NICE (NASDAQ:NICE) Trading Down 4.5% – Should You Sell?

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on NICE shares. Northland Securities dropped their price target on NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Piper Sandler reaffirmed a “neutral” rating on shares of NICE in a research note on Thursday, November 14th. DA Davidson cut their price objective on shares of NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 target price on shares of NICE in a research report on Friday, November 15th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $200.00 price target (down from $215.00) on shares of NICE in a research report on Thursday. Three research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.50.

NICE Stock Performance

The firm has a market cap of $11.07 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.46 and a beta of 1.05. The firm’s fifty day moving average is $180.80 and its 200 day moving average is $174.08.

Institutional Trading of NICE

Several institutional investors have recently added to or reduced their stakes in NICE. Wealth Enhancement Advisory Services LLC boosted its position in shares of NICE by 18.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,771 shares of the technology company’s stock valued at $305,000 after acquiring an additional 279 shares during the period. Fifth Third Bancorp increased its holdings in shares of NICE by 18.6% during the second quarter. Fifth Third Bancorp now owns 989 shares of the technology company’s stock worth $170,000 after purchasing an additional 155 shares during the period. Clear Creek Financial Management LLC acquired a new stake in shares of NICE in the second quarter valued at approximately $353,000. Raymond James Trust N.A. lifted its position in shares of NICE by 100.8% during the 2nd quarter. Raymond James Trust N.A. now owns 7,537 shares of the technology company’s stock valued at $1,296,000 after acquiring an additional 3,783 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in NICE by 182.6% during the second quarter. Bank of New York Mellon Corp now owns 24,436 shares of the technology company’s stock worth $4,202,000 after purchasing an additional 15,788 shares during the period. 63.34% of the stock is currently owned by 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.