Sanctuary Advisors LLC Makes New Investment in NICE Ltd. (NASDAQ:NICE)

Sanctuary Advisors LLC bought a new stake in shares of NICE Ltd. (NASDAQ:NICE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,458 shares of the technology company’s stock, valued at approximately $595,000.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in NICE by 135.4% during 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. bought a new stake in shares of NICE during the first quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake in NICE by 72.1% in 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 in the last quarter. Rothschild Investment LLC purchased a new position in NICE during the 2nd quarter worth $72,000. Finally, UMB Bank n.a. lifted its holdings in shares of NICE by 151.1% in the 2nd quarter. UMB Bank n.a. now owns 550 shares of the technology company’s stock worth $95,000 after buying an additional 331 shares during the period. 63.34% of the stock is currently owned by institutional investors.

NICE Trading Up 1.3 %

Shares of NICE stock opened at $173.29 on Tuesday. NICE Ltd. has a 12-month low of $149.54 and a 12-month high of $270.73. The firm’s 50 day simple moving average is $168.76 and its two-hundred day simple moving average is $187.27. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 1.34 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NICE shares. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price target on shares of NICE in a research note on Thursday, October 3rd. Barclays lowered their price target on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. JMP Securities reissued a “market outperform” rating and set a $300.00 price objective on shares of NICE in a report on Friday, August 16th. Piper Sandler dropped their target price on NICE from $238.00 to $213.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Northland Securities reduced their price target on NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, August 16th. Sixteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NICE currently has an average rating of “Buy” and an average target price 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.