NICE (NASDAQ:NICE) Shares Up 5.3% – Time to Buy?

NICE Ltd. (NASDAQ:NICE)’s stock price rose 5.3% on Monday . The stock traded as high as $170.01 and last traded at $170.49. Approximately 115,637 shares were traded during trading, a decline of 72% from the average daily volume of 406,989 shares. The stock had previously closed at $161.88.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Cantor Fitzgerald began coverage on NICE in a research report on Friday, January 17th. They set a “neutral” rating and a $176.00 price objective for the company. Northland Securities dropped their price objective on shares of NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Oppenheimer lowered shares of NICE from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Citigroup upped their price target on shares of NICE from $330.00 to $334.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler reissued a “neutral” rating on shares of NICE in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $253.93.

NICE Price Performance

The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.15 and a beta of 1.06. The firm’s 50 day moving average price is $175.05 and its 200-day moving average price is $174.02.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. grew its position in NICE by 6.8% during the second quarter. American Century Companies Inc. now owns 4,569 shares of the technology company’s stock worth $786,000 after buying an additional 289 shares in the last quarter. ProShare Advisors LLC increased its position in shares of NICE by 49.5% during the second quarter. ProShare Advisors LLC now owns 1,796 shares of the technology company’s stock valued at $309,000 after purchasing an additional 595 shares during the period. Driehaus Capital Management LLC raised its stake in shares of NICE by 3.3% in the second quarter. Driehaus Capital Management LLC now owns 65,362 shares of the technology company’s stock valued at $11,240,000 after purchasing an additional 2,089 shares in the last quarter. Creative Planning lifted its position in NICE by 9.9% in the second quarter. Creative Planning now owns 7,391 shares of the technology company’s stock worth $1,271,000 after purchasing an additional 666 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its holdings in NICE by 21.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 1,708 shares of the technology company’s stock valued at $294,000 after buying an additional 300 shares during the period. Institutional investors own 63.34% of the company’s stock.

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.