NICE Ltd. (NASDAQ:NICE) Stock Position Increased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its position in NICE Ltd. (NASDAQ:NICE) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,917 shares of the technology company’s stock after purchasing an additional 320 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in NICE were worth $680,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new stake in shares of NICE during the 1st quarter worth about $39,000. Allspring Global Investments Holdings LLC increased its stake in shares of NICE by 135.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after acquiring an additional 107 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of NICE during the third quarter valued at approximately $38,000. GAMMA Investing LLC raised its holdings in NICE by 89.9% during the third quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock worth $43,000 after purchasing an additional 116 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in NICE in the second quarter worth approximately $72,000. 63.34% of the stock is currently owned by institutional investors.

NICE Stock Performance

Shares of NASDAQ NICE opened at $171.91 on Friday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.41 and a beta of 1.04. The stock’s fifty day simple moving average is $170.56 and its 200 day simple moving average is $181.45. NICE Ltd. has a 52-week low of $151.52 and a 52-week high of $270.73.

NICE (NASDAQ:NICE) last issued its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The business had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. During the same quarter in the previous year, the company posted $1.63 earnings per share. NICE’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts forecast that NICE Ltd. will post 8.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price target on shares of NICE in a research report on Tuesday, August 13th. JMP Securities reaffirmed a “market outperform” rating and set a $300.00 target price on shares of NICE in a report on Friday, August 16th. Wedbush reissued an “outperform” rating and issued a $250.00 price target on shares of NICE in a report on Friday, August 16th. Piper Sandler reduced their price objective on shares of NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Finally, Barclays dropped their target price on shares of NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Sixteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $269.64.

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.