Victory Capital Management Inc. Makes New $10.72 Million Investment in NICE Ltd. (NASDAQ:NICE)

Victory Capital Management Inc. purchased a new stake in NICE Ltd. (NASDAQ:NICE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 62,336 shares of the technology company’s stock, valued at approximately $10,720,000. Victory Capital Management Inc. owned approximately 0.10% of NICE as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. Capital Research Global Investors raised its stake in NICE by 4.0% in the first quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock worth $1,350,367,000 after buying an additional 201,035 shares in the last quarter. Capital International Investors raised its position in shares of NICE by 16.2% in the 4th quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock worth $426,402,000 after acquiring an additional 298,112 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of NICE by 12.3% in the 1st quarter. William Blair Investment Management LLC now owns 1,364,561 shares of the technology company’s stock worth $355,631,000 after acquiring an additional 149,149 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of NICE by 2.1% during the 1st quarter. Bessemer Group Inc. now owns 965,400 shares of the technology company’s stock worth $251,602,000 after purchasing an additional 19,903 shares during the last quarter. Finally, Boston Partners boosted its position in NICE by 1.1% during the first quarter. Boston Partners now owns 891,244 shares of the technology company’s stock valued at $231,202,000 after purchasing an additional 10,088 shares in the last quarter. Institutional investors own 63.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NICE. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of NICE in a research report on Tuesday, August 13th. Barclays decreased their target price on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. William Blair reaffirmed an “outperform” rating on shares of NICE in a report on Wednesday, June 12th. Morgan Stanley decreased their price objective on NICE from $290.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Finally, StockNews.com cut NICE from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 14th. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $269.64.

NICE Trading Up 0.8 %

NICE stock opened at $164.93 on Friday. The stock has a 50-day moving average price of $172.85 and a 200 day moving average price of $199.27. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. NICE Ltd. has a 52 week low of $149.54 and a 52 week high of $270.73. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13.

NICE (NASDAQ:NICE) last announced its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.58 by $0.06. The business had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.63 EPS. Sell-side analysts anticipate that NICE Ltd. will post 8.5 EPS for the current year.

About NICE

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.