Citigroup Lowers NICE (NASDAQ:NICE) Price Target to $279.00

NICE (NASDAQ:NICE) had its price objective decreased by analysts at Citigroup from $315.00 to $279.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 59.18% from the stock’s current price.

Several other analysts have also commented on NICE. Oppenheimer lowered shares of NICE from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Piper Sandler restated a “neutral” rating on shares of NICE in a research note on Thursday, November 14th. DA Davidson decreased their price target on NICE from $300.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. StockNews.com downgraded shares of NICE from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of NICE in a research report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.27.

NICE Trading Down 0.7 %

Shares of NICE traded down $1.22 during trading hours on Tuesday, hitting $175.27. The company had a trading volume of 166,578 shares, compared to its average volume of 448,190. The company has a market capitalization of $11.02 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.06. NICE has a one year low of $151.52 and a one year high of $270.73. The company’s fifty day moving average price is $171.67 and its two-hundred day moving average price is $173.07.

Institutional Investors Weigh In On NICE

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in NICE in the 4th quarter valued at approximately $313,808,000. Boston Partners raised its holdings in shares of NICE by 10.0% in the 4th quarter. Boston Partners now owns 1,670,327 shares of the technology company’s stock valued at $283,349,000 after buying an additional 151,528 shares during the period. Menora Mivtachim Holdings LTD. lifted its stake in NICE by 2.3% during the 4th quarter. Menora Mivtachim Holdings LTD. now owns 1,660,037 shares of the technology company’s stock worth $281,941,000 after acquiring an additional 36,865 shares in the last quarter. HMI Capital Management L.P. boosted its holdings in NICE by 12.8% during the 4th quarter. HMI Capital Management L.P. now owns 1,642,770 shares of the technology company’s stock valued at $279,008,000 after acquiring an additional 186,600 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of NICE by 21.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock worth $273,642,000 after purchasing an additional 279,375 shares in the last quarter. 63.34% of the stock is owned by hedge funds and other 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.