Brown Advisory Inc. Makes New $513,000 Investment in Nice (NASDAQ:NICE)

Brown Advisory Inc. purchased a new position in shares of Nice (NASDAQ:NICE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,329 shares of the technology company’s stock, valued at approximately $513,000.

Other large investors also recently added to or reduced their stakes in the company. Anchor Investment Management LLC raised its stake in Nice by 200.0% in the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in Nice in the fourth quarter valued at $25,000. McIlrath & Eck LLC raised its stake in Nice by 56.9% in the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. NBC Securities Inc. acquired a new stake in Nice in the first quarter valued at $34,000. Finally, Sandy Spring Bank raised its stake in Nice by 181.3% in the fourth quarter. Sandy Spring Bank now owns 225 shares of the technology company’s stock valued at $38,000 after buying an additional 145 shares in the last quarter. 63.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NICE. Citigroup dropped their price objective on Nice from $214.00 to $211.00 and set a “buy” rating on the stock in a report on Monday, May 19th. 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. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nice in a report on Wednesday, June 18th. Piper Sandler reaffirmed a “neutral” rating and set a $182.00 price objective (up previously from $153.00) on shares of Nice in a report on Friday, June 13th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $161.00 price objective on shares of Nice in a report on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nice has an average rating of “Moderate Buy” and an average target price of $209.75.

Nice Stock Down 1.9%

NASDAQ NICE opened at $151.92 on Tuesday. Nice has a 52-week low of $137.19 and a 52-week high of $200.65. The business’s 50-day moving average price is $166.54 and its 200 day moving average price is $161.19. The firm has a market cap of $9.61 billion, a P/E ratio of 21.19, a P/E/G ratio of 1.41 and a beta of 1.00.

Nice (NASDAQ:NICE) last announced its quarterly earnings data on Thursday, May 15th. The technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.03. Nice had a return on equity of 16.37% and a net margin of 16.77%. The company had revenue of $700.19 million for the quarter, compared to analyst estimates of $699.46 million. During the same quarter in the previous year, the company earned $2.58 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, analysts anticipate 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.