Nice (NASDAQ:NICE) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Nice (NASDAQ:NICE) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “NICE Ltd. provides enterprise software solutions. Its operating segment consists of Customer Interactions Solutions, Financial Crime and Compliance Solutions. The Company’s solutions include integrated, multimedia recording platforms, software applications and related professional services. NICE Ltd., formerly known as NICE-Systems Ltd., is headquartered in Ra’anana, Israel. “

A number of other brokerages have also issued reports on NICE. JMP Securities raised their target price on shares of Nice from $164.00 to $185.00 and gave the stock a market outperform rating in a research report on Friday, August 9th. Morgan Stanley set a $140.00 target price on shares of Nice and gave the stock a hold rating in a research report on Friday, August 9th. BidaskClub lowered shares of Nice from a buy rating to a hold rating in a research report on Friday, September 13th. Rosenblatt Securities initiated coverage on shares of Nice in a research note on Wednesday, September 4th. They set a buy rating and a $187.00 price target on the stock. Finally, Jefferies Financial Group increased their price target on shares of Nice from $166.00 to $179.00 and gave the stock a buy rating in a research note on Friday, August 9th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $153.92.

Shares of NASDAQ NICE opened at $150.82 on Tuesday. Nice has a 1 year low of $100.54 and a 1 year high of $155.76. The firm’s 50 day moving average price is $151.78 and its 200 day moving average price is $138.48. The firm has a market cap of $9.21 billion, a P/E ratio of 39.17, a price-to-earnings-growth ratio of 3.00 and a beta of 0.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.28 and a current ratio of 1.28.

Nice (NASDAQ:NICE) last announced its earnings results on Thursday, August 8th. The technology company reported $1.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.02. Nice had a net margin of 11.85% and a return on equity of 12.09%. The firm had revenue of $381.40 million for the quarter, compared to analyst estimates of $378.80 million. During the same quarter last year, the business earned $1.06 earnings per share. Nice’s revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Nice will post 4.42 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Invesco Ltd. purchased a new position in Nice during the second quarter worth approximately $372,502,000. OppenheimerFunds Inc. raised its stake in shares of Nice by 6.6% in the 1st quarter. OppenheimerFunds Inc. now owns 2,691,376 shares of the technology company’s stock valued at $329,720,000 after acquiring an additional 166,110 shares during the period. William Blair Investment Management LLC raised its stake in shares of Nice by 22.1% in the 2nd quarter. William Blair Investment Management LLC now owns 1,351,820 shares of the technology company’s stock valued at $185,185,000 after acquiring an additional 244,874 shares during the period. Acadian Asset Management LLC raised its stake in shares of Nice by 10.3% in the 2nd quarter. Acadian Asset Management LLC now owns 715,421 shares of the technology company’s stock valued at $98,012,000 after acquiring an additional 66,561 shares during the period. Finally, American Capital Management Inc. raised its stake in shares of Nice by 0.8% in the 1st quarter. American Capital Management Inc. now owns 584,353 shares of the technology company’s stock valued at $71,589,000 after acquiring an additional 4,448 shares during the period. 48.02% of the stock is currently owned by institutional investors.

Nice Company Profile

NICE Ltd. provides enterprise software solutions worldwide. The company operates in two segments, Customer Engagement, and Financial Crime and Compliance. The Customer Engagement segment offers platform and solutions that empower businesses to deliver consistent and personalized experience across the customer journey, and optimize business performance and ensure compliance.

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