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

Swedbank AB boosted its holdings in shares of NICE Ltd. (NASDAQ:NICE) by 201.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,900 shares of the technology company’s stock after acquiring an additional 94,200 shares during the quarter. Swedbank AB’s holdings in NICE were worth $24,470,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NICE. GAMMA Investing LLC grew its holdings in NICE by 72.1% during the 1st quarter. GAMMA Investing LLC now owns 210 shares of the technology company’s stock worth $55,000 after acquiring an additional 88 shares during the last quarter. Fulton Bank N.A. bought a new stake in NICE during the 1st quarter worth approximately $236,000. Park Avenue Securities LLC grew its holdings in NICE by 263.8% during the 1st quarter. Park Avenue Securities LLC now owns 5,224 shares of the technology company’s stock worth $1,361,000 after acquiring an additional 3,788 shares during the last quarter. Buckingham Capital Management Inc. bought a new stake in shares of NICE in the 1st quarter valued at $1,446,000. Finally, BTC Capital Management Inc. bought a new stake in shares of NICE in the 1st quarter valued at $789,000. 63.34% of the stock is owned by institutional investors.

NICE Stock Performance

NICE opened at $177.88 on Thursday. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average price is $169.22 and its two-hundred day moving average price is $186.62. NICE Ltd. has a 1-year low of $149.54 and a 1-year high of $270.73. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 1.34 and a beta of 1.05.

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

Wall Street Analyst Weigh In

NICE has been the topic of a number of analyst reports. Northland Securities reduced their price objective on shares of NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of NICE in a research note on Tuesday, August 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 price objective on shares of NICE in a research note on Friday, August 16th. Barclays reduced their price objective on shares of NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Finally, Piper Sandler reduced their price objective on shares of NICE from $238.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Sixteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus 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.