Cerity Partners LLC Increases Stake in Nice (NASDAQ:NICE)

Cerity Partners LLC increased its stake in Nice (NASDAQ:NICE) by 56.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,986 shares of the technology company’s stock after acquiring 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 reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Advisory Inc. acquired a new stake in Nice during the first quarter worth $513,000. Heritage Family Offices LLP purchased a new stake in Nice in the 1st quarter valued at about $584,000. DAVENPORT & Co LLC acquired a new position in Nice in the first quarter valued at about $1,360,000. Crossmark Global Holdings Inc. boosted its stake in Nice by 46.4% during the first quarter. Crossmark Global Holdings Inc. now owns 9,764 shares of the technology company’s stock worth $1,505,000 after buying an additional 3,094 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in shares of Nice by 5.1% during the first quarter. Asset Management One Co. Ltd. now owns 47,934 shares of the technology company’s stock valued at $7,390,000 after acquiring an additional 2,335 shares during the last quarter. Hedge funds and other institutional investors own 63.34% of the company’s stock.

Nice Stock Performance

NICE stock opened at $155.47 on Tuesday. The firm has a market cap of $9.83 billion, a P/E 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 has a 50-day simple moving average of $165.72 and a 200-day simple moving average of $160.56.

Nice (NASDAQ:NICE) last announced its earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share (EPS) for the quarter, topping 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 business had revenue of $700.19 million for the quarter, compared to analyst estimates of $699.46 million. During the same period in the previous year, the company earned $2.58 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Nice will post 9.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NICE. Wedbush reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nice in a research report on Friday, June 20th. Morgan Stanley dropped their target price on Nice from $235.00 to $202.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Piper Sandler restated a “neutral” rating and set a $182.00 target price (up previously from $153.00) on shares of Nice in a research note on Friday, June 13th. Citigroup lowered their price target on Nice from $214.00 to $211.00 and set a “buy” rating for the company in a report on Monday, May 19th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $190.00 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $209.75.

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.