NICE (NASDAQ:NICE) Shares Gap Down – Time to Sell?

NICE Ltd. (NASDAQ:NICE)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $199.17, but opened at $181.32. NICE shares last traded at $171.40, with a volume of 527,122 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup increased their price objective on shares of NICE from $330.00 to $334.00 and gave the company a “buy” rating in a research report on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $300.00 price objective on shares of NICE in a research note on Friday, August 16th. Barclays cut their target price on NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Jefferies Financial Group lowered their price target on NICE from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Friday. Finally, Oppenheimer lowered NICE from an “outperform” rating to a “market perform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $260.57.

NICE Stock Down 5.3 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 1.61 and a beta of 1.04. The business’s 50 day moving average price is $172.93 and its 200 day moving average price is $178.34.

NICE (NASDAQ:NICE) last released its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.58 by $0.06. The company had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business earned $1.63 earnings per share. On average, equities analysts forecast that NICE Ltd. will post 8.5 EPS for the current year.

Institutional Investors Weigh In On NICE

A number of institutional investors have recently modified their holdings of NICE. Creative Financial Designs Inc. ADV boosted its position in NICE by 208.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of NICE by 135.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after buying an additional 107 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in NICE in the 3rd quarter valued at $38,000. GAMMA Investing LLC grew its stake in NICE by 89.9% in the 3rd quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock valued at $43,000 after acquiring an additional 116 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in NICE in the 2nd quarter worth $72,000. 63.34% of the stock is currently owned by institutional investors and hedge funds.

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.