Townsquare Capital LLC Buys 24,446 Shares of Nice (NASDAQ:NICE)

Key Points

• Townsquare Capital LLC significantly increased its holdings in Nice by 1,518.4% during the first quarter, now owning 26,056 shares valued at approximately $4 million.
• Several hedge funds, including Park Square Financial Group and Anchor Investment Management, also expanded or initiated stakes in Nice, reflecting a trend of institutional investment.
• Analysts have mixed ratings for Nice, with a current average rating of "Moderate Buy" and an average price target of $209.75, following recent adjustments in their projections.

Townsquare Capital LLC lifted its stake in Nice (NASDAQ:NICE - Free Report) by 1,518.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,056 shares of the technology company's stock after buying an additional 24,446 shares during the period. Townsquare Capital LLC's holdings in Nice were worth $4,017,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NICE. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Nice during the fourth quarter worth $313,808,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Nice during the first quarter worth $98,485,000. Deutsche Bank AG increased its holdings in shares of Nice by 95.7% during the fourth quarter. Deutsche Bank AG now owns 606,341 shares of the technology company's stock worth $102,981,000 after buying an additional 296,514 shares in the last quarter. Wealthquest Corp acquired a new position in shares of Nice during the first quarter worth $37,843,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Nice by 12.3% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,766,270 shares of the technology company's stock worth $272,306,000 after buying an additional 193,000 shares in the last quarter. 63.34% of the stock is currently owned by institutional investors.

Nice Stock Performance

Nice stock traded down $20.14 during mid-day trading on Thursday, reaching $127.85. The company's stock had a trading volume of 2,749,460 shares, compared to its average volume of 551,034. Nice has a 12-month low of $127.00 and a 12-month high of $200.65. The company has a market capitalization of $8.09 billion, a P/E ratio of 17.83, a PEG ratio of 1.29 and a beta of 0.98. The firm's fifty day moving average price is $162.22 and its two-hundred day moving average price is $159.42.

Nice (NASDAQ:NICE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The technology company reported $3.01 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $0.02. Nice had a net margin of 16.77% and a return on equity of 16.37%. The business had revenue of $726.71 million during the quarter, compared to analyst estimates of $713.18 million. During the same period in the previous year, the business earned $2.64 EPS. Nice's revenue was up 9.4% compared to the same quarter last year. On average, research analysts predict that Nice will post 9.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NICE. Wall Street Zen downgraded shares of Nice from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Citigroup cut their price objective on shares of Nice from $214.00 to $211.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. JMP Securities reissued a "market outperform" rating and set a $300.00 price objective on shares of Nice in a research report on Tuesday, July 29th. 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. Finally, Wedbush reiterated an "outperform" rating and issued a $200.00 price objective on shares of Nice in a research note on Friday, June 20th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Nice has an average 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.