Short Interest in NICE Ltd. (NASDAQ:NICE) Declines By 19.0%

by · The Markets Daily

NICE Ltd. (NASDAQ:NICE – Get Free Report) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 2,180,000 shares, a decline of 19.0% from the February 13th total of 2,690,000 shares. Based on an average daily volume of 587,400 shares, the days-to-cover ratio is presently 3.7 days. Approximately 3.5% of the company’s shares are short sold.

Wall Street Analyst Weigh In

NICE has been the subject of several research analyst reports. StockNews.com cut shares of NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Citigroup lowered their price objective on shares of NICE from $279.00 to $228.00 and set a “buy” rating for the company in a report on Monday, February 24th. Royal Bank of Canada reduced their target price on NICE from $260.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Rosenblatt Securities dropped their price target on NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $200.00 price target (down from $215.00) on shares of NICE in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.64.

Get Our Latest Research Report on NICE

NICE Stock Down 0.0 %

Shares of NASDAQ NICE traded down $0.03 during midday trading on Tuesday, hitting $151.02. The stock had a trading volume of 529,330 shares, compared to its average volume of 562,439. The company has a market cap of $9.49 billion, a P/E ratio of 22.34, a PEG ratio of 1.07 and a beta of 1.12. The business’s 50 day moving average is $160.44 and its 200-day moving average is $169.79. NICE has a 52 week low of $137.19 and a 52 week high of $270.73.

NICE (NASDAQ:NICE – Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.96 by ($0.71). NICE had a net margin of 16.18% and a return on equity of 16.17%. The business had revenue of $721.60 million for the quarter, compared to analysts’ expectations of $718.47 million. As a group, analysts expect that NICE will post 9.85 EPS for the current fiscal year.

Hedge Funds Weigh In On NICE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Atria Investments Inc bought a new position in NICE during the third quarter valued at approximately $215,000. Natixis Advisors LLC purchased a new position in shares of NICE in the 3rd quarter worth $1,805,000. GLOBALT Investments LLC GA grew its holdings in shares of NICE by 2.1% in the third quarter. GLOBALT Investments LLC GA now owns 7,333 shares of the technology company’s stock worth $1,274,000 after acquiring an additional 154 shares during the period. Pathstone Holdings LLC grew its holdings in shares of NICE by 33.6% in the third quarter. Pathstone Holdings LLC now owns 8,992 shares of the technology company’s stock worth $1,562,000 after acquiring an additional 2,260 shares during the period. Finally, Bruni J V & Co. Co. purchased a new stake in NICE during the third quarter valued at $22,849,000. Institutional investors own 63.34% of the company’s stock.

NICE Company Profile

(Get Free Report)

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.

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