NICE (NASDAQ:NICE) Hits New 52-Week Low on Disappointing Earnings

Shares of NICE Ltd. (NASDAQ:NICE) reached a new 52-week low on Thursday following a dissappointing earnings announcement. The company traded as low as $150.61 and last traded at $150.49, with a volume of 1003255 shares changing hands. The stock had previously closed at $178.50.

The technology company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). NICE had a net margin of 16.11% and a return on equity of 15.31%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NICE. Northland Securities dropped their price target on NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Cantor Fitzgerald assumed coverage on NICE in a report on Friday, January 17th. They set a “neutral” rating and a $176.00 target price for the company. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday. Oppenheimer lowered NICE from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $200.00 price target (down previously from $215.00) on shares of NICE in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NICE. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in NICE in the fourth quarter worth approximately $313,808,000. FIL Ltd bought a new stake in NICE in the fourth quarter worth about $70,465,000. New South Capital Management Inc. acquired a new stake in NICE during the fourth quarter valued at approximately $54,980,000. Deutsche Bank AG boosted its stake in shares of NICE by 95.7% during the 4th quarter. Deutsche Bank AG now owns 606,341 shares of the technology company’s stock worth $102,981,000 after acquiring an additional 296,514 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of NICE by 21.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock worth $273,642,000 after acquiring an additional 279,375 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors.

NICE Price Performance

The firm has a market capitalization of $9.29 billion, a PE ratio of 22.93, a P/E/G ratio of 1.23 and a beta of 1.06. The firm has a fifty day moving average price of $171.48 and a 200 day moving average price of $173.14.

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.