NICE Ltd. (NASDAQ:NICE) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of NICE Ltd. (NASDAQ:NICE) by 182.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,436 shares of the technology company’s stock after buying an additional 15,788 shares during the quarter. Bank of New York Mellon Corp’s holdings in NICE were worth $4,202,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NICE. Richardson Financial Services Inc. purchased a new position in NICE during the first quarter worth $39,000. Lindbrook Capital LLC lifted its stake in shares of NICE by 46.3% in the first quarter. Lindbrook Capital LLC now owns 199 shares of the technology company’s stock worth $52,000 after acquiring an additional 63 shares in the last quarter. GAMMA Investing LLC raised its stake in NICE by 72.1% during the first quarter. GAMMA Investing LLC now owns 210 shares of the technology company’s stock valued at $55,000 after buying an additional 88 shares in the last quarter. UMB Bank n.a. raised its stake in NICE by 72.4% during the first quarter. UMB Bank n.a. now owns 219 shares of the technology company’s stock valued at $57,000 after buying an additional 92 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of NICE during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

NICE Trading Up 0.8 %

Shares of NICE opened at $164.93 on Friday. The stock has a market capitalization of $10.37 billion, a P/E ratio of 29.77, a PEG ratio of 1.31 and a beta of 1.04. 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 firm has a fifty day simple moving average of $172.85 and a two-hundred day simple moving average of $199.62. NICE Ltd. has a twelve month low of $149.54 and a twelve month high of $270.73.

NICE (NASDAQ:NICE) last issued its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, topping the consensus estimate of $2.58 by $0.06. The business had revenue of $664.40 million during the quarter, compared to analyst estimates of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 EPS. On average, research analysts anticipate that NICE Ltd. will post 8.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler cut their target price on NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Northland Securities dropped their price objective on NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th. DA Davidson reissued a “buy” rating and set a $300.00 target price on shares of NICE in a research report on Wednesday, June 12th. Citigroup lifted their price objective on NICE from $339.00 to $346.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, Bank of America reduced their target price on NICE from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Sixteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $269.64.

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.