Renaissance Technologies LLC Invests $18.53 Million in NICE Ltd. (NASDAQ:NICE)

Renaissance Technologies LLC bought a new position in NICE Ltd. (NASDAQ:NICE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 107,744 shares of the technology company’s stock, valued at approximately $18,529,000. Renaissance Technologies LLC owned approximately 0.17% of NICE at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NICE. Richardson Financial Services Inc. acquired a new position in NICE in the first quarter worth $39,000. Allspring Global Investments Holdings LLC grew its holdings in NICE by 135.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock worth $32,000 after acquiring an additional 107 shares during the last quarter. Lindbrook Capital LLC increased its position in NICE by 46.3% in the 1st quarter. Lindbrook Capital LLC now owns 199 shares of the technology company’s stock valued at $52,000 after acquiring an additional 63 shares in the last quarter. GAMMA Investing LLC increased its position in NICE by 72.1% in the 1st quarter. GAMMA Investing LLC now owns 210 shares of the technology company’s stock valued at $55,000 after acquiring an additional 88 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of NICE by 72.4% during the first quarter. UMB Bank n.a. now owns 219 shares of the technology company’s stock worth $57,000 after purchasing an additional 92 shares in the last quarter. 63.34% of the stock is currently owned by institutional investors.

NICE Trading Down 0.6 %

Shares of NASDAQ NICE opened at $164.89 on Friday. 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 Ltd. has a twelve month low of $149.54 and a twelve month high of $270.73. The company’s fifty day moving average is $172.15 and its 200-day moving average is $197.29. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 1.31 and a beta of 1.04.

NICE (NASDAQ:NICE) last posted its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The firm had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $664.10 million. During the same period in the previous year, the firm earned $1.63 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. Equities research analysts predict that NICE Ltd. will post 8.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley lowered their price target on shares of NICE from $290.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Royal Bank of Canada boosted their target price on NICE from $230.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. William Blair reiterated an “outperform” rating on shares of NICE in a report on Wednesday, June 12th. Northland Securities lowered their price objective on NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, August 16th. Finally, Barclays lowered their price target 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. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $269.64.

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.