Janney Montgomery Scott LLC Increases Stock Position in Nice (NASDAQ:NICE)

Janney Montgomery Scott LLC increased its position in shares of Nice (NASDAQ:NICE - Free Report) by 45.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,988 shares of the technology company's stock after acquiring an additional 2,172 shares during the quarter. Janney Montgomery Scott LLC's holdings in Nice were worth $1,077,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Nice during the fourth quarter worth $313,808,000. Boston Partners boosted its stake in Nice by 10.0% during the fourth quarter. Boston Partners now owns 1,670,327 shares of the technology company's stock worth $283,349,000 after buying an additional 151,528 shares during the last quarter. Menora Mivtachim Holdings LTD. raised its position in shares of Nice by 2.3% during the 4th quarter. Menora Mivtachim Holdings LTD. now owns 1,660,037 shares of the technology company's stock valued at $281,941,000 after buying an additional 36,865 shares during the period. HMI Capital Management L.P. boosted its stake in Nice by 12.8% during the fourth quarter. HMI Capital Management L.P. now owns 1,642,770 shares of the technology company's stock worth $279,008,000 after buying an additional 186,600 shares during the period. Finally, Janus Henderson Group PLC grew its position in Nice by 0.9% in the 4th quarter. Janus Henderson Group PLC now owns 650,056 shares of the technology company's stock valued at $110,406,000 after acquiring an additional 5,609 shares in the last quarter. 63.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NICE. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of Nice in a report on Wednesday, June 18th. Piper Sandler reiterated a "neutral" rating and set a $182.00 target price (up previously from $153.00) on shares of Nice in a research report on Friday, June 13th. Citigroup lowered their price target on Nice from $214.00 to $211.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Wedbush reiterated an "outperform" rating and set a $200.00 target price on shares of Nice in a report on Friday, June 20th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $161.00 target price on shares of Nice in a research note on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $209.75.

Nice Stock Performance

NASDAQ NICE opened at $165.09 on Monday. The stock has a 50-day simple moving average of $163.69 and a 200 day simple moving average of $162.03. Nice has a twelve month low of $137.19 and a twelve month high of $200.65. The stock has a market capitalization of $10.44 billion, a PE ratio of 23.03, a P/E/G ratio of 1.50 and a beta of 1.01.

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 (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.03. Nice had a net margin of 16.77% and a return on equity of 16.37%. The company had revenue of $700.19 million for the quarter, compared to the consensus estimate of $699.46 million. During the same quarter in the previous year, the firm posted $2.58 EPS. The business's revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Nice will post 9.85 EPS 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.

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