NiCE (NASDAQ:NICE) Shares Gap Down – Should You Sell?

NiCE (NASDAQ:NICE) gapped down prior to trading on Wednesday. The stock had previously closed at $106.27, but opened at $96.04. NiCE shares last traded at $101.2960, with a volume of 274,629 shares trading hands.

Analysts Set New Price Targets

NICE has been the topic of several analyst reports. Yorkville Ives started coverage on NiCE in a research note on Monday, October 5th. They issued an “in-line” rating and a $125.00 price objective on the stock. DA Davidson boosted their price target on NiCE from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded NiCE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. Royal Bank Of Canada dropped their price objective on NiCE from $145.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Citizens Jmp cut their price objective on NiCE from $170.00 to $158.00 and set a “market outperform” rating for the company in a report on Thursday. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.79.

NiCE Trading Down 0.7%

The firm has a fifty day simple moving average of $110.90 and a 200-day simple moving average of $104.88. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 1.09 and a beta of 0.77.

NiCE (NASDAQ:NICE) last posted its quarterly earnings results on Wednesday, November 4th. The technology company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.06. NiCE had a net margin of 12.01% and a return on equity of 14.41%. The business had revenue of $790.70 million during the quarter, compared to the consensus estimate of $785.75 million. During the same period in the previous year, the firm posted $3.18 earnings per share. NiCE’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts predict that NiCE will post 8.60 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NiCE

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in NiCE by 1,637.6% in the 1st quarter. Principal Financial Group Inc. now owns 4,578,940 shares of the technology company’s stock valued at $504,874,000 after purchasing an additional 4,315,414 shares during the period. Kopernik Global Investors LLC purchased a new stake in shares of NiCE during the 1st quarter valued at $27,670,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of NiCE by 16.8% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,028,172 shares of the technology company’s stock valued at $113,366,000 after purchasing an additional 148,113 shares during the last quarter. American Capital Management Inc. bought a new stake in shares of NiCE during the 2nd quarter worth $12,414,000. Finally, Hiddenite Capital Partners LP bought a new stake in shares of NiCE during the 3rd quarter worth $9,969,000. Institutional investors own 63.34% of the company’s stock.

NiCE Company Profile

NICE Ltd. (NASDAQ: NICE) is a technology company that provides cloud-based software and artificial intelligence solutions for customer experience, employee engagement, and business operations. Its platforms help organizations manage customer interactions across voice, digital, and other communication channels while using analytics and automation to improve service and operational performance.

The company’s portfolio includes NICE CXone, a cloud customer experience platform that supports contact-center operations, workforce management, analytics, and digital engagement.