NICE Ltd. (NASDAQ:NICE) Position Boosted by Davis Capital Management

Davis Capital Management lifted its stake in shares of NICE Ltd. (NASDAQ:NICE) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,536 shares of the technology company’s stock after purchasing an additional 399 shares during the period. Davis Capital Management’s holdings in NICE were worth $765,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of NICE. GAMMA Investing LLC acquired a new stake in NICE during the fourth quarter worth about $25,000. Lindbrook Capital LLC raised its stake in NICE by 88.9% during the fourth quarter. Lindbrook Capital LLC now owns 136 shares of the technology company’s stock worth $27,000 after acquiring an additional 64 shares during the period. Richardson Financial Services Inc. acquired a new stake in shares of NICE in the first quarter valued at approximately $39,000. UMB Bank n.a. increased its stake in shares of NICE by 72.4% in the first quarter. UMB Bank n.a. now owns 219 shares of the technology company’s stock valued at $57,000 after purchasing an additional 92 shares during the period. Finally, Principal Securities Inc. acquired a new stake in shares of NICE in the fourth quarter valued at approximately $64,000. Institutional investors own 63.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on NICE shares. Rosenblatt Securities dropped their price target on shares of NICE from $285.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. Morgan Stanley dropped their target price on NICE from $290.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. DA Davidson reissued a “buy” rating and set a $300.00 target price on shares of NICE in a report on Wednesday, June 12th. Royal Bank of Canada dropped their target price on NICE from $265.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Finally, Wedbush reissued an “outperform” rating and set a $250.00 target price on shares of NICE in a report on Wednesday, June 12th. Sixteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $269.64.

NICE Stock Performance

NICE stock traded down $4.97 on Friday, reaching $171.76. 304,627 shares of the stock were exchanged, compared to its average volume of 438,568. The stock has a market cap of $10.80 billion, a PE ratio of 31.00, a PEG ratio of 1.44 and a beta of 1.04. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.13. NICE Ltd. has a twelve month low of $149.54 and a twelve month high of $270.73. The firm has a fifty day moving average price of $174.28 and a two-hundred day moving average price of $209.99.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, May 16th. The technology company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.13. NICE had a net margin of 14.92% and a return on equity of 14.05%. The company had revenue of $659.31 million for the quarter, compared to the consensus estimate of $654.81 million. Sell-side analysts anticipate that NICE Ltd. will post 8.4 EPS 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.