Zacks Investment Research Lowers Nice (NASDAQ:NICE) to Hold

Zacks Investment Research downgraded shares of Nice (NASDAQ:NICE) from a buy rating to a hold rating in a report issued on Wednesday morning, 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. “

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. set a €8.75 ($10.17) price objective on Commerzbank and gave the company a buy rating in a report on Thursday, April 18th. Oppenheimer set a $119.00 price objective on American Express and gave the company a buy rating in a report on Wednesday, April 17th. Morgan Stanley reaffirmed an overweight rating and issued a GBX 460 ($6.01) price objective on shares of Sophos Group in a report on Friday, May 17th. Barclays lowered their price objective on Waters from $218.00 to $210.00 and set an equal weight rating on the stock in a report on Wednesday, April 24th. Finally, Citigroup set a $8.00 price objective on Diamond Offshore Drilling and gave the company a sell rating in a report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $145.25.

NASDAQ NICE opened at $149.00 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.31 and a current ratio of 1.31. Nice has a 52-week low of $100.54 and a 52-week high of $150.18. The business’s 50-day moving average is $140.82. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 38.70, a P/E/G ratio of 3.29 and a beta of 0.75.

Nice (NASDAQ:NICE) last released its quarterly earnings results on Thursday, May 16th. The technology company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.27. Nice had a return on equity of 10.83% and a net margin of 11.63%. The firm had revenue of $377.00 million for the quarter, compared to analyst estimates of $375.18 million. During the same quarter last year, the company posted $1.03 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. On average, equities analysts forecast that Nice will post 4.39 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Artisan Partners Limited Partnership lifted its position in shares of Nice by 243.0% during the 1st quarter. Artisan Partners Limited Partnership now owns 413,481 shares of the technology company’s stock valued at $50,656,000 after acquiring an additional 292,943 shares during the period. FMR LLC lifted its position in shares of Nice by 63.8% during the 4th quarter. FMR LLC now owns 643,304 shares of the technology company’s stock valued at $69,612,000 after acquiring an additional 250,650 shares during the period. Principal Financial Group Inc. lifted its position in shares of Nice by 45.2% during the 4th quarter. Principal Financial Group Inc. now owns 802,621 shares of the technology company’s stock valued at $86,852,000 after acquiring an additional 249,722 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Nice by 6.6% during 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. Finally, Acadian Asset Management LLC lifted its position in shares of Nice by 31.5% during the 1st quarter. Acadian Asset Management LLC now owns 648,860 shares of the technology company’s stock valued at $79,493,000 after acquiring an additional 155,515 shares during the period. 45.92% of the stock is currently owned by institutional investors.

About Nice

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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