NICE Ltd. (NASDAQ:NICE) Shares Purchased by Earnest Partners LLC

Earnest Partners LLC raised its stake in NICE Ltd. (NASDAQ:NICE) by 33.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 137,062 shares of the technology company’s stock after buying an additional 34,386 shares during the quarter. Earnest Partners LLC owned approximately 0.22% of NICE worth $23,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. increased its holdings in shares of NICE by 1,340.2% in the 4th quarter. Point72 Asset Management L.P. now owns 467,231 shares of the technology company’s stock worth $93,217,000 after acquiring an additional 434,789 shares during the period. Capital International Investors increased its stake in shares of NICE by 16.2% in the fourth quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock valued at $426,402,000 after purchasing an additional 298,112 shares during the period. Acadian Asset Management LLC raised its holdings in shares of NICE by 63.2% during the second quarter. Acadian Asset Management LLC now owns 694,050 shares of the technology company’s stock valued at $119,317,000 after buying an additional 268,677 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of NICE during the second quarter worth approximately $44,076,000. Finally, Black Creek Investment Management Inc. grew its holdings in NICE by 22.6% in the 2nd quarter. Black Creek Investment Management Inc. now owns 1,356,775 shares of the technology company’s stock worth $233,325,000 after buying an additional 250,334 shares in the last quarter. Institutional investors and hedge funds own 63.34% of the company’s stock.

Analysts Set New Price Targets

NICE has been the subject of a number of analyst reports. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 14th. Wedbush reissued an “outperform” rating and set a $250.00 target price on shares of NICE in a research note on Friday, August 16th. William Blair reaffirmed an “outperform” rating on shares of NICE in a research note on Wednesday, June 12th. Barclays dropped 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. Finally, DA Davidson restated a “buy” rating and issued a $300.00 target price on shares of NICE in a research report on Wednesday, June 12th. Sixteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $269.64.

NICE Stock Down 0.8 %

Shares of NICE stock opened at $168.97 on Friday. The stock’s fifty day moving average is $171.12 and its 200-day moving average is $194.81. The firm has a market capitalization of $10.62 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04. NICE Ltd. has a 12-month low of $149.54 and a 12-month high of $270.73. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13.

NICE (NASDAQ:NICE) last announced its earnings results on Thursday, August 15th. The technology company reported $2.64 EPS 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 company had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $664.10 million. During the same period last year, the company posted $1.63 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts anticipate that NICE Ltd. will post 8.5 earnings per share for the current 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.