Formidable Asset Management LLC Takes Position in NICE Ltd. (NASDAQ:NICE)

Formidable Asset Management LLC acquired a new stake in NICE Ltd. (NASDAQ:NICE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,016 shares of the technology company's stock, valued at approximately $682,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NICE. Avion Wealth purchased a new position in shares of NICE in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC purchased a new position in NICE in the 4th quarter valued at approximately $25,000. Anchor Investment Management LLC grew its stake in shares of NICE by 200.0% in the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock worth $25,000 after acquiring an additional 100 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of NICE by 56.9% during the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock worth $27,000 after acquiring an additional 58 shares during the period. Finally, Richardson Financial Services Inc. increased its position in shares of NICE by 43.8% during the fourth quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company's stock worth $38,000 after acquiring an additional 67 shares during the period. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NICE. Citigroup lowered their target price on NICE from $214.00 to $211.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Rosenblatt Securities upped their target price on shares of NICE from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Wedbush restated an "outperform" rating and set a $200.00 target price on shares of NICE in a research note on Friday, May 16th. Royal Bank of Canada restated an "outperform" rating and set a $200.00 target price on shares of NICE in a research note on Friday, May 16th. Finally, Barclays cut their target price on shares of NICE from $286.00 to $226.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, NICE has a consensus rating of "Moderate Buy" and a consensus target price of $211.50.

NICE Stock Up 1.2%

NICE stock traded up $1.93 during mid-day trading on Wednesday, hitting $164.81. The company had a trading volume of 625,875 shares, compared to its average volume of 564,884. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.07 and a beta of 1.03. NICE Ltd. has a 1 year low of $137.19 and a 1 year high of $200.65. The business has a fifty day moving average of $156.10 and a 200 day moving average of $164.49.

NICE (NASDAQ:NICE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.03. The business had revenue of $700.19 million during the quarter, compared to the consensus estimate of $699.46 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. The company's revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.58 earnings per share. Equities analysts anticipate that NICE Ltd. will post 9.85 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.