ProShare Advisors LLC Buys 595 Shares of NICE Ltd. (NASDAQ:NICE)

ProShare Advisors LLC grew its stake in shares of NICE Ltd. (NASDAQ:NICE) by 49.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,796 shares of the technology company’s stock after acquiring an additional 595 shares during the period. ProShare Advisors LLC’s holdings in NICE were worth $309,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NICE. Mercer Global Advisors Inc. ADV increased its stake in shares of NICE by 45.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,853 shares of the technology company’s stock valued at $1,006,000 after buying an additional 1,824 shares during the period. Virtu Financial LLC lifted its holdings in NICE by 54.9% during the 2nd quarter. Virtu Financial LLC now owns 9,751 shares of the technology company’s stock worth $1,677,000 after buying an additional 3,456 shares during the period. Primecap Management Co. CA acquired a new position in NICE during the 2nd quarter worth about $344,000. Moors & Cabot Inc. grew its position in shares of NICE by 11.0% in the 2nd quarter. Moors & Cabot Inc. now owns 1,631 shares of the technology company’s stock valued at $280,000 after buying an additional 162 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in NICE during the 2nd quarter valued at approximately $18,529,000. 63.34% of the stock is currently owned by institutional investors and hedge funds.

NICE Stock Performance

Shares of NICE opened at $166.98 on Friday. The stock has a 50 day moving average of $170.18 and a 200 day moving average of $192.51. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. NICE Ltd. has a 12 month low of $149.54 and a 12 month high of $270.73. The company has a market capitalization of $10.50 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.35 and a beta of 1.04.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share (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 net margin of 15.55% and a return on equity of 14.68%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.63 earnings per share. As a group, sell-side analysts forecast that NICE Ltd. will post 8.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NICE. Piper Sandler cut their price target on shares of NICE from $238.00 to $213.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 14th. DA Davidson reaffirmed a “buy” rating and set a $300.00 price objective on shares of NICE in a research report on Wednesday, June 12th. Morgan Stanley reduced their price target on shares of NICE from $290.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Finally, Northland Securities decreased their target price on NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, August 16th. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, NICE has an average rating of “Buy” and a consensus target price of $269.64.

NICE 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.