NiCE (NASDAQ:NICE) Sets New 12-Month Low – Here’s Why

NiCE (NASDAQ:NICE) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $96.44 and last traded at $97.73, with a volume of 451071 shares. The stock had previously closed at $103.55.

Analyst Upgrades and Downgrades

NICE has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price target on shares of NiCE from $190.00 to $175.00 and set an “outperform” rating for the company in a report on Tuesday, November 18th. Citigroup increased their price objective on shares of NiCE from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Rosenblatt Securities restated a “buy” rating and issued a $175.00 target price on shares of NiCE in a report on Tuesday, December 23rd. Wall Street Zen upgraded NiCE from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of NiCE in a research note on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $156.42.

NiCE Stock Down 8.0%

The company has a market capitalization of $6.03 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.58 and a beta of 0.96. The firm’s 50-day moving average price is $111.58 and its 200 day moving average price is $125.67.

Institutional Investors Weigh In On NiCE

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Manchester Capital Management LLC purchased a new position in shares of NiCE in the 4th quarter worth approximately $39,000. Tower Research Capital LLC TRC purchased a new position in NiCE in the second quarter worth $40,000. Richardson Financial Services Inc. increased its position in shares of NiCE by 65.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock valued at $48,000 after purchasing an additional 130 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of NiCE during the 2nd quarter valued at $60,000. Finally, Legal & General Group Plc bought a new stake in shares of NiCE during the 2nd quarter worth $65,000. 63.34% of the stock is owned by hedge funds and other institutional investors.

NiCE Company Profile

NiCE Ltd is a global software provider specializing in solutions for customer engagement, financial crime prevention, public safety, workforce optimization and border security. Its product offerings include cloud-native and on-premises platforms that leverage advanced analytics, artificial intelligence and automation to help organizations enhance customer experiences, streamline operations and ensure regulatory compliance. NiCE’s portfolio addresses the needs of contact centers, financial institutions, government agencies and enterprises across a broad range of industries.

In customer engagement, NiCE delivers tools for omnichannel interaction management, real-time and historical analytics, workforce management, and quality management.