Rosenblatt Securities Initiates Coverage on NICE (NASDAQ:NICE)

Rosenblatt Securities started coverage on shares of NICE (NASDAQ:NICE) in a report released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $285.00 price target on the technology company’s stock.

A number of other equities research analysts have also weighed in on NICE. JMP Securities restated a market outperform rating and issued a $343.00 target price on shares of NICE in a report on Friday, February 23rd. Northland Securities assumed coverage on shares of NICE in a report on Tuesday, January 30th. They issued an outperform rating and a $300.00 target price on the stock. Citigroup upped their target price on shares of NICE from $283.00 to $334.00 and gave the stock a buy rating in a report on Wednesday, February 21st. TheStreet upgraded shares of NICE from a c+ rating to a b- rating in a report on Tuesday, February 6th. Finally, DA Davidson upgraded shares of NICE from a neutral rating to a buy rating and increased their price objective for the company from $250.00 to $300.00 in a research note on Wednesday, March 13th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of Buy and an average price target of $291.00.

NICE Price Performance

NICE stock opened at $225.48 on Tuesday. The stock has a market capitalization of $14.18 billion, a PE ratio of 44.30, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. The company’s 50-day moving average is $241.56 and its 200-day moving average is $209.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.06 and a quick ratio of 2.06. NICE has a 1 year low of $149.54 and a 1 year high of $270.73.

NICE (NASDAQ:NICE) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.10. NICE had a net margin of 14.23% and a return on equity of 13.29%. The company had revenue of $623.20 million for the quarter, compared to analysts’ expectations of $616.83 million. During the same quarter in the prior year, the firm earned $1.40 EPS. The business’s revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that NICE will post 8.21 EPS for the current fiscal year.

Institutional Investors Weigh In On NICE

Several large investors have recently modified their holdings of the stock. Capital International Investors increased its stake in shares of NICE by 16.2% during the 4th quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock worth $426,402,000 after purchasing an additional 298,112 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in NICE by 1.2% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,436,177 shares of the technology company’s stock worth $244,150,000 after buying an additional 16,513 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its holdings in NICE by 171.2% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,434,450 shares of the technology company’s stock worth $286,564,000 after buying an additional 905,612 shares during the period. Black Creek Investment Management Inc. boosted its holdings in NICE by 22.0% in the 3rd quarter. Black Creek Investment Management Inc. now owns 1,144,309 shares of the technology company’s stock worth $194,533,000 after buying an additional 206,551 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in NICE by 0.6% in the 3rd quarter. William Blair Investment Management LLC now owns 1,017,406 shares of the technology company’s stock worth $172,929,000 after buying an additional 5,803 shares during the period. 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.