Victory Capital Management Inc. Decreases Stock Holdings in Nice (NASDAQ:NICE)

Victory Capital Management Inc. trimmed its holdings in Nice (NASDAQ:NICE - Free Report) by 30.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,498 shares of the technology company's stock after selling 28,044 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of Nice worth $9,944,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NICE. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Nice in the 4th quarter worth approximately $313,808,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Nice in the 1st quarter worth approximately $98,485,000. FIL Ltd purchased a new position in Nice in the 4th quarter worth approximately $70,465,000. Deutsche Bank AG lifted its stake in Nice by 95.7% in the 4th quarter. Deutsche Bank AG now owns 606,341 shares of the technology company's stock worth $102,981,000 after purchasing an additional 296,514 shares in the last quarter. Finally, Wealthquest Corp purchased a new position in Nice in the 1st quarter worth approximately $37,843,000. 63.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NICE has been the subject of a number of recent analyst reports. Wedbush restated an "outperform" rating and set a $200.00 price target on shares of Nice in a report on Friday, June 20th. Piper Sandler restated a "neutral" rating and set a $182.00 price target (up previously from $153.00) on shares of Nice in a report on Friday, June 13th. DA Davidson restated a "neutral" rating and set a $195.00 price target on shares of Nice in a report on Monday. Citigroup cut their price target on shares of Nice from $214.00 to $211.00 and set a "buy" rating for the company in a report on Monday, May 19th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $161.00 price target on shares of Nice in a report on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Nice presently has a consensus rating of "Moderate Buy" and an average price target of $209.75.

Nice Stock Performance

Shares of NASDAQ:NICE traded up $7.95 during trading on Monday, hitting $170.37. The company's stock had a trading volume of 1,176,890 shares, compared to its average volume of 384,856. The company has a market capitalization of $10.78 billion, a PE ratio of 23.76, a P/E/G ratio of 1.48 and a beta of 1.00. The business has a 50 day moving average price of $165.30 and a two-hundred day moving average price of $160.36. Nice has a fifty-two week low of $137.19 and a fifty-two week high of $200.65.

Nice (NASDAQ:NICE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.03. The business had revenue of $700.19 million during the quarter, compared to analysts' expectations of $699.46 million. Nice had a net margin of 16.77% and a return on equity of 16.37%. The company's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.58 EPS. As a group, equities analysts expect that Nice will post 9.85 earnings per share 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.