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NICE Expands Actimize Platform With Compliancentral Solution

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NICE (NICE - Free Report) recently announced Actimize Compliancentral, a cloud-based, end-to-end communications monitoring and trade compliance solution that will expand the platform’s footprint in the financial services domain.

Compliancentral helps financial services (buy-side, sell-side, online trading platforms, insurance and wealth management firms) capture, retain, monitor and analyze all types of employee communications, along with trade and behavioral data, to reveal hidden conduct risk.

The Compliancentral solution leverages NTR-X Compliance Recording and SURVEIL-X Holistic Conduct Surveillance to capture, archive and monitor into a single, robust cloud compliance platform that is interoperable and lowers costs for enterprises.

Robust Portfolio Aiding NICE’s Prospects

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.
 

Nice Price and Consensus

Nice Price and Consensus

Nice price-consensus-chart | Nice Quote

 

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.

Evidencentral is another solution getting strong adoption. 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, Evidencentral’s Justice was chosen by the Lancaster and Yolo County District Attorney’s Offices.

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.

What Awaits NICE’s Shares in the Rest of 2022?

NICE’s shares have lost 35.9% 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 51.9% 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 revenues 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 Absolute Software , Paylocity (PCTY - Free Report) and Synchronoss (SNCR - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Absolute shares have gained 15.5% in the year-to-date period. The Zacks Consensus Estimate for ABST’s fiscal 2023 earnings has moved 487.5% higher over the past 30 days to 47 cents per share.

Paylocity shares have gained 6.1% 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 49.1% 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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