Employees Retirement System of Texas Has $1 Million Stock Holdings in NICE Ltd. (NASDAQ:NICE)

Employees Retirement System of Texas reduced its holdings in shares of NICE Ltd. (NASDAQ:NICE) by 20.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,827 shares of the technology company’s stock after selling 1,463 shares during the period. Employees Retirement System of Texas’ holdings in NICE were worth $1,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its stake in NICE by 135.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after buying an additional 107 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in shares of NICE in the 1st quarter worth approximately $39,000. Lindbrook Capital LLC raised its position in 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 purchasing an additional 63 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 purchasing an additional 88 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of NICE by 72.4% in the first quarter. UMB Bank n.a. now owns 219 shares of the technology company’s stock valued at $57,000 after buying an additional 92 shares in the last quarter. Institutional investors own 63.34% of the company’s stock.

NICE Stock Performance

Shares of NICE stock opened at $168.97 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45. NICE Ltd. has a 52 week low of $149.54 and a 52 week high of $270.73. The company’s 50 day moving average price is $171.12 and its two-hundred day moving average price is $194.81. The company has a market capitalization of $10.62 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.35 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 (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.06. The firm had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. NICE had a return on equity of 14.68% and a net margin of 15.55%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. On average, analysts expect that NICE Ltd. will post 8.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays reduced their price target on shares of NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of NICE in a research report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $250.00 target price on shares of NICE in a report on Friday, August 16th. Morgan Stanley cut their price target on NICE from $290.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Finally, JMP Securities restated a “market outperform” rating and set a $300.00 target price on shares of NICE in a report on Friday, August 16th. Sixteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $269.64.

About NICE

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.