Scotia Capital Inc. Boosts Stake in Nice (NASDAQ:NICE)

Scotia Capital Inc. lifted its position in Nice (NASDAQ:NICE - Free Report) by 25.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,364 shares of the technology company's stock after acquiring an additional 12,114 shares during the period. Scotia Capital Inc. owned 0.09% of Nice worth $9,152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Anchor Investment Management LLC grew its holdings in Nice by 200.0% in the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock worth $25,000 after purchasing an additional 100 shares during the period. Park Square Financial Group LLC purchased a new position in shares of Nice during the fourth quarter valued at approximately $25,000. McIlrath & Eck LLC boosted its position in shares of Nice by 56.9% in 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. NBC Securities Inc. purchased a new stake in shares of Nice in the 1st quarter worth approximately $34,000. Finally, Cheviot Value Management LLC bought a new position in Nice during the 1st quarter valued at approximately $36,000. Hedge funds and other institutional investors own 63.34% of the company's stock.

Nice Stock Down 2.2%

NICE opened at $152.61 on Monday. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 1.39 and a beta of 0.98. The firm has a 50 day moving average price of $164.97 and a 200-day moving average price of $160.14. Nice has a twelve month low of $137.19 and a twelve month high of $200.65.

Nice (NASDAQ:NICE - Get Free Report) last announced its 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. The business had revenue of $700.19 million during the quarter, compared to analyst estimates of $699.46 million. Nice had a net margin of 16.77% and a return on equity of 16.37%. The company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 EPS. As a group, analysts expect that Nice will post 9.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup dropped their target price on Nice from $214.00 to $211.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Nice in a research report on Wednesday, June 18th. DA Davidson raised shares of Nice to a "hold" rating in a research report on Tuesday, July 29th. Piper Sandler reaffirmed a "neutral" rating and issued a $182.00 target price (up from $153.00) on shares of Nice in a report on Friday, June 13th. Finally, Wall Street Zen downgraded shares of Nice from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Nice currently has a consensus rating of "Moderate Buy" and an average target price of $209.75.

Nice Company 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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