NiCE (NASDAQ:NICE) Hits New 1-Year Low – Should You Sell?

NiCE (NASDAQ:NICE)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $96.44 and last traded at $97.73, with a volume of 451071 shares traded. The stock had previously closed at $103.55.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NICE shares. Piper Sandler reiterated a “neutral” rating and set a $122.00 price objective on shares of NiCE in a research report on Tuesday, December 23rd. Mizuho dropped their price target on shares of NiCE from $185.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, November 18th. Royal Bank Of Canada reduced their price target on NiCE from $190.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 18th. Barclays dropped their price target on NiCE from $200.00 to $165.00 and set an “overweight” rating for the company in a research note on Wednesday, November 19th. Finally, Jefferies Financial Group reduced their price target on shares of NiCE from $152.00 to $136.00 and set a “hold” rating on the stock in a research report on Tuesday, November 18th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $156.42.

NiCE Stock Performance

The company has a market cap of $6.03 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.58 and a beta of 0.96. The company has a fifty day moving average of $111.58 and a two-hundred day moving average of $125.67.

Institutional Investors Weigh In On NiCE

Several hedge funds have recently added to or reduced their stakes in NICE. AQR Capital Management LLC acquired a new position in NiCE in the 1st quarter valued at approximately $226,000. Goldman Sachs Group Inc. increased its holdings in NiCE by 81.7% in the first quarter. Goldman Sachs Group Inc. now owns 229,813 shares of the technology company’s stock valued at $35,430,000 after purchasing an additional 103,342 shares during the period. Empowered Funds LLC bought a new position in NiCE during the 1st quarter worth $892,000. Woodline Partners LP lifted its holdings in NiCE by 18.7% during the 1st quarter. Woodline Partners LP now owns 20,140 shares of the technology company’s stock worth $3,105,000 after buying an additional 3,178 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of NiCE by 55.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,998 shares of the technology company’s stock valued at $844,000 after buying an additional 1,773 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors and hedge funds.

About NiCE

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.