DAVENPORT & Co LLC Has $2.56 Million Stake in Nice $NICE

Key Points

• DAVENPORT & Co LLC increased its stake in Nice by 71.7%, holding 15,150 shares valued at approximately $2.56 million by the end of the second quarter.
• Other major investors, including Deutsche Bank AG and Townsquare Capital LLC, have also significantly increased their positions in Nice, reflecting strong institutional interest.
• Nice reported quarterly earnings of $3.01 per share, exceeding estimates, with revenue growth of 9.4% compared to the previous year, reflecting ongoing solid performance.

DAVENPORT & Co LLC lifted its position in shares of Nice (NASDAQ:NICE - Free Report) by 71.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,150 shares of the technology company's stock after purchasing an additional 6,329 shares during the quarter. DAVENPORT & Co LLC's holdings in Nice were worth $2,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG raised its position in Nice by 14.1% in the 1st quarter. Deutsche Bank AG now owns 691,627 shares of the technology company's stock valued at $106,628,000 after buying an additional 85,286 shares during the last quarter. Cerity Partners LLC raised its position in Nice by 56.0% in the 1st quarter. Cerity Partners LLC now owns 9,986 shares of the technology company's stock valued at $1,540,000 after buying an additional 3,584 shares during the last quarter. Brown Advisory Inc. purchased a new stake in Nice in the 1st quarter valued at $513,000. Townsquare Capital LLC raised its position in Nice by 1,518.4% in the 1st quarter. Townsquare Capital LLC now owns 26,056 shares of the technology company's stock valued at $4,017,000 after buying an additional 24,446 shares during the last quarter. Finally, ARK Investment Management LLC raised its position in Nice by 17.2% in the 1st quarter. ARK Investment Management LLC now owns 11,883 shares of the technology company's stock valued at $1,832,000 after buying an additional 1,746 shares during the last quarter. 63.34% of the stock is owned by hedge funds and other institutional investors.

Nice Stock Performance

NICE stock opened at $138.20 on Thursday. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.17 and a beta of 0.96. Nice has a fifty-two week low of $127.00 and a fifty-two week high of $200.65. The stock has a fifty day moving average of $143.45 and a 200-day moving average of $154.74.

Nice (NASDAQ:NICE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The technology company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.02. The company had revenue of $726.71 million during the quarter, compared to the consensus estimate of $713.18 million. Nice had a return on equity of 17.43% and a net margin of 18.92%.The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.64 EPS. Nice has set its FY 2025 guidance at 12.330-12.530 EPS. Q3 2025 guidance at 3.120-3.220 EPS. Equities analysts predict that Nice will post 9.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NICE. Piper Sandler reissued a "neutral" rating and issued a $182.00 price target (up from $153.00) on shares of Nice in a research report on Friday, June 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Nice in a research report on Wednesday. JMP Securities restated a "market outperform" rating and issued a $300.00 price objective on shares of Nice in a research note on Tuesday, August 26th. Wedbush restated an "outperform" rating and issued a $200.00 price objective on shares of Nice in a research note on Friday, June 20th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $190.00 price objective on shares of Nice in a research note on Friday, August 15th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $205.25.

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.

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