Intrinsic value of NICE ADR - NICE

Previous Close

$109.08

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

Previous close

$109.08

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

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 2017), $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 6.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  31.20
  28.58
  26.22
  24.10
  22.19
  20.47
  18.92
  17.53
  16.28
  15.15
  14.14
  13.22
  12.40
  11.66
  10.99
  10.39
  9.85
  9.37
  8.93
  8.54
  8.19
  7.87
  7.58
  7.32
  7.09
  6.88
  6.69
  6.52
  6.37
  6.23
Revenue, $m
  1,748
  2,247
  2,836
  3,520
  4,301
  5,181
  6,162
  7,242
  8,421
  9,697
  11,067
  12,531
  14,084
  15,727
  17,455
  19,270
  21,169
  23,152
  25,220
  27,374
  29,615
  31,944
  34,366
  36,882
  39,497
  42,215
  45,040
  47,978
  51,035
  54,217
Variable operating expenses, $m
  1,459
  1,822
  2,251
  2,748
  3,316
  3,957
  4,670
  5,456
  6,314
  7,242
  8,053
  9,117
  10,248
  11,443
  12,701
  14,021
  15,403
  16,846
  18,351
  19,918
  21,548
  23,243
  25,005
  26,836
  28,738
  30,716
  32,772
  34,909
  37,134
  39,448
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
  1,459
  1,822
  2,251
  2,748
  3,316
  3,957
  4,670
  5,456
  6,314
  7,242
  8,053
  9,117
  10,248
  11,443
  12,701
  14,021
  15,403
  16,846
  18,351
  19,918
  21,548
  23,243
  25,005
  26,836
  28,738
  30,716
  32,772
  34,909
  37,134
  39,448
Operating income, $m
  289
  425
  586
  772
  985
  1,224
  1,491
  1,786
  2,107
  2,454
  3,015
  3,413
  3,836
  4,284
  4,755
  5,249
  5,766
  6,306
  6,870
  7,456
  8,067
  8,701
  9,361
  10,046
  10,759
  11,499
  12,268
  13,069
  13,901
  14,768
EBITDA, $m
  737
  948
  1,196
  1,484
  1,814
  2,185
  2,598
  3,054
  3,551
  4,089
  4,667
  5,284
  5,939
  6,632
  7,361
  8,126
  8,927
  9,763
  10,635
  11,543
  12,488
  13,471
  14,492
  15,553
  16,655
  17,802
  18,993
  20,232
  21,521
  22,863
Interest expense (income), $m
  2
  24
  43
  65
  91
  121
  156
  195
  239
  287
  339
  396
  457
  522
  591
  664
  740
  821
  905
  994
  1,085
  1,181
  1,281
  1,384
  1,492
  1,603
  1,720
  1,840
  1,966
  2,096
  2,232
Earnings before tax, $m
  265
  382
  521
  681
  863
  1,068
  1,296
  1,547
  1,820
  2,115
  2,619
  2,957
  3,315
  3,693
  4,091
  4,508
  4,945
  5,401
  5,876
  6,371
  6,886
  7,421
  7,977
  8,555
  9,155
  9,779
  10,428
  11,103
  11,805
  12,536
Tax expense, $m
  72
  103
  141
  184
  233
  288
  350
  418
  491
  571
  707
  798
  895
  997
  1,105
  1,217
  1,335
  1,458
  1,587
  1,720
  1,859
  2,004
  2,154
  2,310
  2,472
  2,640
  2,816
  2,998
  3,187
  3,385
Net income, $m
  193
  279
  380
  497
  630
  780
  946
  1,129
  1,329
  1,544
  1,912
  2,158
  2,420
  2,696
  2,986
  3,291
  3,610
  3,943
  4,290
  4,651
  5,027
  5,417
  5,823
  6,245
  6,683
  7,139
  7,613
  8,105
  8,618
  9,151

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  3,734
  4,801
  6,060
  7,521
  9,190
  11,071
  13,166
  15,474
  17,993
  20,719
  23,648
  26,775
  30,095
  33,604
  37,298
  41,175
  45,233
  49,471
  53,890
  58,491
  63,279
  68,257
  73,431
  78,808
  84,395
  90,202
  96,239
  102,517
  109,049
  115,847
Adjusted assets (=assets-cash), $m
  3,734
  4,801
  6,060
  7,521
  9,190
  11,071
  13,166
  15,474
  17,993
  20,719
  23,648
  26,775
  30,095
  33,604
  37,298
  41,175
  45,233
  49,471
  53,890
  58,491
  63,279
  68,257
  73,431
  78,808
  84,395
  90,202
  96,239
  102,517
  109,049
  115,847
Revenue / Adjusted assets
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
  0.468
Average production assets, $m
  2,609
  3,355
  4,235
  5,255
  6,421
  7,736
  9,199
  10,812
  12,572
  14,477
  16,523
  18,708
  21,028
  23,480
  26,061
  28,770
  31,605
  34,566
  37,654
  40,869
  44,215
  47,693
  51,308
  55,065
  58,969
  63,026
  67,245
  71,631
  76,195
  80,945
Working capital, $m
  -38
  -49
  -62
  -77
  -95
  -114
  -136
  -159
  -185
  -213
  -243
  -276
  -310
  -346
  -384
  -424
  -466
  -509
  -555
  -602
  -652
  -703
  -756
  -811
  -869
  -929
  -991
  -1,056
  -1,123
  -1,193
Total debt, $m
  790
  1,201
  1,686
  2,248
  2,891
  3,615
  4,422
  5,310
  6,280
  7,329
  8,457
  9,661
  10,939
  12,290
  13,712
  15,205
  16,767
  18,399
  20,100
  21,872
  23,715
  25,632
  27,624
  29,694
  31,845
  34,080
  36,405
  38,822
  41,336
  43,954
Total liabilities, $m
  1,438
  1,849
  2,333
  2,896
  3,538
  4,262
  5,069
  5,958
  6,927
  7,977
  9,105
  10,308
  11,586
  12,937
  14,360
  15,852
  17,415
  19,046
  20,747
  22,519
  24,362
  26,279
  28,271
  30,341
  32,492
  34,728
  37,052
  39,469
  41,984
  44,601
Total equity, $m
  2,297
  2,953
  3,727
  4,625
  5,652
  6,809
  8,097
  9,517
  11,066
  12,742
  14,544
  16,466
  18,508
  20,666
  22,938
  25,323
  27,818
  30,424
  33,142
  35,972
  38,917
  41,978
  45,160
  48,467
  51,903
  55,474
  59,187
  63,048
  67,065
  71,246
Total liabilities and equity, $m
  3,735
  4,802
  6,060
  7,521
  9,190
  11,071
  13,166
  15,475
  17,993
  20,719
  23,649
  26,774
  30,094
  33,603
  37,298
  41,175
  45,233
  49,470
  53,889
  58,491
  63,279
  68,257
  73,431
  78,808
  84,395
  90,202
  96,239
  102,517
  109,049
  115,847
Debt-to-equity ratio
  0.340
  0.410
  0.450
  0.490
  0.510
  0.530
  0.550
  0.560
  0.570
  0.580
  0.580
  0.590
  0.590
  0.590
  0.600
  0.600
  0.600
  0.600
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.610
  0.620
  0.620
  0.620
  0.620
Adjusted equity ratio
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615
  0.615

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  193
  279
  380
  497
  630
  780
  946
  1,129
  1,329
  1,544
  1,912
  2,158
  2,420
  2,696
  2,986
  3,291
  3,610
  3,943
  4,290
  4,651
  5,027
  5,417
  5,823
  6,245
  6,683
  7,139
  7,613
  8,105
  8,618
  9,151
Depreciation, amort., depletion, $m
  448
  522
  610
  713
  829
  961
  1,107
  1,268
  1,444
  1,635
  1,652
  1,871
  2,103
  2,348
  2,606
  2,877
  3,161
  3,457
  3,765
  4,087
  4,421
  4,769
  5,131
  5,506
  5,897
  6,303
  6,724
  7,163
  7,620
  8,095
Funds from operations, $m
  641
  802
  991
  1,209
  1,459
  1,740
  2,053
  2,397
  2,773
  3,179
  3,564
  4,029
  4,523
  5,044
  5,593
  6,168
  6,770
  7,399
  8,055
  8,738
  9,448
  10,186
  10,954
  11,751
  12,580
  13,442
  14,337
  15,268
  16,237
  17,246
Change in working capital, $m
  -9
  -11
  -13
  -15
  -17
  -19
  -22
  -24
  -26
  -28
  -30
  -32
  -34
  -36
  -38
  -40
  -42
  -44
  -45
  -47
  -49
  -51
  -53
  -55
  -58
  -60
  -62
  -65
  -67
  -70
Cash from operations, $m
  650
  813
  1,004
  1,224
  1,476
  1,760
  2,075
  2,421
  2,799
  3,207
  3,594
  4,061
  4,557
  5,080
  5,631
  6,208
  6,812
  7,443
  8,101
  8,785
  9,497
  10,238
  11,007
  11,807
  12,638
  13,501
  14,399
  15,333
  16,304
  17,316
Maintenance CAPEX, $m
  -199
  -261
  -335
  -423
  -526
  -642
  -774
  -920
  -1,081
  -1,257
  -1,448
  -1,652
  -1,871
  -2,103
  -2,348
  -2,606
  -2,877
  -3,161
  -3,457
  -3,765
  -4,087
  -4,421
  -4,769
  -5,131
  -5,506
  -5,897
  -6,303
  -6,724
  -7,163
  -7,620
New CAPEX, $m
  -620
  -746
  -880
  -1,021
  -1,166
  -1,314
  -1,464
  -1,613
  -1,760
  -1,905
  -2,046
  -2,185
  -2,320
  -2,452
  -2,581
  -2,709
  -2,835
  -2,961
  -3,088
  -3,215
  -3,345
  -3,478
  -3,615
  -3,757
  -3,904
  -4,058
  -4,218
  -4,387
  -4,564
  -4,750
Cash from investing activities, $m
  -819
  -1,007
  -1,215
  -1,444
  -1,692
  -1,956
  -2,238
  -2,533
  -2,841
  -3,162
  -3,494
  -3,837
  -4,191
  -4,555
  -4,929
  -5,315
  -5,712
  -6,122
  -6,545
  -6,980
  -7,432
  -7,899
  -8,384
  -8,888
  -9,410
  -9,955
  -10,521
  -11,111
  -11,727
  -12,370
Free cash flow, $m
  -168
  -194
  -212
  -219
  -215
  -197
  -163
  -112
  -43
  45
  100
  224
  366
  525
  701
  893
  1,100
  1,321
  1,556
  1,804
  2,065
  2,338
  2,623
  2,919
  3,227
  3,547
  3,878
  4,222
  4,578
  4,946
Issuance/(repayment) of debt, $m
  343
  411
  485
  562
  643
  724
  807
  889
  970
  1,050
  1,128
  1,204
  1,278
  1,351
  1,422
  1,493
  1,562
  1,632
  1,701
  1,772
  1,843
  1,917
  1,992
  2,070
  2,151
  2,236
  2,324
  2,417
  2,515
  2,617
Issuance/(repurchase) of shares, $m
  353
  377
  394
  401
  396
  377
  342
  290
  221
  132
  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  
  696
  788
  879
  963
  1,039
  1,101
  1,149
  1,179
  1,191
  1,182
  1,128
  1,204
  1,278
  1,351
  1,422
  1,493
  1,562
  1,632
  1,701
  1,772
  1,843
  1,917
  1,992
  2,070
  2,151
  2,236
  2,324
  2,417
  2,515
  2,617
Total cash flow (excl. dividends), $m
  528
  594
  667
  744
  824
  905
  986
  1,067
  1,148
  1,227
  1,228
  1,428
  1,644
  1,876
  2,124
  2,386
  2,662
  2,953
  3,258
  3,576
  3,908
  4,254
  4,615
  4,989
  5,378
  5,783
  6,203
  6,639
  7,092
  7,563
Retained Cash Flow (-), $m
  -547
  -656
  -774
  -898
  -1,026
  -1,157
  -1,288
  -1,420
  -1,549
  -1,677
  -1,801
  -1,923
  -2,042
  -2,158
  -2,272
  -2,384
  -2,496
  -2,606
  -2,718
  -2,830
  -2,944
  -3,061
  -3,182
  -3,307
  -3,436
  -3,571
  -3,713
  -3,861
  -4,017
  -4,181
Prev. year cash balance distribution, $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 flow adjustment, $m
  57
  75
  97
  122
  151
  185
  223
  265
  311
  362
  417
  476
  539
  606
  676
  751
  829
  910
  996
  1,084
  1,177
  1,273
  1,374
  1,478
  1,586
  1,698
  1,815
  1,937
  2,063
  2,195
Cash available for distribution, $m
  -19
  -62
  -107
  -154
  -203
  -252
  -302
  -352
  -401
  -450
  -573
  -495
  -397
  -282
  -148
  1
  167
  347
  540
  746
  964
  1,193
  1,433
  1,682
  1,942
  2,211
  2,490
  2,778
  3,075
  3,383
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
  -18
  -57
  -93
  -127
  -157
  -183
  -204
  -220
  -231
  -236
  -272
  -211
  -151
  -95
  -44
  0
  36
  64
  83
  95
  100
  99
  94
  86
  76
  65
  53
  43
  34
  25
Current shareholders' claim on cash, %
  94.9
  90.9
  87.8
  85.3
  83.4
  81.9
  80.8
  80.1
  79.6
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3

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. 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. The Company serves contact centers, back office operations and retail branches, covering various industries, including communications, banking, insurance, healthcare, business processes outsourcing (BPO), government, utilities, travel and entertainment. Its Multi-Channel Recording and Interaction Management enables organizations to capture structured and unstructured customer interaction and transaction data from multiple channels.

FINANCIAL RATIOS  of  NICE ADR (NICE)

Valuation Ratios
P/E Ratio 55.9
Price to Sales 6.4
Price to Book 4.3
Price to Tangible Book
Price to Cash Flow 29.7
Price to Free Cash Flow 35.6
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 $1332 million for the last fiscal year's total revenue generated by NICE ADR. The default revenue input number comes from 2017 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 31.2% 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 86.8%.

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 5.4% 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 4.3%.

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 149.3%.

Life of production assets of 10 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 -2.2%. 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 - $1750 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 60 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 $6.5 billion.

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COMPANY NEWS

▶ 3 Under-the-Radar Robotics Stocks   [Jun-12-18 09:35AM  Motley Fool]
▶ NICE Ltd. Sports a Nice Set of Stock Charts   [Jun-04-18 10:25AM  TheStreet.com]
▶ Worried About FANGs? Consider This Hot Tech ETF   [May-04-18 01:55PM  Zacks]
▶ NICE Kicks-off 2018 EMEA CX Excellence Awards Program   [Mar-06-18 06:30AM  Business Wire]
▶ Nice beats 4Q profit forecasts   [Feb-15-18 11:33AM  Associated Press]
▶ Nice Systems beats 4Q profit forecasts   [05:57AM  Associated Press]
▶ NICE Contact Center Customers Win Four Industry Awards   [Jan-24-18 06:30AM  Business Wire]
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