Cerity Partners LLC Grows Position in Nice (NASDAQ:NICE)

Cerity Partners LLC grew its stake in Nice (NASDAQ:NICE) by 56.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,986 shares of the technology company’s stock after purchasing an additional 3,584 shares during the period. Cerity Partners LLC’s holdings in Nice were worth $1,540,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NICE. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Nice during the fourth quarter worth $313,808,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Nice during the first quarter worth $98,485,000. FIL Ltd purchased a new position in shares of Nice during the fourth quarter worth $70,465,000. Deutsche Bank AG boosted its position in shares of Nice by 95.7% during the fourth quarter. Deutsche Bank AG now owns 606,341 shares of the technology company’s stock worth $102,981,000 after buying an additional 296,514 shares during the period. Finally, Wealthquest Corp purchased a new position in shares of Nice during the first quarter worth $37,843,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NICE. DA Davidson increased their price target on shares of Nice from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, June 20th. Morgan Stanley reduced their price objective on shares of Nice from $235.00 to $202.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Piper Sandler reissued a “neutral” rating and issued a $182.00 price target (up from $153.00) on shares of Nice in a report on Friday, June 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $190.00 price objective on shares of Nice in a report on Wednesday, June 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $300.00 price objective on shares of Nice in a report on Wednesday, June 18th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $209.75.

Nice Stock Performance

Nice stock opened at $155.47 on Tuesday. The company has a 50-day simple moving average of $165.72 and a 200-day simple moving average of $160.56. The firm has a market capitalization of $9.83 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.39 and a beta of 1.00. Nice has a one year low of $137.19 and a one year high of $200.65.

Nice (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, May 15th. The technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.03. The company had revenue of $700.19 million during the quarter, compared to analyst estimates of $699.46 million. Nice had a net margin of 16.77% and a return on equity of 16.37%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.58 earnings per share. As a group, sell-side analysts forecast that Nice will post 9.85 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.