Choreo LLC Buys New Holdings in NICE Ltd. (NASDAQ:NICE)

Choreo LLC bought a new stake in NICE Ltd. (NASDAQ:NICE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,249 shares of the technology company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its holdings in NICE by 4.0% in the first quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock valued at $1,350,367,000 after acquiring an additional 201,035 shares during the last quarter. Capital International Investors raised its position in NICE by 16.2% in the fourth quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock valued at $426,402,000 after purchasing an additional 298,112 shares during the period. William Blair Investment Management LLC raised its position in NICE by 12.3% in the first quarter. William Blair Investment Management LLC now owns 1,364,561 shares of the technology company’s stock valued at $355,631,000 after purchasing an additional 149,149 shares during the period. Bessemer Group Inc. raised its position in NICE by 2.1% in the first quarter. Bessemer Group Inc. now owns 965,400 shares of the technology company’s stock valued at $251,602,000 after purchasing an additional 19,903 shares during the period. Finally, Boston Partners raised its position in NICE by 1.1% in the first quarter. Boston Partners now owns 891,244 shares of the technology company’s stock valued at $231,202,000 after purchasing an additional 10,088 shares during the period. Institutional investors and hedge funds own 63.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Citigroup raised their price objective on NICE from $339.00 to $346.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 14th. Wedbush reissued an “outperform” rating and issued a $250.00 price objective on shares of NICE in a research report on Friday, August 16th. Northland Securities cut their price objective on NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $300.00 target price on shares of NICE in a research report on Friday, August 16th. Sixteen analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $269.64.

NICE Stock Up 1.7 %

NASDAQ:NICE opened at $165.83 on Friday. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. NICE Ltd. has a one year low of $149.54 and a one year high of $270.73. The stock has a 50-day simple moving average of $172.24 and a 200 day simple moving average of $197.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45.

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

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.