Citigroup Increases NICE (NASDAQ:NICE) Price Target to $334.00

NICE (NASDAQ:NICE) had its target price upped by investment analysts at Citigroup from $330.00 to $334.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective would suggest a potential upside of 83.33% from the stock’s current price.

NICE has been the topic of several other research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price target on shares of NICE in a research note on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $250.00 price target on shares of NICE in a research note on Friday, August 16th. JMP Securities reissued a “market outperform” rating and issued a $300.00 price objective on shares of NICE in a research note on Friday, August 16th. Northland Securities lowered their target price on NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, August 16th. Finally, Barclays decreased their price objective on NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $268.79.

NICE Stock Performance

NICE stock opened at $182.19 on Wednesday. NICE has a 1-year low of $151.52 and a 1-year high of $270.73. The company’s 50-day moving average is $172.66 and its 200 day moving average is $178.70. The firm has a market capitalization of $11.45 billion, a P/E ratio of 30.42, a price-to-earnings-growth 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 posted its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The company had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $664.10 million. During the same quarter in the previous year, the business earned $1.63 EPS. NICE’s revenue was up 14.3% compared to the same quarter last year. Research analysts forecast that NICE will post 8.5 EPS for the current year.

Institutional Trading of NICE

Several large investors have recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in shares of NICE by 4.0% during the first quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock worth $1,350,367,000 after purchasing an additional 201,035 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake 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 valued at $273,642,000 after acquiring an additional 279,375 shares during the period. Black Creek Investment Management Inc. increased its stake 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 worth $233,325,000 after acquiring an additional 250,334 shares during the period. Vulcan Value Partners LLC raised its holdings in shares of NICE by 49.7% during the second quarter. Vulcan Value Partners LLC now owns 1,188,371 shares of the technology company’s stock worth $204,168,000 after purchasing an additional 394,715 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in NICE by 12.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,056,537 shares of the technology company’s stock valued at $181,693,000 after purchasing an additional 117,749 shares during the last quarter. Hedge funds and other institutional investors own 63.34% of the company’s stock.

NICE Company Profile

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.