Neuberger Berman Group LLC Acquires 185,716 Shares of Nice (NASDAQ:NICE)

Neuberger Berman Group LLC lifted its holdings in shares of Nice (NASDAQ:NICE) by 40.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 639,685 shares of the technology company’s stock after acquiring an additional 185,716 shares during the period. Neuberger Berman Group LLC owned approximately 1.01% of Nice worth $98,620,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. McIlrath & Eck LLC grew its position in Nice by 56.9% in the 4th quarter. McIlrath & Eck LLC now owns 160 shares of the technology company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in Nice by 3.3% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 2,627 shares of the technology company’s stock worth $405,000 after purchasing an additional 83 shares in the last quarter. Aurora Investment Counsel grew its position in Nice by 0.8% in the 1st quarter. Aurora Investment Counsel now owns 12,056 shares of the technology company’s stock worth $1,859,000 after purchasing an additional 96 shares in the last quarter. Anchor Investment Management LLC grew its position in Nice by 200.0% in the 4th quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Finally, Baird Financial Group Inc. grew its position in Nice by 1.7% in the 4th quarter. Baird Financial Group Inc. now owns 6,059 shares of the technology company’s stock worth $1,029,000 after purchasing an additional 100 shares in the last quarter. 63.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NICE. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 price objective on shares of Nice in a research report on Tuesday, July 29th. DA Davidson raised shares of Nice to a “hold” rating in a research report on Tuesday, July 29th. Morgan Stanley reduced their target price on shares of Nice from $235.00 to $202.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Wedbush reissued an “outperform” rating and set a $200.00 target price on shares of Nice in a research report on Friday, June 20th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Nice in a research report on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Nice has a consensus rating of “Moderate Buy” and a consensus price target of $209.75.

Nice Trading Up 4.0%

Shares of NICE stock opened at $147.99 on Thursday. The stock has a market capitalization of $9.36 billion, a P/E ratio of 20.64, a PEG ratio of 1.29 and a beta of 0.98. The firm’s 50 day moving average is $162.22 and its 200 day moving average is $159.42. Nice has a 12 month low of $137.19 and a 12 month high of $200.65.

Nice (NASDAQ:NICE) last announced its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.03. The company had revenue of $700.19 million for the quarter, compared to analysts’ expectations of $699.46 million. Nice had a net margin of 16.77% and a return on equity of 16.37%. Nice’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 EPS. On average, equities analysts predict that Nice will post 9.85 EPS for the current 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.