Intrinsic value of NICE ADR - NICE

Previous Close

$74.67

  Intrinsic Value

$70.09

stock screener

  Rating & Target

hold

-6%

  Value-price divergence*

-50%

Previous close

$74.67

 
Intrinsic value

$70.09

 
Up/down potential

-6%

 
Rating

hold

 
Value-price divergence*

-50%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of NICE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 4.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.60
  9.60
  9.14
  8.73
  8.35
  8.02
  7.72
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
Revenue, $m
  1,016
  1,114
  1,215
  1,321
  1,432
  1,547
  1,666
  1,790
  1,919
  2,053
  2,192
  2,337
  2,487
  2,644
  2,807
  2,977
  3,154
  3,339
  3,531
  3,732
  3,942
  4,161
  4,390
  4,629
  4,880
  5,142
  5,416
  5,702
  6,003
  6,317
  6,647
Variable operating expenses, $m
 
  902
  973
  1,046
  1,123
  1,203
  1,285
  1,372
  1,461
  1,554
  1,651
  1,623
  1,727
  1,836
  1,950
  2,068
  2,190
  2,319
  2,452
  2,592
  2,738
  2,890
  3,049
  3,215
  3,389
  3,571
  3,761
  3,960
  4,169
  4,388
  4,616
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  881
  902
  973
  1,046
  1,123
  1,203
  1,285
  1,372
  1,461
  1,554
  1,651
  1,623
  1,727
  1,836
  1,950
  2,068
  2,190
  2,319
  2,452
  2,592
  2,738
  2,890
  3,049
  3,215
  3,389
  3,571
  3,761
  3,960
  4,169
  4,388
  4,616
Operating income, $m
  134
  212
  243
  275
  309
  344
  380
  418
  458
  499
  541
  714
  760
  808
  857
  909
  963
  1,020
  1,079
  1,140
  1,204
  1,271
  1,341
  1,414
  1,491
  1,571
  1,654
  1,742
  1,834
  1,930
  2,030
EBITDA, $m
  212
  366
  399
  434
  470
  508
  547
  588
  630
  674
  720
  767
  816
  868
  921
  977
  1,035
  1,096
  1,159
  1,225
  1,294
  1,366
  1,441
  1,520
  1,602
  1,688
  1,778
  1,872
  1,970
  2,074
  2,182
Interest expense (income), $m
  2
  16
  19
  23
  27
  31
  36
  40
  45
  50
  55
  60
  66
  71
  77
  83
  90
  96
  103
  111
  118
  126
  135
  143
  152
  162
  172
  182
  193
  204
  216
Earnings before tax, $m
  144
  196
  224
  252
  282
  313
  345
  378
  413
  449
  486
  654
  694
  736
  780
  826
  874
  923
  975
  1,029
  1,086
  1,145
  1,206
  1,271
  1,338
  1,409
  1,483
  1,560
  1,641
  1,726
  1,814
Tax expense, $m
  21
  53
  60
  68
  76
  84
  93
  102
  111
  121
  131
  177
  187
  199
  211
  223
  236
  249
  263
  278
  293
  309
  326
  343
  361
  380
  400
  421
  443
  466
  490
Net income, $m
  117
  143
  163
  184
  206
  228
  252
  276
  301
  328
  355
  477
  507
  538
  570
  603
  638
  674
  712
  751
  793
  836
  881
  928
  977
  1,028
  1,082
  1,139
  1,198
  1,260
  1,324

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  187
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,632
  2,677
  2,921
  3,176
  3,442
  3,718
  4,005
  4,303
  4,612
  4,934
  5,269
  5,617
  5,979
  6,356
  6,748
  7,156
  7,582
  8,025
  8,488
  8,971
  9,475
  10,002
  10,553
  11,128
  11,730
  12,359
  13,018
  13,708
  14,430
  15,186
  15,978
Adjusted assets (=assets-cash), $m
  2,445
  2,677
  2,921
  3,176
  3,442
  3,718
  4,005
  4,303
  4,612
  4,934
  5,269
  5,617
  5,979
  6,356
  6,748
  7,156
  7,582
  8,025
  8,488
  8,971
  9,475
  10,002
  10,553
  11,128
  11,730
  12,359
  13,018
  13,708
  14,430
  15,186
  15,978
Revenue / Adjusted assets
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
  0.416
Average production assets, $m
  407
  447
  487
  530
  574
  620
  668
  718
  769
  823
  879
  937
  997
  1,060
  1,126
  1,194
  1,265
  1,339
  1,416
  1,497
  1,581
  1,669
  1,760
  1,856
  1,957
  2,062
  2,172
  2,287
  2,407
  2,533
  2,665
Working capital, $m
  36
  -111
  -122
  -132
  -143
  -155
  -167
  -179
  -192
  -205
  -219
  -234
  -249
  -264
  -281
  -298
  -315
  -334
  -353
  -373
  -394
  -416
  -439
  -463
  -488
  -514
  -542
  -570
  -600
  -632
  -665
Total debt, $m
  465
  549
  659
  773
  893
  1,017
  1,146
  1,280
  1,420
  1,564
  1,715
  1,872
  2,035
  2,204
  2,380
  2,564
  2,756
  2,955
  3,164
  3,381
  3,608
  3,845
  4,093
  4,352
  4,622
  4,906
  5,202
  5,513
  5,837
  6,178
  6,534
Total liabilities, $m
  1,121
  1,205
  1,315
  1,429
  1,549
  1,673
  1,802
  1,936
  2,076
  2,220
  2,371
  2,528
  2,691
  2,860
  3,036
  3,220
  3,412
  3,611
  3,820
  4,037
  4,264
  4,501
  4,749
  5,008
  5,278
  5,562
  5,858
  6,169
  6,493
  6,834
  7,190
Total equity, $m
  1,511
  1,472
  1,607
  1,747
  1,893
  2,045
  2,202
  2,366
  2,537
  2,714
  2,898
  3,089
  3,288
  3,496
  3,711
  3,936
  4,170
  4,414
  4,668
  4,934
  5,211
  5,501
  5,804
  6,120
  6,451
  6,798
  7,160
  7,539
  7,936
  8,352
  8,788
Total liabilities and equity, $m
  2,632
  2,677
  2,922
  3,176
  3,442
  3,718
  4,004
  4,302
  4,613
  4,934
  5,269
  5,617
  5,979
  6,356
  6,747
  7,156
  7,582
  8,025
  8,488
  8,971
  9,475
  10,002
  10,553
  11,128
  11,729
  12,360
  13,018
  13,708
  14,429
  15,186
  15,978
Debt-to-equity ratio
  0.308
  0.370
  0.410
  0.440
  0.470
  0.500
  0.520
  0.540
  0.560
  0.580
  0.590
  0.610
  0.620
  0.630
  0.640
  0.650
  0.660
  0.670
  0.680
  0.690
  0.690
  0.700
  0.710
  0.710
  0.720
  0.720
  0.730
  0.730
  0.740
  0.740
  0.740
Adjusted equity ratio
  0.542
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  117
  143
  163
  184
  206
  228
  252
  276
  301
  328
  355
  477
  507
  538
  570
  603
  638
  674
  712
  751
  793
  836
  881
  928
  977
  1,028
  1,082
  1,139
  1,198
  1,260
  1,324
Depreciation, amort., depletion, $m
  78
  154
  156
  159
  161
  164
  166
  169
  172
  175
  178
  53
  57
  60
  64
  68
  72
  76
  80
  85
  90
  95
  100
  105
  111
  117
  123
  130
  137
  144
  151
Funds from operations, $m
  231
  297
  319
  343
  367
  392
  418
  445
  474
  503
  533
  530
  563
  598
  634
  671
  710
  750
  792
  836
  882
  930
  981
  1,033
  1,088
  1,146
  1,206
  1,269
  1,335
  1,404
  1,476
Change in working capital, $m
  11
  -10
  -10
  -11
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -33
Cash from operations, $m
  220
  307
  330
  353
  378
  403
  430
  458
  486
  516
  547
  545
  579
  614
  650
  688
  727
  769
  812
  857
  903
  952
  1,004
  1,057
  1,113
  1,172
  1,233
  1,297
  1,365
  1,435
  1,509
Maintenance CAPEX, $m
  0
  -23
  -25
  -28
  -30
  -33
  -35
  -38
  -41
  -44
  -47
  -50
  -53
  -57
  -60
  -64
  -68
  -72
  -76
  -80
  -85
  -90
  -95
  -100
  -105
  -111
  -117
  -123
  -130
  -137
  -144
New CAPEX, $m
  -36
  -40
  -41
  -43
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -58
  -60
  -63
  -65
  -68
  -71
  -74
  -77
  -81
  -84
  -88
  -92
  -96
  -100
  -105
  -110
  -115
  -120
  -126
  -132
Cash from investing activities, $m
  -800
  -63
  -66
  -71
  -74
  -79
  -83
  -88
  -93
  -98
  -103
  -108
  -113
  -120
  -125
  -132
  -139
  -146
  -153
  -161
  -169
  -178
  -187
  -196
  -205
  -216
  -227
  -238
  -250
  -263
  -276
Free cash flow, $m
  -580
  244
  263
  283
  304
  325
  347
  370
  394
  419
  445
  437
  465
  494
  524
  556
  589
  623
  658
  695
  734
  775
  817
  861
  907
  956
  1,006
  1,059
  1,114
  1,172
  1,233
Issuance/(repayment) of debt, $m
  464
  105
  110
  115
  119
  124
  129
  134
  139
  145
  151
  157
  163
  169
  176
  184
  192
  200
  208
  217
  227
  237
  248
  259
  271
  283
  296
  310
  325
  340
  356
Issuance/(repurchase) of shares, $m
  -20
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  451
  105
  110
  115
  119
  124
  129
  134
  139
  145
  151
  157
  163
  169
  176
  184
  192
  200
  208
  217
  227
  237
  248
  259
  271
  283
  296
  310
  325
  340
  356
Total cash flow (excl. dividends), $m
  -131
  349
  373
  398
  423
  449
  476
  504
  533
  564
  595
  594
  628
  663
  701
  740
  780
  822
  867
  913
  961
  1,012
  1,065
  1,120
  1,178
  1,239
  1,303
  1,369
  1,439
  1,512
  1,589
Retained Cash Flow (-), $m
  -96
  -127
  -135
  -140
  -146
  -152
  -158
  -164
  -170
  -177
  -184
  -191
  -199
  -207
  -216
  -225
  -234
  -244
  -255
  -266
  -277
  -290
  -303
  -316
  -331
  -346
  -362
  -379
  -397
  -416
  -436
Prev. year cash balance distribution, $m
 
  166
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  387
  239
  258
  277
  297
  318
  340
  363
  387
  411
  402
  429
  456
  485
  515
  546
  578
  612
  647
  684
  722
  762
  804
  847
  893
  940
  990
  1,042
  1,096
  1,154
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  371
  219
  224
  228
  230
  231
  230
  227
  222
  216
  191
  183
  174
  163
  151
  139
  126
  113
  100
  87
  75
  63
  53
  43
  35
  27
  21
  16
  12
  9
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

NICE Ltd. provides enterprise software solutions that enable organizations to enhance customer experience, drive business performance, ensure compliance, and fight financial crime. It operates in two segments: Customer Interactions Solutions, and Financial Crime and Compliance Solutions. The Customer Interactions Solutions segment offers multi-channel recording and interaction management, real-time interaction analytics, employee engagement, customer journey, and real-time decision and guidance solutions. This segment serves contact centers, back office operations, and retail branches in various industries, including communications, banking, insurance, healthcare, business processes outsourcing, government, utilities, travel, and entertainment. The Financial Crime and Compliance Solutions segment provides real time and cross-channel fraud prevention, anti-money laundering, brokerage compliance, and enterprise-wide case management services. The company also offers professional and support services covering various stages of the technology lifecycle, including defining requirements, planning, design, implementation, customization, optimization, proactive maintenance, and ongoing support. It sells its solutions and products directly to customers, as well as indirectly through selected partners worldwide. NICE Ltd. has strategic alliances with Boston Consulting Group, Cisco, Deloitte, IBM, IPC, Motorola, PWC, Tata Consulting Services, and Verizon. The company was formerly known as NICE-Systems Ltd. and changed its name to NICE Ltd. in June 2016. NICE Ltd. was founded in 1986 and is headquartered in Ra'anana, Israel.

FINANCIAL RATIOS  of  NICE ADR (NICE)

Valuation Ratios
P/E Ratio 38.3
Price to Sales 4.4
Price to Book 3
Price to Tangible Book
Price to Cash Flow 20.4
Price to Free Cash Flow 24.3
Growth Rates
Sales Growth Rate 9.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 100%
Cap. Spend. - 3 Yr. Gr. Rate 11.4%
Financial Strength
Quick Ratio 9
Current Ratio 0.1
LT Debt to Equity 29.4%
Total Debt to Equity 30.8%
Interest Coverage 73
Management Effectiveness
Return On Assets 5.3%
Ret/ On Assets - 3 Yr. Avg. 8.8%
Return On Total Capital 6.9%
Ret/ On T. Cap. - 3 Yr. Avg. 11.7%
Return On Equity 8%
Return On Equity - 3 Yr. Avg. 12.1%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 66.7%
Gross Margin - 3 Yr. Avg. 66.4%
EBITDA Margin 22%
EBITDA Margin - 3 Yr. Avg. 22.6%
Operating Margin 13.3%
Oper. Margin - 3 Yr. Avg. 14.5%
Pre-Tax Margin 14.2%
Pre-Tax Margin - 3 Yr. Avg. 15.1%
Net Profit Margin 11.5%
Net Profit Margin - 3 Yr. Avg. 17.1%
Effective Tax Rate 14.6%
Eff/ Tax Rate - 3 Yr. Avg. 13.7%
Payout Ratio 32.5%

NICE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NICE stock intrinsic value calculation we used $1016 million for the last fiscal year's total revenue generated by NICE ADR. The default revenue input number comes from 2016 income statement of NICE ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NICE stock valuation model: a) initial revenue growth rate of 9.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for NICE is calculated based on our internal credit rating of NICE ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of NICE ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NICE stock the variable cost ratio is equal to 82.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for NICE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for NICE ADR.

Corporate tax rate of 27% is the nominal tax rate for NICE ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NICE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NICE are equal to 40.1%.

Life of production assets of 17.6 years is the average useful life of capital assets used in NICE ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NICE is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1511 million for NICE ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 59.859 million for NICE ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of NICE ADR at the current share price and the inputted number of shares is $4.5 billion.

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COMPANY NEWS

▶ Investor Network: NICE Ltd to Host Earnings Call   [Aug-03-17 06:05AM  ACCESSWIRE]
▶ ETFs with exposure to NICE Ltd. (Israel) : July 4, 2017   [Jul-04-17 03:14PM  Capital Cube]
▶ ETFs with exposure to NICE Ltd. (Israel) : June 22, 2017   [Jun-22-17 04:05PM  Capital Cube]
▶ Nice Systems beats 1Q profit forecasts   [May-04-17 05:36AM  Associated Press]
▶ Software firm finds nice fit at upgraded Verizon campus in Richardson   [May-02-17 02:35PM  American City Business Journals]
▶ inContact Unveils Newest Release of inContact Agent   [Apr-20-17 07:00AM  Business Wire]
▶ Dizzion Joins inContact inCloud Ecosystem of Partners   [Apr-05-17 10:00AM  Business Wire]
▶ inContact Wins 2017 BIG Innovation Award   [Feb-08-17 09:17AM  Business Wire]
Stock chart of NICE Financial statements of NICE
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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