Neuberger Berman Group LLC Has $98.62 Million Stock Position in Nice (NASDAQ:NICE)

Key Points

• Neuberger Berman Group LLC increased its stake in Nice by 40.9% in Q1, owning approximately 1.01% of the company with 639,685 shares valued at $98.62 million.
• A number of brokerage firms have issued mixed ratings, with JMP Securities reaffirming a "market outperform" rating and setting a price target of $300.00, while Morgan Stanley reduced its target to $202.00.
• As of the latest report, shares of Nice traded up 4.0% at $147.99, with a market capitalization of $9.36 billion and recent quarterly earnings surpassing analyst expectations.

Neuberger Berman Group LLC raised its holdings in Nice (NASDAQ:NICE - Free Report) by 40.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 639,685 shares of the technology company's stock after buying an additional 185,716 shares during the quarter. Neuberger Berman Group LLC owned 1.01% of Nice worth $98,620,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. McIlrath & Eck LLC increased its position in shares of Nice by 56.9% during the 4th quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in shares of Nice by 3.3% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 2,627 shares of the technology company's stock worth $405,000 after acquiring an additional 83 shares in the last quarter. Aurora Investment Counsel grew its position in Nice by 0.8% during the 1st quarter. Aurora Investment Counsel now owns 12,056 shares of the technology company's stock worth $1,859,000 after acquiring an additional 96 shares during the last quarter. Anchor Investment Management LLC grew its position in Nice by 200.0% during the 4th quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in Nice by 1.7% during the 4th quarter. Baird Financial Group Inc. now owns 6,059 shares of the technology company's stock valued at $1,029,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 63.34% of the company's stock.

Analysts Set New Price Targets

NICE has been the topic of a number of recent analyst reports. DA Davidson reduced their price objective on Nice from $195.00 to $150.00 and set a "neutral" rating on the stock in a research note on Thursday. Morgan Stanley reduced their price target on shares of Nice from $202.00 to $193.00 and set an "overweight" rating on the stock in a research report on Friday. Wedbush restated an "outperform" rating and issued a $200.00 price objective on shares of Nice in a research report on Friday, June 20th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $190.00 target price on shares of Nice in a research note on Friday. Finally, Wall Street Zen cut shares of Nice from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Nice has a consensus rating of "Moderate Buy" and an average price target of $205.25.

Nice Stock Performance

NASDAQ:NICE traded up $5.31 during trading hours on Friday, hitting $133.16. The stock had a trading volume of 1,281,472 shares, compared to its average volume of 736,570. The business's 50 day moving average is $160.39 and its 200-day moving average is $158.84. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.21 and a beta of 0.98. Nice has a one year low of $127.00 and a one year high of $200.65.

Nice (NASDAQ:NICE - Get Free Report) last posted its 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. Nice had a return on equity of 17.64% and a net margin of 18.92%. The firm had revenue of $726.71 million for the quarter, compared to analyst estimates of $713.18 million. During the same period in the previous year, the company posted $2.64 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that Nice will post 9.85 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.