Citigroup Cuts NICE (NASDAQ:NICE) Price Target to $279.00

NICE (NASDAQ:NICE) had its price target trimmed by Citigroup from $315.00 to $279.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. DA Davidson lowered their price objective on shares of NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Oppenheimer cut shares of NICE from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. StockNews.com cut shares of NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price objective on shares of NICE in a research report on Friday, November 15th. Finally, Cantor Fitzgerald assumed coverage on shares of NICE in a report on Friday, January 17th. They set a “neutral” rating and a $176.00 price target on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $250.27.

NICE Stock Performance

NASDAQ NICE opened at $153.59 on Tuesday. The stock has a market capitalization of $9.66 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.23 and a beta of 1.06. NICE has a 1 year low of $147.38 and a 1 year high of $270.73. The business’s fifty day moving average is $170.71 and its two-hundred day moving average is $173.01.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, February 27th. The technology company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.96 by ($0.71). NICE had a return on equity of 15.31% and a net margin of 16.11%. On average, research analysts forecast that NICE will post 8.82 earnings per share for the current year.

Institutional Investors Weigh In On NICE

Large investors have recently bought and sold shares of the business. Bruni J V & Co. Co. bought a new stake in NICE in the third quarter worth $22,849,000. Asset Management One Co. Ltd. lifted its position in NICE by 13.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 47,214 shares of the technology company’s stock worth $8,200,000 after acquiring an additional 5,629 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in NICE by 106.5% during the 4th quarter. Clear Creek Financial Management LLC now owns 4,303 shares of the technology company’s stock worth $731,000 after acquiring an additional 2,219 shares during the last quarter. Kopion Asset Management LLC acquired a new position in NICE during the 4th quarter worth $7,433,000. Finally, Parnassus Investments LLC lifted its position in NICE by 1.5% during the 3rd quarter. Parnassus Investments LLC now owns 517,039 shares of the technology company’s stock worth $89,794,000 after acquiring an additional 7,635 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors.

About NICE

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.