NICE’s (NICE) Outperform Rating Reaffirmed at Royal Bank of Canada

NICE (NASDAQ:NICE)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research note issued on Thursday, Benzinga reports. They presently have a $260.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 56.41% from the stock’s current price.

Several other analysts also recently commented on NICE. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 price objective on shares of NICE in a report on Friday, August 16th. Barclays dropped their price objective on shares of NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Morgan Stanley lowered their price target on shares of NICE from $290.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. DA Davidson reissued a “buy” rating and set a $300.00 price target on shares of NICE in a report on Wednesday, June 12th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of NICE in a report on Tuesday, August 13th. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $269.64.

NICE Stock Performance

NASDAQ:NICE traded up $0.05 during trading hours on Thursday, hitting $166.23. 22,823 shares of the company were exchanged, compared to its average volume of 508,988. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 1.35 and a beta of 1.04. NICE has a 52-week low of $149.54 and a 52-week high of $270.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. The company’s 50 day moving average price is $170.47 and its 200-day moving average price is $192.70.

NICE (NASDAQ:NICE) last released its quarterly earnings data 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 business had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. As a group, research analysts forecast that NICE will post 8.5 earnings per share for the current year.

Hedge Funds Weigh In On NICE

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Davis Capital Management boosted its stake in NICE by 7.1% during the third quarter. Davis Capital Management now owns 4,860 shares of the technology company’s stock worth $844,000 after buying an additional 324 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of NICE in the 2nd quarter worth $595,000. Aurora Investment Counsel increased its stake in shares of NICE by 0.7% in the 2nd quarter. Aurora Investment Counsel now owns 10,906 shares of the technology company’s stock worth $1,876,000 after acquiring an additional 80 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of NICE by 21.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 1,708 shares of the technology company’s stock worth $294,000 after acquiring an additional 300 shares during the last quarter. Finally, Creative Planning increased its stake in shares of NICE by 9.9% in the 2nd quarter. Creative Planning now owns 7,391 shares of the technology company’s stock worth $1,271,000 after acquiring an additional 666 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors and hedge funds.

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.