GAMMA Investing LLC Increases Stake in NICE Ltd. (NASDAQ:NICE)

GAMMA Investing LLC raised its stake in NICE Ltd. (NASDAQ:NICE) by 89.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 245 shares of the technology company’s stock after acquiring an additional 116 shares during the period. GAMMA Investing LLC’s holdings in NICE were worth $43,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. First Hawaiian Bank purchased a new stake in shares of NICE during the 2nd quarter valued at about $516,000. Diversified Trust Co lifted its stake in NICE by 237.9% in the second quarter. Diversified Trust Co now owns 6,478 shares of the technology company’s stock worth $1,114,000 after purchasing an additional 4,561 shares during the last quarter. Capital World Investors bought a new stake in NICE in the first quarter worth about $9,699,000. Bayesian Capital Management LP boosted its position in shares of NICE by 160.6% during the first quarter. Bayesian Capital Management LP now owns 7,465 shares of the technology company’s stock valued at $1,946,000 after buying an additional 4,600 shares during the period. Finally, QRG Capital Management Inc. bought a new position in shares of NICE during the first quarter valued at approximately $813,000. Institutional investors own 63.34% of the company’s stock.

Wall Street Analysts Forecast Growth

NICE has been the subject of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of NICE in a research note on Tuesday, August 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 price target on shares of NICE in a research note on Friday, August 16th. Barclays decreased their price objective on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Northland Securities reduced their target price on shares of NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th. Finally, Piper Sandler decreased their price target on shares of NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Sixteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $269.64.

NICE Trading Up 0.5 %

NASDAQ NICE opened at $178.70 on Friday. NICE Ltd. has a 52 week low of $149.54 and a 52 week high of $270.73. The company has a 50 day moving average price of $169.38 and a 200 day moving average price of $186.57. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. The firm has a market cap of $11.24 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05.

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