Vulcan Value Partners LLC Has $161.34 Million Position in Nice (NASDAQ:NICE)

Key Points

• Vulcan Value Partners LLC increased its position in Nice (NASDAQ:NICE) by 9.6% during the first quarter, owning approximately 1,046,090 shares valued at $161.34 million.
• Numerous institutional investors have also expanded their stakes, with Moors & Cabot Inc. increasing its holdings by 59.2% and Mediolanum International Funds Ltd growing its stake by 82.6% in the same quarter.
• Nice reported a 6.2% year-over-year increase in revenue, achieving $700.19 million, and an earnings per share (EPS) of $2.87, slightly exceeding analysts’ expectations.

Vulcan Value Partners LLC raised its stake in Nice (NASDAQ:NICE - Free Report) by 9.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,046,090 shares of the technology company's stock after purchasing an additional 91,929 shares during the quarter. Nice comprises about 3.0% of Vulcan Value Partners LLC's investment portfolio, making the stock its 14th biggest position. Vulcan Value Partners LLC owned 1.65% of Nice worth $161,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC lifted its stake in shares of 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 acquiring an additional 100 shares in the last quarter. Park Square Financial Group LLC acquired a new position in shares of Nice in the fourth quarter worth about $25,000. McIlrath & Eck LLC lifted its stake in shares of Nice by 56.9% in the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock worth $27,000 after acquiring an additional 58 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Nice in the first quarter worth about $34,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Nice in the fourth quarter worth about $38,000. 63.34% of the stock is owned by hedge funds and other institutional investors.

Nice Stock Down 2.2%

NICE traded down $3.44 during trading on Friday, reaching $152.61. The stock had a trading volume of 745,962 shares, compared to its average volume of 499,655. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.39 and a beta of 0.98. Nice has a 1-year low of $137.19 and a 1-year high of $200.65. The stock has a 50 day moving average of $164.97 and a two-hundred day moving average of $160.16.

Nice (NASDAQ:NICE - Get Free Report) last issued its earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.03. The business had revenue of $700.19 million for the quarter, compared to analysts' expectations of $699.46 million. Nice had a return on equity of 16.37% and a net margin of 16.77%. The company's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 EPS. On average, research analysts forecast that Nice will post 9.85 EPS for the current fiscal year.

Analyst Ratings Changes

NICE has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $161.00 price target on shares of Nice in a research note on Wednesday, June 18th. Piper Sandler reissued a "neutral" rating and issued a $182.00 price objective (up from $153.00) on shares of Nice in a report on Friday, June 13th. Wedbush reissued an "outperform" rating and issued a $200.00 price objective on shares of Nice in a report on Friday, June 20th. Wall Street Zen lowered Nice from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $190.00 target price on shares of Nice in a research note on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $209.75.

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.