Swedbank AB Acquires 94,200 Shares of NICE Ltd. (NASDAQ:NICE)

Swedbank AB boosted its holdings in NICE Ltd. (NASDAQ:NICE) by 201.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,900 shares of the technology company’s stock after purchasing an additional 94,200 shares during the period. Swedbank AB owned about 0.22% of NICE worth $24,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Creative Planning grew its position in NICE by 2.9% in the third quarter. Creative Planning now owns 7,608 shares of the technology company’s stock valued at $1,321,000 after purchasing an additional 217 shares in the last quarter. Grove Bank & Trust grew its position in NICE by 29.2% in the third quarter. Grove Bank & Trust now owns 544 shares of the technology company’s stock valued at $94,000 after purchasing an additional 123 shares in the last quarter. ORG Wealth Partners LLC bought a new position in NICE in the third quarter valued at $38,000. Inspire Investing LLC grew its position in NICE by 17.6% in the third quarter. Inspire Investing LLC now owns 4,921 shares of the technology company’s stock valued at $855,000 after purchasing an additional 736 shares in the last quarter. Finally, Mendota Financial Group LLC grew its position in shares of NICE by 11.4% in the 3rd quarter. Mendota Financial Group LLC now owns 841 shares of the technology company’s stock valued at $146,000 after acquiring an additional 86 shares during the period. Institutional investors own 63.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NICE. Northland Securities decreased their price objective on shares of NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price objective on shares of NICE in a research report on Thursday, October 3rd. Barclays decreased their price objective on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Wedbush reissued an “outperform” rating and issued a $250.00 price objective on shares of NICE in a research report on Friday, August 16th. Finally, JMP Securities reissued a “market outperform” rating and issued a $300.00 price objective on shares of NICE in a research report on Friday, August 16th. Sixteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $269.64.

NICE Price Performance

Shares of NASDAQ:NICE opened at $177.88 on Thursday. The firm has a 50 day moving average of $169.22 and a 200-day moving average of $186.62. The stock has a market capitalization of $11.18 billion, a PE ratio of 32.11, a PEG ratio of 1.34 and a beta of 1.05. 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.

NICE (NASDAQ:NICE) last released 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 analysts’ expectations 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 period in the prior year, the company earned $1.63 EPS. On average, equities research analysts predict that NICE Ltd. will post 8.5 EPS for the current fiscal year.

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.