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV lifted its stake in 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 last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of NICE by 135.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock worth $32,000 after buying an additional 107 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of NICE in the 3rd quarter valued at $38,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of NICE during the 3rd quarter valued at $41,000. Finally, GAMMA Investing LLC grew its position in 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. 63.34% of the stock is currently owned by institutional investors and hedge funds.

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.