NICE (NASDAQ:NICE) Trading Up 5.3% – Here’s Why

Shares of NICE Ltd. (NASDAQ:NICE) traded up 5.3% during trading on Monday . The company traded as high as $170.01 and last traded at $170.49. 115,637 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 406,989 shares. The stock had previously closed at $161.88.

Analysts Set New Price Targets

Several research firms have recently weighed in on NICE. Piper Sandler restated a “neutral” rating on shares of NICE in a research note on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of NICE in a research report on Friday, November 15th. Cantor Fitzgerald initiated coverage on NICE in a research report on Friday, January 17th. They issued a “neutral” rating and a $176.00 price objective for the company. Jefferies Financial Group reissued a “hold” rating and set a $200.00 target price (down from $215.00) on shares of NICE in a report on Thursday, December 19th. Finally, StockNews.com raised NICE from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $253.93.

NICE Price Performance

The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.15 and a beta of 1.06. The business’s 50-day moving average price is $174.88 and its two-hundred day moving average price is $173.97.

Hedge Funds Weigh In On NICE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV increased its position in shares of NICE by 208.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock worth $26,000 after purchasing an additional 100 shares during the period. ORG Wealth Partners LLC acquired a new stake in NICE during the third quarter worth about $38,000. Richardson Financial Services Inc. increased its holdings in NICE by 43.8% in the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock valued at $38,000 after buying an additional 67 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of NICE in the 3rd quarter valued at approximately $41,000. Finally, GAMMA Investing LLC lifted its holdings in shares of NICE by 89.9% during the 3rd quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock worth $43,000 after acquiring an additional 116 shares during the period. 63.34% of the stock is owned by institutional investors and hedge funds.

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.