Private Management Group Inc. Takes Position in Nice (NASDAQ:NICE)

Key Points

• Private Management Group Inc. acquired 97,934 shares of Nice's stock valued at approximately $15.1 million, representing about 0.15% of the company based on its recent SEC filings.
• Several brokerages have recently given Nice an "outperform" rating, with price targets ranging from $182.00 to $300.00 per share, indicating positive sentiment among analysts.
• Nice reported earnings of $2.87 per share for the last quarter, beating estimates, with revenues increasing by 6.2% year-over-year to approximately $700.19 million.

Private Management Group Inc. acquired a new position in Nice (NASDAQ:NICE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 97,934 shares of the technology company's stock, valued at approximately $15,098,000. Private Management Group Inc. owned about 0.15% of Nice as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Anchor Investment Management LLC lifted its stake in Nice by 200.0% in the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock valued at $25,000 after buying an additional 100 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Nice in the 4th quarter valued at $25,000. McIlrath & Eck LLC lifted 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 valued at $27,000 after acquiring an additional 58 shares during the period. NBC Securities Inc. bought a new position in Nice during the first quarter worth $34,000. Finally, Accredited Wealth Management LLC acquired a new stake in Nice in the fourth quarter worth $38,000. 63.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NICE. Royal Bank Of Canada reiterated an "outperform" rating and set a $200.00 price objective on shares of Nice in a report on Wednesday, June 18th. Wedbush reaffirmed an "outperform" rating and set a $200.00 price target on shares of Nice in a research note on Friday, June 20th. Morgan Stanley cut their price target on Nice from $235.00 to $202.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler restated a "neutral" rating and set a $182.00 price objective (up previously from $153.00) on shares of Nice in a report on Friday, June 13th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $300.00 target price on shares of Nice in a research report on Wednesday, June 18th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.75.

Nice Stock Performance

Nice stock opened at $161.62 on Friday. The stock has a market cap of $10.22 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.48 and a beta of 1.00. Nice has a fifty-two week low of $137.19 and a fifty-two week high of $200.65. The firm's 50-day simple moving average is $165.26 and its 200 day simple moving average is $160.46.

Nice (NASDAQ:NICE - Get Free Report) last released its earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.03. Nice had a return on equity of 16.37% and a net margin of 16.77%. The company had revenue of $700.19 million during the quarter, compared to analyst estimates of $699.46 million. During the same period in the prior year, the company posted $2.58 earnings per share. Nice's quarterly revenue was up 6.2% on a year-over-year basis. As a group, analysts predict 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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