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NICE's Clientele Expands as Lancaster County Selects Justice
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NICE (NICE - Free Report) is benefiting from an expanding clientele, supported by a strong product portfolio. The company recently announced that the Lancaster County District Attorney’s Office has selected Justice, one of its solutions in the Evidencentral cloud-based platform, to effectively manage digital evidence.
The Justice solution will help Lancaster County to automate processes around intaking, reviewing, and sharing digital evidence. It will also boost the county’s coordination with different law enforcement agencies as all digital evidence will be captured, stored, reviewed and shared from one place.
The Evidencentral Software-as-a-Service solution digitally transforms the way digital evidence is collected, analyzed and shared from the time an incident happens until cases are successfully closed and prosecuted.
NICE’s Evidencentral platform helps the investigating agencies to clear cases faster, eliminate officer trips to collect digital evidence and CCTV video and process thousands of FOIA requests in a fraction of the time.
NICE’s Evidencentral has been gaining traction in recent times. Recently, Justice was chosen by the Yolo County District Attorney’s Office as well.
In July, NICE announced that selected solutions from the Evidencentral platform were chosen by multiple agencies from Washington state, including a county Sheriff’s Department, Prosecutor and Assigned Council Offices, and Superior Court.
Portfolio Strength to Drive NICE’s Top-Line Growth
NICE’s platforms like Evidencentral, Actimize, Inform Elite, Robotic Process Automation and Investigate have been gaining traction in recent times.
Actimize, in particular, has been winning customers frequently. Its advanced cloud SURVEIL-X Markets Surveillance solution was recently selected by Olivetree Financial to enhance its financial crime strategy, monitor market abuse and keep pace with regulatory changes.
Actimize has been named the “Anti-Fraud Product of the Year” by Risk.net. This recognition can be attributed to the growing popularity of its ever-evolving integrated fraud management platform, IFM-X, which provides real-time, end-to-end fraud prevention coverage.
Actimize also won the 2022 Frost & Sullivan Product Leadership Award for North America Enterprise Fraud Management.
Moreover, Gartner placed NICE as a leader in the 2022 Gartner Magic Quadrant for Robotic Process Automation as well as the Contact Center as a Service, reflecting the company’s dominance in these domains.
Meanwhile, NICE recently announced the launch of an updated version of CXone that will enable its clients to offer a complete CXi experience to their customers by utilizing digitalization, AI and automation.
In this regard, NICE’s expanded partnership with Microsoft (MSFT - Free Report) is expected to drive the adoption of CXone as the solution is now available natively on Azure.
The company has received the Top Tier status, Microsoft’s highest level partner designation, for Azure IP Co-sell, which will boost sales of CXone.
What Awaits NICE’s shares in the Rest of 2022?
NICE’s shares have lost 33.4% year to date due to macroeconomic challenges, including rising inflation and the Russia-Ukraine conflict.
Nevertheless, NICE shares have outperformed the Zacks Internet Software industry, which declined 49.4% over the same time frame. The outperformance can be attributed to the strong demand for its cloud-based solutions.
In the second quarter of 2022, cloud revenues increased 26.8% year over year to $311.4 million. Financial Crime & Compliance revenues increased 31% year over year to $102 million.
For the third quarter of 2022, revenues are expected between $543 million and $553 million. Earnings are pegged in the range of $1.82-$1.92 per share.
NICE raised its guidance for 2022. The company expects total revenue to be between $2.168 billion and $2.188 billion, representing 13% growth over 2021. Earnings are pegged in the $7.33-$7.53 per share range, representing 14% growth at the midpoint over 2021.
Paylocity shares are up 7.3% in the year-to-date period. The Zacks Consensus Estimate for PCTY’s fiscal 2023 earnings has been steady over the past 30 days at $3.58 per share.
Synchronoss shares have lost 44% in the year-to-date period. The consensus mark for SNCR’s 2022 earnings has been steady at 16 cents per share over the past 30 days.
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NICE's Clientele Expands as Lancaster County Selects Justice
NICE (NICE - Free Report) is benefiting from an expanding clientele, supported by a strong product portfolio. The company recently announced that the Lancaster County District Attorney’s Office has selected Justice, one of its solutions in the Evidencentral cloud-based platform, to effectively manage digital evidence.
The Justice solution will help Lancaster County to automate processes around intaking, reviewing, and sharing digital evidence. It will also boost the county’s coordination with different law enforcement agencies as all digital evidence will be captured, stored, reviewed and shared from one place.
The Evidencentral Software-as-a-Service solution digitally transforms the way digital evidence is collected, analyzed and shared from the time an incident happens until cases are successfully closed and prosecuted.
NICE’s Evidencentral platform helps the investigating agencies to clear cases faster, eliminate officer trips to collect digital evidence and CCTV video and process thousands of FOIA requests in a fraction of the time.
Nice Price and Consensus
Nice price-consensus-chart | Nice Quote
NICE’s Evidencentral has been gaining traction in recent times. Recently, Justice was chosen by the Yolo County District Attorney’s Office as well.
In July, NICE announced that selected solutions from the Evidencentral platform were chosen by multiple agencies from Washington state, including a county Sheriff’s Department, Prosecutor and Assigned Council Offices, and Superior Court.
Portfolio Strength to Drive NICE’s Top-Line Growth
NICE’s platforms like Evidencentral, Actimize, Inform Elite, Robotic Process Automation and Investigate have been gaining traction in recent times.
Actimize, in particular, has been winning customers frequently. Its advanced cloud SURVEIL-X Markets Surveillance solution was recently selected by Olivetree Financial to enhance its financial crime strategy, monitor market abuse and keep pace with regulatory changes.
Actimize has been named the “Anti-Fraud Product of the Year” by Risk.net. This recognition can be attributed to the growing popularity of its ever-evolving integrated fraud management platform, IFM-X, which provides real-time, end-to-end fraud prevention coverage.
Actimize also won the 2022 Frost & Sullivan Product Leadership Award for North America Enterprise Fraud Management.
Moreover, Gartner placed NICE as a leader in the 2022 Gartner Magic Quadrant for Robotic Process Automation as well as the Contact Center as a Service, reflecting the company’s dominance in these domains.
Meanwhile, NICE recently announced the launch of an updated version of CXone that will enable its clients to offer a complete CXi experience to their customers by utilizing digitalization, AI and automation.
In this regard, NICE’s expanded partnership with Microsoft (MSFT - Free Report) is expected to drive the adoption of CXone as the solution is now available natively on Azure.
The company has received the Top Tier status, Microsoft’s highest level partner designation, for Azure IP Co-sell, which will boost sales of CXone.
What Awaits NICE’s shares in the Rest of 2022?
NICE’s shares have lost 33.4% year to date due to macroeconomic challenges, including rising inflation and the Russia-Ukraine conflict.
Nevertheless, NICE shares have outperformed the Zacks Internet Software industry, which declined 49.4% over the same time frame. The outperformance can be attributed to the strong demand for its cloud-based solutions.
In the second quarter of 2022, cloud revenues increased 26.8% year over year to $311.4 million. Financial Crime & Compliance revenues increased 31% year over year to $102 million.
For the third quarter of 2022, revenues are expected between $543 million and $553 million. Earnings are pegged in the range of $1.82-$1.92 per share.
NICE raised its guidance for 2022. The company expects total revenue to be between $2.168 billion and $2.188 billion, representing 13% growth over 2021. Earnings are pegged in the $7.33-$7.53 per share range, representing 14% growth at the midpoint over 2021.
Zacks Rank & Stocks to Consider
NICE currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same industry are Paylocity (PCTY - Free Report) and Synchronoss (SNCR - Free Report) , both sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Paylocity shares are up 7.3% in the year-to-date period. The Zacks Consensus Estimate for PCTY’s fiscal 2023 earnings has been steady over the past 30 days at $3.58 per share.
Synchronoss shares have lost 44% in the year-to-date period. The consensus mark for SNCR’s 2022 earnings has been steady at 16 cents per share over the past 30 days.