NiCE (NASDAQ:NICE) Stock Breaks Below 50 Day Moving Average - What's Next?

Key Points

• NiCE shares fell below their 50-day moving average, trading as low as $104.22 and last at $106.27, versus the average of $111.02.
• Analysts have a “Moderate Buy” consensus and an average price target of $131.71; ratings are evenly split between eight Buy and eight Hold recommendations.
• In its latest reported quarter, NiCE beat earnings and revenue estimates, posting EPS of $2.70 and revenue of $782.29 million; revenue rose 7.7% year over year.

Shares of NiCE (NASDAQ:NICE - Get Free Report) passed 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.

Wall Street Analyst Weigh In

A number of research firms have commented on NICE. DA Davidson lifted their price objective on shares of NiCE from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Royal Bank Of Canada increased their price objective on shares of NiCE from $130.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, September 24th. Oppenheimer upgraded shares of NiCE from a "market perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research note on Wednesday, September 30th. Citigroup reaffirmed a "neutral" rating on shares of NiCE in a report on Thursday, August 6th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $130.00 target price on shares of NiCE in a report on Thursday, August 6th. Eight investment 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 company has an average rating of "Moderate Buy" and a consensus target price of $131.71.

NiCE Stock Down 5.4%

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

NiCE (NASDAQ:NICE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.63 by $0.07. The business 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%. The company's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.01 earnings per share. As a group, analysts predict that NiCE will post 8.60 EPS for the current fiscal year.

Insider Transactions at NiCE

In other news, VP Udi Dayan sold 500 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $100.00, for a total transaction of $50,000.00. Following the completion of the transaction, the vice president owned 500 shares of the company's stock, valued at approximately $50,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NiCE

A number of institutional investors have recently modified their holdings of NICE. V Square Quantitative Management LLC bought a new stake in shares of NiCE in the 1st quarter valued at $40,000. Western Wealth Management LLC bought a new position in NiCE during the first quarter worth $44,000. Allworth Financial LP boosted its stake in NiCE by 24.6% during the second quarter. Allworth Financial LP now owns 871 shares of the technology company's stock worth $79,000 after acquiring an additional 172 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in NiCE by 36.3% during the third quarter. Farther Finance Advisors LLC now owns 928 shares of the technology company's stock worth $103,000 after acquiring an additional 247 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in NiCE by 105.3% in the third quarter. GAMMA Investing LLC now owns 1,008 shares of the technology company's stock worth $112,000 after purchasing an additional 517 shares during the period. 63.34% of the stock is owned by institutional investors.

About NiCE

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.

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