Parnassus Investments LLC Raises Stake in Nice $NICE

Key Points

• Parnassus Investments LLC increased its holdings in Nice by 6.4%, now owning 550,462 shares worth approximately $84.87 million.
• Several large investors also adjusted their positions, with a total of 63.34% of Nice stock owned by hedge funds and institutional investors.
• NICE recently reported earnings of $3.01 per share, exceeding estimates and demonstrating a 9.4% year-over-year revenue growth.

Parnassus Investments LLC grew its holdings in Nice (NASDAQ:NICE - Free Report) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 550,462 shares of the technology company's stock after buying an additional 33,183 shares during the quarter. Parnassus Investments LLC owned 0.87% of Nice worth $84,865,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in shares of Nice by 4,192.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 601 shares of the technology company's stock worth $102,000 after purchasing an additional 587 shares during the last quarter. Hsbc Holdings PLC bought a new position in Nice during the fourth quarter worth about $2,109,000. Northern Trust Corp increased its stake in Nice by 126.3% during the 4th quarter. Northern Trust Corp now owns 22,345 shares of the technology company's stock worth $3,795,000 after purchasing an additional 12,469 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Nice in the 4th quarter valued at $510,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Nice during the fourth quarter worth about $173,000. Institutional investors and hedge funds own 63.34% of the company's stock.

Nice Trading Down 3.4%

NASDAQ:NICE traded down $4.78 on Tuesday, reaching $136.57. 1,953,058 shares of the stock traded hands, compared to its average volume of 572,622. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.22 and a beta of 0.95. Nice has a 1-year low of $127.00 and a 1-year high of $200.65. The company's 50 day moving average is $154.00 and its 200-day moving average is $156.35.

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

Wall Street Analysts Forecast Growth

NICE has been the subject of a number of recent research reports. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Nice in a research note on Wednesday, June 18th. Piper Sandler reaffirmed a "neutral" rating and issued a $182.00 target price (up previously from $153.00) on shares of Nice in a research report on Friday, June 13th. Wall Street Zen raised shares of Nice from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Morgan Stanley decreased their price target on Nice from $202.00 to $193.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Nice in a research note on Friday, June 20th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.