Cerity Partners LLC Boosts Holdings in Nice (NASDAQ:NICE)

Cerity Partners LLC raised its holdings in shares of Nice (NASDAQ:NICE) by 56.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,986 shares of the technology company’s stock after purchasing an additional 3,584 shares during the quarter. 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 have also made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Nice in the fourth quarter worth about $313,808,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Nice in the 1st quarter valued at about $98,485,000. FIL Ltd bought a new position in shares of Nice during the 4th quarter valued at about $70,465,000. Deutsche Bank AG raised its holdings in shares of Nice by 95.7% in the 4th quarter. Deutsche Bank AG now owns 606,341 shares of the technology company’s stock worth $102,981,000 after purchasing an additional 296,514 shares in the last quarter. Finally, Wealthquest Corp acquired a new stake in Nice during the first quarter valued at approximately $37,843,000. Institutional investors and hedge funds own 63.34% of the company’s stock.

Nice Trading Up 1.3%

Shares of NASDAQ:NICE opened at $155.47 on Tuesday. The stock has a market cap of $9.83 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. Nice has a 1-year low of $137.19 and a 1-year high of $200.65. The stock’s fifty day simple moving average is $165.72 and its two-hundred day simple moving average is $160.56.

Nice (NASDAQ:NICE) last issued its quarterly earnings data on Thursday, May 15th. The technology company reported $2.87 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $699.46 million. During the same quarter in the previous year, the firm earned $2.58 earnings per share. Nice’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Nice will post 9.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wedbush restated an “outperform” rating and issued a $200.00 price target on shares of Nice in a research report on Friday, June 20th. DA Davidson upped their price objective on shares of Nice from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, June 20th. Morgan Stanley dropped their price target on shares of Nice from $235.00 to $202.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Rosenblatt Securities restated a “buy” rating and set a $190.00 price target on shares of Nice in a research note on Wednesday, June 18th. Finally, Citigroup lowered their target price on shares of Nice from $214.00 to $211.00 and set a “buy” rating on the stock in a research note on Monday, May 19th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Nice presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.75.

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.