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NICE

Nice Systems

$111.59

0.56 (0.50%)

, MATR

Mattersight

$2.60

(0.00%)

07:05
08/06/18
08/06
07:05
08/06/18
07:05

Nice Systems extends tender offer for Mattersight outstanding shares

NICE (NICE) announced that it has, together with its wholly owned subsidiaries, NICE Systems, Inc. and Nice Acquisition Sub, Inc., extended the expiration of its tender offer to acquire all of the outstanding shares of Mattersight Corporation's (MATR) common stock and 7% Series B Convertible Preferred Stock. The tender offer is being extended to allow additional time for the satisfaction of the conditions to the offer. The parties have not yet received the clearance of the Committee on Foreign Investment in the United States, which is a condition to the offer. All other approvals and clearances from regulatory authorities and third parties that are conditions to the offer have been obtained. The tender offer is now scheduled to expire one minute after 11:59 p.m., New York time, on Friday, August 17, 2018, unless it is further extended or earlier terminated in accordance with the merger agreement NICE and Mattersight announced on April 26, 2018. The tender offer was previously scheduled to expire at one minute after 11:59 p.m., New York time, on Friday, August 3, 2018. All other terms and conditions of the tender offer remain unchanged. Continental Stock Transfer & Trust Company, the depositary and paying agent for the tender offer, has advised NICE that as of 5:00 p.m., New York time, on Friday, August 3, 2018, 26,430,707 shares of common stock and 1,576,839 shares of preferred stock had been validly tendered in the offer, and not validly withdrawn, representing approximately 80.1% of the outstanding Mattersight capital stock on an as-converted to common stock basis. In addition, notices of guaranteed delivery have been received with respect to 454,807 shares of common stock and 993 shares of preferred stock for which shares have not yet been delivered to the depositary.

NICE

Nice Systems

$111.59

0.56 (0.50%)

MATR

Mattersight

$2.60

(0.00%)

  • 09

    Aug

NICE Nice Systems
$111.59

0.56 (0.50%)

05/16/18
JEFF
05/16/18
NO CHANGE
Target $119
JEFF
Buy
Nice Systems price target raised to $119 from $112 at Jefferies
Jefferies analyst John DiFucci raised his price target for Nice Systems to $119 and maintains a Buy rating on the shares. The analyst left the company's user conference with more confidence its business is "on the upswing." Nice represents an underappreciated asset at an attractive price, DiFucci tells investors in a research note. He encourages investors "looking for value and accelerating growth" to buy the stock at current levels.
05/17/18
OPCO
05/17/18
NO CHANGE
Target $115
OPCO
Outperform
Nice at the forefront of technologies set to drive growth, says Oppenheimer
Oppenheimer analyst Shaul Eyal reiterated an Outperform rating and $115 price target on Nice following the company's "upbeat" investor day. In a research note to investors, Eyal said that the company remains at the forefront of the advanced technologies that are set to drive growth, adding that the company is increasingly incorporating automation into its solutions that could create significant value.
06/22/18
DADA
06/22/18
INITIATION
Target $110
DADA
Neutral
Nice Systems initiated with a Neutral at DA Davidson
DA Davidson analyst Rishi Jaluria initiated Nice Systems with a Neutral rating and a price target of $110, saying he is positive on the company's market leadership position in the cloud and the ongoing operational improvements under CEO Eilam leading to rising operating margins. The analyst believes that the stock is fairly valued however, opting to await a pullback in price for a more constructive stance.
07/19/18
JEFF
07/19/18
NO CHANGE
Target $43
JEFF
Buy
Jefferies expects rally in Software stocks to continue
Jefferies analyst John DiFucci thinks June quarter results in the Software space "could be relatively strong." The analyst estimates that the currency translation impact for the average software company should be a weaker tailwind than when guidance was given, resulting in a headwind of approximately 180 basis points. He expects the "meaningful, warranted appreciation" in some stocks to continue and raised his price targets accordingly. DiFucci upped his price target for Apptio (APTI) to $43 from $36, for Benefitfocus (BNFT) to $43 from $35, for Check Point (CHKP) to $127 from $117, for Tableau (DATA) to $100 from $87, for Nice Systems (NICE) to $127 from $119, for RingCentral (RNG) to $95 from $91, and for Varonis (VRNS) to $92 from $77. All stocks except Hold-rated Tableau are Buy rated by the analyst.
MATR Mattersight
$2.60

(0.00%)

04/26/18
LSCM
04/26/18
NO CHANGE
Target $2.7
LSCM
Hold
Lake Street does not expect superior offer for Mattersight
While investors may be disappointed at the takeout price paid by Nice Systems (NICE) for Mattersight (MATR), the price is fair, Lake Street analyst Eric Martinuzzi tells investors in a research note. Mattersight is in the process of unwinding a multi-year relationship with UHC, its largest customer, and has over $20M of debt and capital lease obligations, the analyst adds. He does not expect a superior takeover offer and keeps a Hold rating on Mattersight.
04/27/18
CHLM
04/27/18
DOWNGRADE
CHLM
Hold
Mattersight downgraded to Hold from Buy at Craig-Hallum
05/11/18
JMPS
05/11/18
DOWNGRADE
JMPS
Market Perform
Mattersight downgraded to Market Perform from Outperform at JMP Securities
05/11/18
05/11/18
DOWNGRADE

Market Perform
JMP downgrades Mattersight to Market Perform after merger background disclosed
As previously reported, JMP Securities analyst Patrick Walravens downgraded Mattersight (MATR) to Market Perform from Outperform after the company filed its Form SC 14D9 related to its agreement to be acquired by Nice Systems (NICE). The form showed that Nice had initially submitted an offer of $3.32 per share, although it revised this offer downward to $2.70 on April 20 after conducting due diligence that revealed risks around customer attrition and a bookings shortfall in Q1, noted Walravens.

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