JPMorgan Chase & Co. Upgrades NICE (NASDAQ:NICE) to “Overweight”

NICE (NASDAQ:NICE) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Analyst Ratings Network reports. The firm presently has a $260.00 price objective on the technology company’s stock, down from their previous price objective of $261.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 14.52% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of NICE from $250.00 to $266.00 and gave the company a “sector perform” rating in a report on Friday, February 19th. Oppenheimer reissued an “outperform” rating and set a $290.00 price target on shares of NICE in a report on Thursday, February 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reduced their price target on shares of NICE from $312.00 to $296.00 and set a “buy” rating for the company in a report on Friday, May 14th. Pritchard Capital boosted their price target on shares of NICE from $292.00 to $312.00 and gave the company a “buy” rating in a report on Friday, February 19th. Finally, Wedbush boosted their price target on shares of NICE from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, February 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $288.85.

NICE stock opened at $227.04 on Wednesday. The firm has a market capitalization of $14.31 billion, a P/E ratio of 74.44, a PEG ratio of 4.12 and a beta of 0.78. The stock has a fifty day simple moving average of $229.28. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.16. NICE has a 12 month low of $181.76 and a 12 month high of $288.73.

NICE (NASDAQ:NICE) last released its quarterly earnings data on Thursday, May 13th. The technology company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.33. NICE had a net margin of 11.98% and a return on equity of 12.17%. On average, research analysts predict that NICE will post 4.86 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Winslow Evans & Crocker Inc. purchased a new position in NICE during the 4th quarter valued at about $31,000. RMR Wealth Builders purchased a new position in NICE during the 4th quarter valued at about $31,000. James Investment Research Inc. grew its stake in NICE by 72.2% during the 1st quarter. James Investment Research Inc. now owns 136 shares of the technology company’s stock valued at $30,000 after acquiring an additional 57 shares in the last quarter. Ameritas Investment Company LLC purchased a new position in NICE during the 1st quarter valued at about $37,000. Finally, Capital Asset Advisory Services LLC purchased a new position in NICE during the 4th quarter valued at about $52,000. 62.38% of the stock is currently owned by hedge funds and other institutional investors.

NICE Company Profile

NICE Ltd. provides enterprise software solutions worldwide. The company operates in two segments, Customer Engagement, and Financial Crime and Compliance. It offers CXone, a cloud native open platform that supports contact centers ranging from small single sites to distributed remote agents and enterprises; and a digital-first omnichannel customer engagement platform that supports various digital and self-service channels, which allows organizations to add and integrate new and emerging channels.

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Analyst Recommendations for NICE (NASDAQ:NICE)

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