NICE Ltd. (NASDAQ:NICE) Short Interest Update

NICE Ltd. (NASDAQ:NICE - Get Free Report) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 1,130,000 shares, a decrease of 31.5% from the April 30th total of 1,650,000 shares. Based on an average trading volume of 540,100 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.8% of the company's stock are short sold.

Institutional Investors Weigh In On NICE

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. McIlrath & Eck LLC raised its stake in NICE by 56.9% in the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Financial Perspectives Inc raised its stake in NICE by 11.6% in the fourth quarter. Financial Perspectives Inc now owns 635 shares of the technology company's stock valued at $108,000 after purchasing an additional 66 shares in the last quarter. Richardson Financial Services Inc. raised its stake in NICE by 43.8% in the fourth quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company's stock valued at $38,000 after purchasing an additional 67 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in NICE by 5.7% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,428 shares of the technology company's stock valued at $243,000 after purchasing an additional 77 shares in the last quarter. Finally, Berry Wealth Group LP raised its stake in NICE by 5.2% in the fourth quarter. Berry Wealth Group LP now owns 1,616 shares of the technology company's stock valued at $274,000 after purchasing an additional 80 shares in the last quarter. 63.34% of the stock is owned by hedge funds and other institutional investors.

NICE Trading Up 3.1%

Shares of NICE stock traded up $5.07 on Tuesday, reaching $170.47. The stock had a trading volume of 551,476 shares, compared to its average volume of 561,914. NICE has a 1 year low of $137.19 and a 1 year high of $200.65. The company has a market cap of $10.78 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. The business's 50 day moving average is $156.73 and its two-hundred day moving average is $163.71.

NICE (NASDAQ:NICE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.03. NICE had a net margin of 16.18% and a return on equity of 16.17%. The firm had revenue of $700.19 million for the quarter, compared to the consensus estimate of $699.46 million. During the same period in the prior year, the firm posted $2.58 earnings per share. The company's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that NICE will post 9.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley reduced their target price on shares of NICE from $235.00 to $202.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. JMP Securities restated a "market outperform" rating and set a $300.00 price target on shares of NICE in a research report on Friday, May 16th. DA Davidson increased their price target on shares of NICE from $180.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Rosenblatt Securities increased their price target on shares of NICE from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Wedbush restated an "outperform" rating and set a $200.00 price target on shares of NICE in a research report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $211.50.

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.