Woodline Partners LP Takes $2.88 Million Position in NICE Ltd. (NASDAQ:NICE)

Woodline Partners LP acquired a new stake in NICE Ltd. (NASDAQ:NICE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,962 shares of the technology company's stock, valued at approximately $2,881,000.

Several other large investors have also recently added to or reduced their stakes in NICE. Avion Wealth acquired a new position in shares of NICE in the fourth quarter worth $25,000. Tradewinds Capital Management LLC purchased a new position in NICE in the fourth quarter valued at $25,000. Anchor Investment Management LLC grew its stake in NICE by 200.0% during the 4th quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in NICE by 43.8% during the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company's stock worth $38,000 after purchasing an additional 67 shares during the period. Finally, Sandy Spring Bank raised its position in NICE by 181.3% in the 4th quarter. Sandy Spring Bank now owns 225 shares of the technology company's stock valued at $38,000 after purchasing an additional 145 shares in the last quarter. 63.34% of the stock is owned by hedge funds and other institutional investors.

NICE Stock Performance

NICE stock traded up $1.93 during midday trading on Wednesday, hitting $164.81. 625,875 shares of the company's stock were exchanged, compared to its average volume of 564,474. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. NICE Ltd. has a 12-month low of $137.19 and a 12-month high of $200.65. The firm's 50 day simple moving average is $156.10 and its 200 day simple moving average is $164.49.

NICE (NASDAQ:NICE - Get Free Report) last released its quarterly 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 firm had revenue of $700.19 million for the quarter, compared to analyst estimates of $699.46 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. The business's revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $2.58 earnings per share. On average, equities research analysts forecast that NICE Ltd. will post 9.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on NICE. JMP Securities restated a "market outperform" rating and set a $300.00 target price on shares of NICE in a research note on Friday, May 16th. Cantor Fitzgerald reiterated a "neutral" rating and set a $161.00 target price on shares of NICE in a research note on Friday, May 16th. Wedbush restated an "outperform" rating and issued a $200.00 price target on shares of NICE in a research note on Friday, May 16th. Barclays lowered their price objective on NICE from $286.00 to $226.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, DA Davidson raised their target price on NICE from $180.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $211.50.

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.