Acadian Asset Management LLC Acquires 268,677 Shares of NICE Ltd. (NASDAQ:NICE)

Acadian Asset Management LLC boosted its stake in shares of NICE Ltd. (NASDAQ:NICE) by 63.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 694,050 shares of the technology company’s stock after acquiring an additional 268,677 shares during the quarter. Acadian Asset Management LLC owned approximately 1.10% of NICE worth $119,317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of NICE by 135.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after purchasing an additional 107 shares in the last quarter. Richardson Financial Services Inc. bought a new position in NICE in the 1st quarter valued at $39,000. Lindbrook Capital LLC increased its stake in shares of NICE by 46.3% in the 1st quarter. Lindbrook Capital LLC now owns 199 shares of the technology company’s stock valued at $52,000 after buying an additional 63 shares during the period. GAMMA Investing LLC raised its position in shares of NICE by 72.1% during the first quarter. GAMMA Investing LLC now owns 210 shares of the technology company’s stock worth $55,000 after acquiring an additional 88 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of NICE by 72.4% during the first quarter. UMB Bank n.a. now owns 219 shares of the technology company’s stock valued at $57,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 63.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NICE shares. Citigroup boosted their price objective on NICE from $339.00 to $346.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Northland Securities dropped their price target on shares of NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, August 16th. Piper Sandler reduced their price objective on shares of NICE from $238.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. JMP Securities reiterated a “market outperform” rating and set a $300.00 target price on shares of NICE in a research report on Friday, August 16th. Finally, Bank of America cut their price target on NICE from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. Sixteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $269.64.

NICE Trading Down 2.0 %

NASDAQ:NICE opened at $159.14 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. The business’s 50-day simple moving average is $173.58 and its 200-day simple moving average is $202.00. NICE Ltd. has a fifty-two week low of $149.54 and a fifty-two week high of $270.73. The stock has a market capitalization of $10.01 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

NICE (NASDAQ:NICE) last released its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.06. NICE had a net margin of 15.55% and a return on equity of 14.68%. The company had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $664.10 million. During the same quarter in the prior year, the company earned $1.63 earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts expect that NICE Ltd. will post 8.5 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 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.