Zacks Research Downgrades NiCE (NASDAQ:NICE) to Strong Sell

NiCE (NASDAQ:NICE) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley dropped their target price on NiCE from $193.00 to $160.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Jefferies Financial Group lowered their target price on NiCE from $152.00 to $136.00 and set a “hold” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of NiCE in a research note on Monday. Citigroup lifted their price target on NiCE from $209.00 to $211.00 and gave the company a “buy” rating in a report on Friday, November 14th. Finally, Citizens Jmp reduced their price objective on NiCE from $300.00 to $200.00 and set a “market outperform” rating on the stock in a research note on Friday, November 14th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, NiCE has an average rating of “Hold” and a consensus price target of $159.77.

NiCE Trading Down 1.0%

Shares of NASDAQ NICE opened at $111.93 on Thursday. The stock has a market capitalization of $7.08 billion, a PE ratio of 12.72, a PEG ratio of 1.67 and a beta of 0.97. NiCE has a twelve month low of $99.00 and a twelve month high of $180.61. The stock has a fifty day simple moving average of $115.24 and a 200-day simple moving average of $137.07.

Institutional Investors Weigh In On NiCE

A number of institutional investors have recently made changes to their positions in the company. Federation des caisses Desjardins du Quebec raised its position in shares of NiCE by 424.4% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 12,759 shares of the technology company’s stock worth $1,967,000 after purchasing an additional 10,326 shares during the period. AQR Capital Management LLC bought a new stake in shares of NiCE during the first quarter valued at approximately $226,000. Alliancebernstein L.P. raised its stake in NiCE by 1,125.3% during the 1st quarter. Alliancebernstein L.P. now owns 768,737 shares of the technology company’s stock valued at $118,516,000 after acquiring an additional 705,997 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in NiCE in the 1st quarter valued at about $9,472,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of NiCE by 81.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 229,813 shares of the technology company’s stock worth $35,430,000 after acquiring an additional 103,342 shares during the period. 63.34% of the stock is currently owned by institutional investors.

NiCE Company Profile

NiCE Ltd is a global software provider specializing in solutions for customer engagement, financial crime prevention, public safety, workforce optimization and border security. Its product offerings include cloud-native and on-premises platforms that leverage advanced analytics, artificial intelligence and automation to help organizations enhance customer experiences, streamline operations and ensure regulatory compliance. NiCE’s portfolio addresses the needs of contact centers, financial institutions, government agencies and enterprises across a broad range of industries.

In customer engagement, NiCE delivers tools for omnichannel interaction management, real-time and historical analytics, workforce management, and quality management.