NiCE (NASDAQ:NICE) Share Price Breaks Below Fifty Day Moving Average – Should You Sell?

NiCE (NASDAQ:NICE)’s share price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $111.02 and traded as low as $104.22. NiCE shares last traded at $106.27, with a volume of 1,330,124 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NICE. Royal Bank Of Canada upped their target price on NiCE from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. Citigroup reissued a “neutral” rating on shares of NiCE in a research report on Thursday, August 6th. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of NiCE in a research report on Thursday, August 6th. Yorkville Ives assumed coverage on shares of NiCE in a research note on Monday, October 5th. They set an “in-line” rating and a $125.00 price target for the company. Finally, Weiss Ratings upgraded shares of NiCE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.71.

NiCE Price Performance

The stock has a market capitalization of $6.21 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.77. The company has a 50 day simple moving average of $111.02 and a 200-day simple moving average of $105.04.

NiCE (NASDAQ:NICE) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.63 by $0.07. The company had revenue of $782.29 million during the quarter, compared to the consensus estimate of $766.27 million. NiCE had a net margin of 13.86% and a return on equity of 15.46%. NiCE’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $3.01 EPS. As a group, equities analysts forecast that NiCE will post 8.60 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Udi Dayan sold 500 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $100.00, for a total value of $50,000.00. Following the sale, the vice president owned 500 shares in the company, valued at approximately $50,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On NiCE

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in NiCE by 1,637.6% during the first quarter. Principal Financial Group Inc. now owns 4,578,940 shares of the technology company’s stock worth $504,874,000 after acquiring an additional 4,315,414 shares in the last quarter. Kopernik Global Investors LLC bought a new position in shares of NiCE during the first quarter valued at approximately $27,670,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of NiCE by 16.8% during the first 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 in the last quarter. American Capital Management Inc. purchased a new position in shares of NiCE during the second quarter valued at approximately $12,414,000. Finally, Hiddenite Capital Partners LP purchased a new position in shares of NiCE during the third quarter valued at approximately $9,969,000. Hedge funds and other 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.