Wealthedge Investment Advisors LLC Acquires New Holdings in Nice (NASDAQ:NICE)

Key Points

• Wealthedge Investment Advisors LLC acquired 2,856 shares of Nice (NASDAQ:NICE) in the 1st quarter, valued at approximately $440,000.
• Shares of Nice opened at $127.85 with a market capitalization of $8.09 billion and a P/E ratio of 17.83.
• The company reported a quarterly earnings per share (EPS) of $3.01, exceeding analysts' expectations, with a year-over-year revenue growth of 9.4%.

Wealthedge Investment Advisors LLC purchased a new stake in shares of Nice (NASDAQ:NICE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,856 shares of the technology company's stock, valued at approximately $440,000.

Several other large investors have also recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Nice during the fourth quarter valued at $313,808,000. Migdal Insurance & Financial Holdings Ltd. raised its stake 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 valued at $272,306,000 after acquiring an additional 193,000 shares during the last quarter. HMI Capital Management L.P. raised its stake in shares of Nice by 12.8% during the fourth quarter. HMI Capital Management L.P. now owns 1,642,770 shares of the technology company's stock valued at $279,008,000 after acquiring an additional 186,600 shares during the last quarter. Vulcan Value Partners LLC raised its stake in shares of Nice by 9.6% during the first quarter. Vulcan Value Partners LLC now owns 1,046,090 shares of the technology company's stock valued at $161,340,000 after acquiring an additional 91,929 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Nice by 14.1% during the first quarter. Deutsche Bank AG now owns 691,627 shares of the technology company's stock worth $106,628,000 after buying an additional 85,286 shares during the period. Institutional investors own 63.34% of the company's stock.

Nice Price Performance

Shares of NASDAQ NICE opened at $127.85 on Friday. The stock has a market capitalization of $8.09 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.34 and a beta of 0.98. The company has a 50-day moving average price of $161.26 and a 200-day moving average price of $159.13. Nice has a 1 year low of $127.00 and a 1 year high of $200.65.

Nice (NASDAQ:NICE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The technology company reported $3.01 earnings per share (EPS) 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 firm had revenue of $726.71 million during the quarter, compared to analysts' expectations of $713.18 million. During the same period last year, the company earned $2.64 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Nice will post 9.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NICE has been the subject of a number of analyst reports. Wedbush reissued an "outperform" rating and set a $200.00 target price on shares of Nice in a research note on Friday, June 20th. JMP Securities reissued a "market outperform" rating and set a $300.00 target price on shares of Nice in a research note on Tuesday, July 29th. Cantor Fitzgerald reissued a "neutral" rating and set a $161.00 target price on shares of Nice in a research note on Wednesday, June 18th. Wall Street Zen downgraded shares of Nice from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Citigroup lowered their target price on shares of Nice from $214.00 to $211.00 and set a "buy" rating for the company in a research note on Monday, May 19th. 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, Nice presently has an average rating of "Moderate Buy" and an average price target of $206.00.

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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