Heritage Family Offices LLP Makes New $584,000 Investment in NICE Ltd. (NASDAQ:NICE)

Heritage Family Offices LLP bought a new stake in NICE Ltd. (NASDAQ:NICE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,789 shares of the technology company's stock, valued at approximately $584,000.

Several other institutional investors have also added to or reduced their stakes in NICE. Harbor Investment Advisory LLC grew its holdings in shares of NICE by 31.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 2,588 shares of the technology company's stock valued at $399,000 after purchasing an additional 614 shares during the last quarter. NBC Securities Inc. bought a new position in shares of NICE during the first quarter valued at $34,000. Legacy Wealth Asset Management LLC lifted its holdings in NICE by 3.3% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 2,627 shares of the technology company's stock worth $405,000 after buying an additional 83 shares during the period. Rhumbline Advisers lifted its stake in shares of NICE by 4.1% in the first quarter. Rhumbline Advisers now owns 3,892 shares of the technology company's stock worth $600,000 after acquiring an additional 152 shares during the period. Finally, Investors Research Corp lifted its position in shares of NICE by 39,666.7% in the 1st quarter. Investors Research Corp now owns 2,386 shares of the technology company's stock worth $368,000 after purchasing an additional 2,380 shares during the period. 63.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NICE. JMP Securities reaffirmed a "market outperform" rating and set a $300.00 price objective on shares of NICE in a research report on Friday, May 16th. Wall Street Zen lowered NICE from a "strong-buy" rating to a "buy" rating in a report on Monday, February 17th. 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. DA Davidson lifted their target price on NICE from $180.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Citigroup decreased their price target on shares of NICE from $214.00 to $211.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.50.

NICE Trading Up 3.7%

Shares of NICE traded up $6.32 during trading hours on Wednesday, reaching $176.79. 509,149 shares of the company's stock traded hands, compared to its average volume of 555,534. NICE Ltd. has a 12 month low of $137.19 and a 12 month high of $200.65. The stock has a market cap of $11.18 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. The firm's 50 day simple moving average is $156.96 and its 200-day simple moving average is $163.76.

NICE (NASDAQ:NICE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.84 by $0.03. NICE had a return on equity of 16.17% and a net margin of 16.18%. The business had revenue of $700.19 million for the quarter, compared to the consensus estimate of $699.46 million. During the same quarter last year, the business posted $2.58 earnings per share. The company's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts expect that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

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.