Jefferies Financial Group Cuts NICE (NASDAQ:NICE) Price Target to $215.00

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

Several other equities analysts have also issued reports on the company. Citigroup lifted their target price on NICE from $330.00 to $334.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price objective on shares of NICE in a research note on Friday. Northland Securities lowered their target price on shares of NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $300.00 price target on shares of NICE in a research report on Friday, August 16th. Finally, Barclays lowered their price objective on NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, NICE presently has a consensus rating of “Moderate Buy” and an average target price of $260.57.

NICE Stock Down 4.6 %

Shares of NASDAQ:NICE traded down $8.29 during trading hours on Friday, hitting $173.90. The company’s stock had a trading volume of 583,214 shares, compared to its average volume of 522,633. The firm’s fifty day moving average price is $172.66 and its 200 day moving average price is $178.70. NICE has a 52 week low of $151.52 and a 52 week high of $270.73. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 1.61 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 earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.06. The business 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 business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS. As a group, research analysts expect that NICE will post 8.5 EPS for the current year.

Institutional Trading of NICE

Large investors have recently made changes to their positions in the company. Creative Financial Designs Inc. ADV lifted its position in NICE by 208.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 acquiring an additional 107 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of NICE during the third quarter worth approximately $38,000. GAMMA Investing LLC increased its holdings in shares of NICE by 89.9% in the 3rd quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock valued at $43,000 after acquiring an additional 116 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in NICE in the 2nd quarter valued at $72,000. 63.34% of the stock is currently 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.