NICE Ltd. (NASDAQ:NICE) Stock Position Lifted by Sea Cliff Partners Management LP

Sea Cliff Partners Management LP raised its stake in shares of NICE Ltd. (NASDAQ:NICE) by 22.1% during the second quarter, Holdings Channel reports. The firm owned 151,734 shares of the technology company’s stock after buying an additional 27,482 shares during the quarter. NICE makes up approximately 8.9% of Sea Cliff Partners Management LP’s portfolio, making the stock its 6th biggest position. Sea Cliff Partners Management LP’s holdings in NICE were worth $26,094,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. 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 worth $32,000 after purchasing an additional 107 shares in the last quarter. Richardson Financial Services Inc. bought a new position in NICE during the 1st quarter valued at about $39,000. Lindbrook Capital LLC lifted its stake in NICE by 46.3% during the 1st quarter. Lindbrook Capital LLC now owns 199 shares of the technology company’s stock valued at $52,000 after acquiring an additional 63 shares during the period. GAMMA Investing LLC lifted its stake in NICE by 72.1% during the 1st quarter. GAMMA Investing LLC now owns 210 shares of the technology company’s stock valued at $55,000 after acquiring an additional 88 shares during the period. Finally, UMB Bank n.a. lifted its stake in NICE by 72.4% during the 1st 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. 63.34% of the stock is owned by hedge funds and other institutional investors.

NICE Price Performance

Shares of NICE opened at $168.97 on Friday. The company has a 50 day moving average price of $171.12 and a 200-day moving average price of $194.81. 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 $10.62 billion, a PE ratio of 30.50, a PEG ratio of 1.35 and a beta of 1.04. 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 (NASDAQ:NICE) last announced its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping 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 firm 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 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that NICE Ltd. will post 8.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $250.00 price objective on shares of NICE in a report on Friday, August 16th. Piper Sandler reduced their price objective on NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. StockNews.com downgraded NICE from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 14th. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price target on shares of NICE in a research report on Tuesday, August 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $300.00 price objective on shares of NICE in a research report on Friday, August 16th. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, NICE presently has an average rating of “Buy” and an average price target of $269.64.

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.