NICE (NASDAQ:NICE – Get Free Report) posted its quarterly earnings results on Thursday. The technology company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.12, MarketWatch Earnings reports. The business had revenue of $601.30 million during the quarter, compared to analysts’ expectations of $595.00 million. NICE had a net margin of 14.11% and a return on equity of 13.17%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. NICE updated its FY23 guidance to $8.58-8.78 EPS.
NICE Stock Performance
NASDAQ:NICE opened at $194.52 on Friday. The company’s 50-day moving average price is $168.27 and its 200-day moving average price is $191.68. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.14. The company has a market cap of $12.38 billion, a P/E ratio of 39.54, a P/E/G ratio of 2.36 and a beta of 0.89. NICE has a twelve month low of $149.54 and a twelve month high of $231.54.
Hedge Funds Weigh In On NICE
Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital International Investors lifted its stake in shares of NICE by 2.0% in the first quarter. Capital International Investors now owns 1,627,984 shares of the technology company’s stock worth $357,017,000 after buying an additional 32,312 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in NICE by 0.9% during the first quarter. Thrivent Financial for Lutherans now owns 438,162 shares of the technology company’s stock worth $100,291,000 after purchasing an additional 3,755 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in NICE by 33.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 376,153 shares of the technology company’s stock worth $86,098,000 after purchasing an additional 94,161 shares during the period. Goldman Sachs Group Inc. raised its stake in NICE by 163.0% during the first quarter. Goldman Sachs Group Inc. now owns 205,356 shares of the technology company’s stock worth $44,973,000 after purchasing an additional 127,266 shares during the period. Finally, Penn Capital Management Company LLC purchased a new position in NICE during the first quarter worth about $35,147,000. 63.58% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
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 CX that discovers automation opportunities for self-service; digital-entry points solutions that 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.
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