Citigroup Inc. Increases Nice Systems Ltd. (NICE) Price Target to $93.00

Nice Systems Ltd. (NASDAQ:NICE) had its price target increased by stock analysts at Citigroup Inc. from $83.00 to $93.00 in a report issued on Friday. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup Inc.’s target price suggests a potential upside of 8.75% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Jefferies Group LLC upped their price objective on Nice Systems from $84.00 to $87.00 and gave the company a “hold” rating in a report on Friday. J P Morgan Chase & Co downgraded Nice Systems from an “overweight” rating to a “neutral” rating in a report on Friday. Chardan Capital upped their price objective on Nice Systems from $84.00 to $91.00 and gave the company a “buy” rating in a report on Monday, October 16th. Royal Bank Of Canada reiterated a “hold” rating and issued a $80.00 price objective on shares of Nice Systems in a report on Monday, August 21st. Finally, Barclays PLC reiterated a “hold” rating on shares of Nice Systems in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $83.50.

Nice Systems (NICE) traded up $1.66 during midday trading on Friday, reaching $85.52. The company had a trading volume of 205,252 shares, compared to its average volume of 103,703. The firm has a market cap of $5,134.36, a P/E ratio of 34.21, a P/E/G ratio of 4.95 and a beta of 0.89. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 0.28.

Nice Systems (NASDAQ:NICE) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $315.30 million during the quarter, compared to the consensus estimate of $313.44 million. Nice Systems had a return on equity of 9.85% and a net margin of 7.12%. The firm’s revenue was up 33.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. sell-side analysts expect that Nice Systems will post 1.73 EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in NICE. PNC Financial Services Group Inc. increased its holdings in shares of Nice Systems by 520.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,845 shares of the technology company’s stock worth $262,000 after acquiring an additional 3,225 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Nice Systems by 15.1% in the first quarter. Geode Capital Management LLC now owns 33,824 shares of the technology company’s stock worth $2,299,000 after acquiring an additional 4,440 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Nice Systems by 10.7% in the first quarter. Dimensional Fund Advisors LP now owns 79,743 shares of the technology company’s stock worth $5,421,000 after acquiring an additional 7,702 shares in the last quarter. Morgan Stanley increased its holdings in shares of Nice Systems by 137.7% in the first quarter. Morgan Stanley now owns 137,682 shares of the technology company’s stock worth $9,359,000 after acquiring an additional 79,760 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Nice Systems by 327.6% in the first quarter. Renaissance Technologies LLC now owns 175,944 shares of the technology company’s stock worth $11,961,000 after acquiring an additional 134,800 shares in the last quarter. Institutional investors own 43.64% of the company’s stock.

Nice Systems Company Profile

NICE Ltd., formerly NICE-Systems Ltd., is a global enterprise software provider. The Company’s segments include Customer Interactions Solutions, and Financial Crime and Compliance Solutions. The Customer Interactions Solutions segment provides data driven insights that enable businesses to deliver personalized experience to customers.

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