Park Avenue Securities LLC Purchases 2,118 Shares of NICE Ltd. (NASDAQ:NICE)

Park Avenue Securities LLC raised its position in shares of NICE Ltd. (NASDAQ:NICE) by 40.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,295 shares of the technology company’s stock after acquiring an additional 2,118 shares during the quarter. Park Avenue Securities LLC’s holdings in NICE were worth $1,267,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NICE. Allspring Global Investments Holdings LLC lifted its stake in shares of NICE by 135.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after purchasing an additional 107 shares during the period. Richardson Financial Services Inc. bought a new position in shares of NICE during the 1st quarter worth approximately $39,000. GAMMA Investing LLC grew its position in shares of NICE by 72.1% during the 1st quarter. GAMMA Investing LLC now owns 210 shares of the technology company’s stock worth $55,000 after buying an additional 88 shares during the period. UMB Bank n.a. increased its stake in shares of NICE by 72.4% in the 1st quarter. UMB Bank n.a. now owns 219 shares of the technology company’s stock valued at $57,000 after acquiring an additional 92 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of NICE during the 2nd quarter valued at $72,000. Institutional investors own 63.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Morgan Stanley reduced 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. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 target price on shares of NICE in a research report on Friday, August 16th. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a report on Friday, June 14th. Rosenblatt Securities restated a “buy” rating and set a $225.00 price objective on shares of NICE in a report on Tuesday, August 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $250.00 target price on shares of NICE in a report on Friday, August 16th. Sixteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $269.64.

NICE Stock Down 2.2 %

Shares of NASDAQ:NICE opened at $166.65 on Wednesday. NICE Ltd. has a 1 year low of $149.54 and a 1 year high of $270.73. The company has a market capitalization of $10.48 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05. The business has a fifty day moving average price of $169.22 and a two-hundred day moving average price of $189.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45.

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