NICE (NASDAQ:NICE) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of NICE (NASDAQ:NICE) in a research note published on Thursday, Benzinga reports. They currently have a $260.00 price target on the technology company’s stock.

Several other analysts have also issued reports on the stock. Wedbush reiterated an outperform rating and issued a $250.00 target price on shares of NICE in a research report on Friday, August 16th. Rosenblatt Securities reiterated a buy rating and set a $225.00 price objective on shares of NICE in a research note on Tuesday, August 13th. Barclays decreased their target price on NICE from $320.00 to $286.00 and set an overweight rating on the stock in a research report on Thursday, July 25th. Piper Sandler dropped their price target on NICE from $238.00 to $213.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Finally, Northland Securities reduced their price objective on NICE from $305.00 to $275.00 and set an outperform rating for the company in a research note on Friday, August 16th. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, NICE has a consensus rating of Buy and an average price target of $269.64.

NICE Price Performance

NASDAQ:NICE opened at $171.03 on Thursday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. NICE has a 52 week low of $149.54 and a 52 week high of $270.73. The stock’s 50-day moving average price is $169.68 and its 200-day moving average price is $191.87. The stock has a market capitalization of $10.75 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05.

NICE (NASDAQ:NICE) last issued its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.58 by $0.06. The company had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. NICE had a return on equity of 14.68% and a net margin of 15.55%. NICE’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $1.63 earnings per share. As a group, equities analysts expect that NICE will post 8.5 EPS for the current fiscal year.

Institutional Trading of NICE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NICE. First Hawaiian Bank acquired a new stake in shares of NICE in the second quarter valued at $516,000. Diversified Trust Co increased its stake in NICE by 237.9% during the second quarter. Diversified Trust Co now owns 6,478 shares of the technology company’s stock worth $1,114,000 after purchasing an additional 4,561 shares during the period. Capital World Investors acquired a new stake in shares of NICE during the first quarter worth about $9,699,000. Bayesian Capital Management LP boosted its stake in shares of NICE by 160.6% in the first quarter. Bayesian Capital Management LP now owns 7,465 shares of the technology company’s stock valued at $1,946,000 after purchasing an additional 4,600 shares during the period. Finally, QRG Capital Management Inc. acquired a new position in shares of NICE in the first quarter valued at approximately $813,000. Hedge funds and other 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.