NICE’s (NICE) “Outperform” Rating Reaffirmed at Royal Bank of Canada

NICE (NASDAQ:NICE)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research note issued on Friday,Benzinga reports. They currently have a $260.00 price objective on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 47.64% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Wedbush reiterated an “outperform” rating and set a $250.00 price objective on shares of NICE in a report on Friday, August 16th. Northland Securities decreased their target price on NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday. Piper Sandler reissued a “neutral” rating on shares of NICE in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $300.00 target price on shares of NICE in a report on Friday, August 16th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of NICE in a research note on Tuesday, August 13th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $261.64.

NICE Stock Down 3.3 %

NICE traded down $6.08 during midday trading on Friday, hitting $176.11. 507,274 shares of the company’s stock traded hands, compared to its average volume of 522,151. The company has a market cap of $11.07 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04. The stock’s fifty day simple moving average is $172.66 and its 200-day simple moving average is $178.70. 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 has a one year low of $151.52 and a one year high of $270.73.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its holdings in NICE by 4.0% in the 1st quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock valued at $1,350,367,000 after purchasing an additional 201,035 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in NICE by 21.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock worth $273,642,000 after purchasing an additional 279,375 shares in the last quarter. Black Creek Investment Management Inc. raised its position in shares of NICE by 22.6% in the second quarter. Black Creek Investment Management Inc. now owns 1,356,775 shares of the technology company’s stock valued at $233,325,000 after buying an additional 250,334 shares during the last quarter. Vulcan Value Partners LLC boosted its stake in NICE by 49.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,188,371 shares of the technology company’s stock worth $204,168,000 after buying an additional 394,715 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of NICE by 12.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,056,537 shares of the technology company’s stock valued at $181,693,000 after buying an additional 117,749 shares during the period. Institutional investors and hedge funds 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.