Millennium Management LLC boosted its holdings in shares of Nice Ltd (NASDAQ:NICE) by 739.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,464 shares of the technology company’s stock after purchasing an additional 141,353 shares during the period. Millennium Management LLC owned about 0.26% of Nice worth $23,074,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NICE. Invesco Ltd. bought a new position in shares of Nice in the 2nd quarter valued at $372,502,000. William Blair Investment Management LLC lifted its position in shares of Nice by 22.1% during the 2nd quarter. William Blair Investment Management LLC now owns 1,351,820 shares of the technology company’s stock worth $185,185,000 after buying an additional 244,874 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Nice in the second quarter valued at about $27,253,000. Provident Investment Management Inc. acquired a new stake in Nice in the second quarter valued at about $26,351,000. Finally, Russell Investments Group Ltd. grew its position in Nice by 239.2% in the third quarter. Russell Investments Group Ltd. now owns 257,468 shares of the technology company’s stock valued at $37,008,000 after acquiring an additional 181,563 shares during the last quarter. Hedge funds and other institutional investors own 49.46% of the company’s stock.
NICE has been the subject of a number of research reports. ValuEngine cut shares of Nice from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub downgraded shares of Nice from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Jefferies Financial Group increased their price objective on shares of Nice from $166.00 to $179.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Wedbush raised their target price on shares of Nice from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Finally, Morgan Stanley set a $140.00 target price on shares of Nice and gave the stock a “hold” rating in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Nice presently has an average rating of “Buy” and an average price target of $160.33.
Shares of NICE stock opened at $147.90 on Tuesday. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 38.42, a PEG ratio of 3.47 and a beta of 0.72. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $153.10 and its 200-day moving average price is $147.81. Nice Ltd has a 12 month low of $102.56 and a 12 month high of $161.01.
Nice (NASDAQ:NICE) last released its quarterly earnings data on Thursday, November 14th. The technology company reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.04). The firm had revenue of $387.13 million during the quarter, compared to analyst estimates of $385.04 million. Nice had a net margin of 11.99% and a return on equity of 13.14%. On average, sell-side analysts predict that Nice Ltd will post 4.36 earnings per share for the current fiscal year.
Nice Company Profile
NICE Ltd. provides enterprise software solutions worldwide. The company operates in two segments, Customer Engagement, and Financial Crime and Compliance. The Customer Engagement segment offers platform and solutions that empower businesses to deliver consistent and personalized experience across the customer journey, and optimize business performance and ensure compliance.
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