Maverick Capital Ltd. Takes $1.64 Million Position in NICE Ltd. (NASDAQ:NICE)

Maverick Capital Ltd. bought a new stake in NICE Ltd. (NASDAQ:NICE) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 9,531 shares of the technology company’s stock, valued at approximately $1,639,000.

Several other institutional investors and hedge funds have also bought and sold shares of NICE. Allspring Global Investments Holdings LLC grew its holdings in 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 during the period. Richardson Financial Services Inc. bought a new stake in NICE in the 1st quarter valued at about $39,000. Lindbrook Capital LLC lifted its holdings in 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 purchasing an additional 63 shares during the last quarter. GAMMA Investing LLC boosted its position in 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 period. 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 worth $57,000 after purchasing an additional 92 shares in the last quarter. 63.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on NICE shares. Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of NICE in a research note on Tuesday, August 13th. Citigroup raised their price target on NICE from $339.00 to $346.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Piper Sandler reduced their price target on NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Northland Securities cut their target price on NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, August 16th. Finally, StockNews.com downgraded NICE from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 14th. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $269.64.

NICE Stock Performance

NASDAQ:NICE opened at $171.44 on Friday. The business’s 50-day moving average price is $171.01 and its two-hundred day moving average price is $194.34. NICE Ltd. has a twelve month low of $149.54 and a twelve month high of $270.73. The stock has a market cap of $10.78 billion, a P/E ratio of 30.95, a PEG ratio of 1.35 and a beta of 1.04. 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 released its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The firm had revenue of $664.40 million for the quarter, compared to analysts’ expectations of $664.10 million. During the same quarter last year, the firm posted $1.63 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts predict that NICE Ltd. will post 8.5 EPS for the current fiscal year.

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.