NICE Ltd. (NASDAQ:NICE) Short Interest Up 44.2% in May

NICE Ltd. (NASDAQ:NICE - Get Free Report) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,630,000 shares, an increase of 44.2% from the May 15th total of 1,130,000 shares. Based on an average daily trading volume, of 454,400 shares, the days-to-cover ratio is presently 3.6 days. Approximately 2.6% of the company's stock are short sold.

Hedge Funds Weigh In On NICE

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its position in shares of NICE by 4.1% during the 1st quarter. Rhumbline Advisers now owns 3,892 shares of the technology company's stock valued at $600,000 after buying an additional 152 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of NICE in the first quarter valued at about $72,000. Strs Ohio acquired a new stake in shares of NICE in the first quarter valued at about $6,668,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NICE by 218.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 908,014 shares of the technology company's stock worth $139,989,000 after purchasing an additional 623,014 shares in the last quarter. Finally, Woodline Partners LP raised its position in shares of NICE by 18.7% during the 1st quarter. Woodline Partners LP now owns 20,140 shares of the technology company's stock worth $3,105,000 after purchasing an additional 3,178 shares during the last quarter. Hedge funds and other institutional investors own 63.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NICE. Rosenblatt Securities boosted their price target on NICE from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Wall Street Zen lowered shares of NICE from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 17th. JMP Securities reiterated a "market outperform" rating and set a $300.00 price objective on shares of NICE in a research note on Friday, May 16th. Cantor Fitzgerald reissued a "neutral" rating and issued a $161.00 target price on shares of NICE in a research report on Friday, May 16th. Finally, Morgan Stanley reduced their target price on NICE from $235.00 to $202.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $208.92.

NICE Price Performance

NICE stock traded up $1.96 during trading on Monday, hitting $167.64. 757,768 shares of the company traded hands, compared to its average volume of 529,509. NICE has a 1 year low of $137.19 and a 1 year high of $200.65. The company has a market cap of $10.60 billion, a PE ratio of 24.80, a P/E/G ratio of 1.07 and a beta of 1.01. The stock's 50-day simple moving average is $160.84 and its 200 day simple moving average is $163.56.

NICE (NASDAQ:NICE - Get Free Report) last posted its earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.03. The firm had revenue of $700.19 million during the quarter, compared to analysts' expectations of $699.46 million. NICE had a net margin of 16.18% and a return on equity of 16.17%. The business's revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 EPS. Research analysts expect that NICE will post 9.85 earnings per share for the current year.

NICE Company Profile

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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