Wealthquest Corp Purchases New Stake in Nice (NASDAQ:NICE)

Key Points

• Wealthquest Corp has acquired a new stake in Nice, purchasing 245,460 shares valued at approximately $37.8 million, making it the firm's 16th largest position.
• Several institutional investors have also increased their holdings in Nice, including Mediolanum International Funds Ltd, which grew its stake by 82.6% during the first quarter.
• Nice's recent earnings report indicated an EPS of $2.87, exceeding analysts' expectations and reflecting a 6.2% revenue increase year-over-year.

Wealthquest Corp purchased a new position in Nice (NASDAQ:NICE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 245,460 shares of the technology company's stock, valued at approximately $37,843,000. Nice accounts for about 1.7% of Wealthquest Corp's investment portfolio, making the stock its 16th biggest position. Wealthquest Corp owned approximately 0.39% of Nice at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in shares of Nice in the fourth quarter valued at approximately $25,000. Anchor Investment Management LLC raised its position 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 valued at $25,000 after purchasing an additional 100 shares during the period. McIlrath & Eck LLC raised its position in shares of Nice by 56.9% in the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock valued at $27,000 after purchasing an additional 58 shares during the period. NBC Securities Inc. bought a new stake in shares of Nice in the first quarter valued at approximately $34,000. Finally, Accredited Wealth Management LLC bought a new stake in shares of Nice in the fourth quarter valued at approximately $38,000. 63.34% of the stock is owned by institutional investors.

Nice Trading Down 2.2%

Shares of NASDAQ:NICE traded down $3.44 during trading on Friday, reaching $152.61. The company had a trading volume of 745,962 shares, compared to its average volume of 499,655. The company has a fifty day moving average of $164.97 and a two-hundred day moving average of $160.21. The stock has a market capitalization of $9.65 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 1.39 and a beta of 0.98. Nice has a 12 month low of $137.19 and a 12 month high of $200.65.

Nice (NASDAQ:NICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $0.03. The firm had revenue of $700.19 million for 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 business's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 EPS. As a group, equities research analysts predict that Nice will post 9.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JMP Securities reissued a "market outperform" rating and issued a $300.00 price target on shares of Nice in a report on Tuesday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 target price on shares of Nice in a report on Wednesday, June 18th. Rosenblatt Securities reissued a "buy" rating and issued a $190.00 price target on shares of Nice in a report on Wednesday, June 18th. Cantor Fitzgerald restated a "neutral" rating and set a $161.00 price target on shares of Nice in a research report on Wednesday, June 18th. Finally, Morgan Stanley lowered their price objective on Nice from $235.00 to $202.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $209.75.

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.