Exchange Traded Concepts LLC boosted its position in shares of NICE Ltd. (NASDAQ:NICE – Free Report) by 70.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,614 shares of the technology company’s stock after acquiring an additional 1,082 shares during the period. Exchange Traded Concepts LLC’s holdings in NICE were worth $540,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of NICE by 6.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,528 shares of the technology company’s stock valued at $773,000 after buying an additional 225 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NICE by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 12,314 shares of the technology company’s stock valued at $2,697,000 after buying an additional 167 shares in the last quarter. American Century Companies Inc. raised its stake in shares of NICE by 45.7% in the 1st quarter. American Century Companies Inc. now owns 2,299 shares of the technology company’s stock valued at $503,000 after buying an additional 721 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of NICE by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,717 shares of the technology company’s stock valued at $1,032,000 after buying an additional 128 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of NICE by 55.7% in the 1st quarter. Bank of Montreal Can now owns 5,294 shares of the technology company’s stock valued at $1,192,000 after buying an additional 1,893 shares in the last quarter. Institutional investors and hedge funds own 63.58% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on NICE. TheStreet cut NICE from a “b-” rating to a “c+” rating in a report on Tuesday, September 12th. DA Davidson began coverage on NICE in a report on Thursday, September 28th. They issued a “neutral” rating and a $190.00 target price for the company. William Blair began coverage on shares of NICE in a research report on Wednesday, July 26th. They set an “outperform” rating for the company. Citigroup increased their target price on shares of NICE from $278.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Finally, JMP Securities reiterated a “market outperform” rating and set a $343.00 target price on shares of NICE in a research report on Friday, August 18th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.50.
NICE Trading Up 1.7 %
NICE opened at $169.91 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $10.81 billion, a PE ratio of 36.94, a PEG ratio of 2.05 and a beta of 0.89. NICE Ltd. has a 1-year low of $164.65 and a 1-year high of $231.54. The firm has a 50-day moving average price of $191.88 and a two-hundred day moving average price of $202.36.
NICE (NASDAQ:NICE – Get Free Report) last released its earnings results on Thursday, August 17th. The technology company reported $2.13 EPS for the quarter, beating the consensus estimate of $2.05 by $0.08. The company had revenue of $581.10 million during the quarter, compared to analysts’ expectations of $579.30 million. NICE had a return on equity of 12.80% and a net margin of 13.48%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. As a group, equities analysts anticipate that NICE Ltd. will post 6.5 earnings per share for the current fiscal year.
NICE Profile
NICE Ltd., together with its subsidiaries, provides cloud platforms for AI-driven digital business solutions worldwide. It offers CXone, a cloud native open platform; Enlighten, an AI engine for CX that discovers automation opportunities for self-service; digital-entry points solutions that enable organizations to address consumers' needs; and journey orchestration solutions that empower organizations to connect and route customers to deal with the customer's request, and connects them using real time AI-based routing.
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