Mercer Global Advisors Inc. ADV Increases Stake in NICE Ltd. (NASDAQ:NICE)

Mercer Global Advisors Inc. ADV grew its position in NICE Ltd. (NASDAQ:NICE) by 45.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,853 shares of the technology company’s stock after buying an additional 1,824 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in NICE were worth $1,006,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new position in NICE in the 1st quarter worth approximately $39,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of NICE by 135.4% during 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. Lindbrook Capital LLC boosted its position in shares of NICE by 46.3% during the first 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 last quarter. GAMMA Investing LLC increased its holdings in NICE by 72.1% in the 1st quarter. GAMMA Investing LLC now owns 210 shares of the technology company’s stock worth $55,000 after buying an additional 88 shares in the last quarter. Finally, UMB Bank n.a. raised its position 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 buying an additional 92 shares during the last quarter. Institutional investors own 63.34% of the company’s stock.

NICE Stock Down 0.3 %

Shares of NICE stock opened at $170.32 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. NICE Ltd. has a one year low of $149.54 and a one year high of $270.73. The company’s fifty day moving average price is $171.31 and its 200-day moving average price is $194.99. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 1.35 and a beta of 1.04.

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

Analyst Ratings Changes

A number of brokerages have recently commented on NICE. JMP Securities reiterated a “market outperform” rating and issued a $300.00 price target on shares of NICE in a research note on Friday, August 16th. StockNews.com downgraded shares of NICE from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 14th. William Blair reissued an “outperform” rating on shares of NICE in a report on Wednesday, June 12th. Piper Sandler cut their price objective on NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, Barclays lowered their target price on NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Sixteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target 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.