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

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Zacks Investment Research downgraded shares of Nice (NASDAQ:NICE) from a buy rating to a hold rating in a report published 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. “

A number of other equities research analysts have also issued reports on the company. JMP Securities upped their price target on Nice from $140.00 to $164.00 and gave the company a market outperform rating in a research report on Friday, May 17th. Citigroup set a $8.00 price target on Diamond Offshore Drilling and gave the company a sell rating in a research report on Friday, May 17th. JPMorgan Chase & Co. set a €8.75 ($10.17) price objective on Commerzbank and gave the stock a buy rating in a research report on Thursday, April 18th. DA Davidson increased their price objective on Nice to $140.00 and gave the stock a neutral rating in a research report on Friday, May 17th. Finally, Barclays lowered their price objective on Waters from $218.00 to $210.00 and set an equal weight rating for the company in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $145.25.

NICE stock opened at $149.00 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $140.82. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 3.29 and a beta of 0.75. Nice has a 1 year low of $100.54 and a 1 year high of $150.18.

Nice (NASDAQ:NICE) last posted its quarterly earnings results on Thursday, May 16th. The technology company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.27. The business had revenue of $377.00 million during the quarter, compared to analyst estimates of $375.18 million. Nice had a return on equity of 10.83% and a net margin of 11.63%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 earnings per share. Equities research analysts forecast that Nice will post 4.39 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. purchased a new position in shares of Nice during the first quarter worth $26,000. Liberty Wealth Management LLC purchased a new position in shares of Nice during the fourth quarter worth $27,000. Sonora Investment Management LLC acquired a new stake in shares of Nice in the second quarter valued at $34,000. Pinnacle Bank raised its stake in shares of Nice by 44.5% in the second quarter. Pinnacle Bank now owns 315 shares of the technology company’s stock valued at $43,000 after acquiring an additional 97 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Nice in the first quarter valued at $53,000. Institutional investors and hedge funds own 45.92% of the company’s stock.

Nice Company Profile

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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