NewEdge Wealth LLC Takes Position in NICE Ltd. (NASDAQ:NICE)

NewEdge Wealth LLC bought a new stake in NICE Ltd. (NASDAQ:NICE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,134 shares of the technology company’s stock, valued at approximately $226,000.

Other large investors have also added to or reduced their stakes in the company. TimesSquare Capital Management LLC increased its holdings in NICE by 2.5% during the third quarter. TimesSquare Capital Management LLC now owns 369,928 shares of the technology company’s stock worth $62,888,000 after buying an additional 9,053 shares during the last quarter. Shelton Capital Management increased its holdings in NICE by 274.5% during the third quarter. Shelton Capital Management now owns 6,685 shares of the technology company’s stock worth $1,136,000 after buying an additional 4,900 shares during the last quarter. Altshuler Shaham Ltd increased its holdings in NICE by 60.0% during the third quarter. Altshuler Shaham Ltd now owns 8,722 shares of the technology company’s stock worth $1,471,000 after buying an additional 3,270 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in NICE by 4.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,018 shares of the technology company’s stock worth $853,000 after buying an additional 228 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in NICE by 6.8% during the third quarter. Van ECK Associates Corp now owns 17,610 shares of the technology company’s stock worth $2,994,000 after buying an additional 1,120 shares during the last quarter. Hedge funds and other institutional investors own 63.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NICE shares. JMP Securities reiterated a “market outperform” rating and issued a $343.00 target price on shares of NICE in a research note on Friday, February 23rd. Barclays lifted their target price on shares of NICE from $283.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. TheStreet upgraded shares of NICE from a “c+” rating to a “b-” rating in a research note on Tuesday, February 6th. Oppenheimer lifted their target price on shares of NICE from $225.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, DA Davidson upgraded shares of NICE from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $300.00 in a research note on Wednesday, March 13th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, NICE has a consensus rating of “Buy” and an average price target of $291.55.

NICE Price Performance

NICE stock opened at $230.95 on Friday. NICE Ltd. has a 12 month low of $149.54 and a 12 month high of $270.73. The firm has a market capitalization of $14.70 billion, a P/E ratio of 45.37, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $241.06 and a 200-day moving average of $207.21.

NICE (NASDAQ:NICE) last announced its earnings results on Thursday, February 22nd. The technology company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.10. NICE had a net margin of 14.23% and a return on equity of 13.29%. The business had revenue of $623.20 million during the quarter, compared to analyst estimates of $616.83 million. During the same period in the previous year, the business posted $1.40 earnings per share. NICE’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that NICE Ltd. will post 8.21 earnings per share 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.