Citigroup Issues Pessimistic Forecast for NICE (NASDAQ:NICE) Stock Price

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

Several other brokerages have also weighed in on NICE. StockNews.com lowered shares of NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday. Northland Securities cut their price target on shares of NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Piper Sandler reissued a “neutral” rating on shares of NICE in a research note on Thursday, November 14th. DA Davidson dropped their price target on shares of NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Oppenheimer downgraded shares of NICE from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $250.27.

NICE Stock Down 0.0 %

NASDAQ NICE opened at $176.46 on Tuesday. The stock has a market capitalization of $11.09 billion, a P/E ratio of 27.32, a P/E/G ratio of 1.22 and a beta of 1.06. NICE has a 52-week low of $151.52 and a 52-week high of $270.73. The firm has a 50-day moving average price of $171.57 and a 200 day moving average price of $173.11.

Institutional Trading of NICE

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bruni J V & Co. Co. bought a new stake in shares of NICE in the 3rd quarter worth approximately $22,849,000. Asset Management One Co. Ltd. grew its position in NICE by 13.5% during the third quarter. Asset Management One Co. Ltd. now owns 47,214 shares of the technology company’s stock valued at $8,200,000 after purchasing an additional 5,629 shares in the last quarter. Clear Creek Financial Management LLC grew its position in NICE by 106.5% during the fourth quarter. Clear Creek Financial Management LLC now owns 4,303 shares of the technology company’s stock valued at $731,000 after purchasing an additional 2,219 shares in the last quarter. Kopion Asset Management LLC bought a new stake in NICE in the fourth quarter worth approximately $7,433,000. Finally, Parnassus Investments LLC grew its position in NICE by 1.5% in the third 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 in 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.