1832 Asset Management L.P. Buys New Stake in NICE Ltd. (NASDAQ:NICE)

1832 Asset Management L.P. acquired a new stake in NICE Ltd. (NASDAQ:NICE) in the first quarter, Holdings Channel reports. The institutional investor acquired 170,670 shares of the technology company’s stock, valued at approximately $44,480,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of NICE during the 4th quarter valued at about $25,000. Lindbrook Capital LLC raised its stake in shares of NICE by 88.9% during the 4th quarter. Lindbrook Capital LLC now owns 136 shares of the technology company’s stock worth $27,000 after buying an additional 64 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in shares of NICE during the 4th quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new stake in NICE in the 1st quarter valued at $39,000. Finally, UMB Bank n.a. increased its holdings in NICE by 72.4% in the 1st quarter. UMB Bank n.a. now owns 219 shares of the technology company’s stock worth $57,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 63.34% of the company’s stock.

NICE Stock Down 0.4 %

NASDAQ:NICE traded down $0.81 during midday trading on Friday, hitting $180.99. 322,103 shares of the company were exchanged, compared to its average volume of 426,363. The company has a fifty day simple moving average of $176.03 and a 200 day simple moving average of $211.05. NICE Ltd. has a fifty-two week low of $149.54 and a fifty-two week high of $270.73. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $11.38 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, May 16th. The technology company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.13. The company had revenue of $659.31 million for the quarter, compared to analyst estimates of $654.81 million. NICE had a net margin of 14.92% and a return on equity of 14.05%. As a group, equities analysts anticipate that NICE Ltd. will post 8.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NICE has been the topic of a number of research reports. Jefferies Financial Group decreased their price target on shares of NICE from $280.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. Royal Bank of Canada cut their price target on shares of NICE from $265.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Mizuho lowered their price objective on shares of NICE from $300.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Rosenblatt Securities decreased their price objective on shares of NICE from $285.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Finally, Piper Sandler decreased their price objective on shares of NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Sixteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $269.64.

NICE Company 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 the customer engagement market; and smart self service 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.