Suncoast Equity Management Raises Stock Position in NICE Ltd. (NASDAQ:NICE)

Suncoast Equity Management increased its holdings in shares of NICE Ltd. (NASDAQ:NICE) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,390 shares of the technology company’s stock after purchasing an additional 135 shares during the period. Suncoast Equity Management’s holdings in NICE were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its stake in shares of NICE by 4.1% during the first quarter. Sequoia Financial Advisors LLC now owns 1,207 shares of the technology company’s stock worth $315,000 after purchasing an additional 47 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of NICE by 4.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,408 shares of the technology company’s stock valued at $367,000 after buying an additional 65 shares during the period. Aurora Investment Counsel lifted its position in NICE by 0.7% during the 2nd quarter. Aurora Investment Counsel now owns 10,906 shares of the technology company’s stock worth $1,876,000 after acquiring an additional 80 shares in the last quarter. Financial Perspectives Inc boosted its holdings in NICE by 17.8% in the 2nd quarter. Financial Perspectives Inc now owns 569 shares of the technology company’s stock worth $98,000 after acquiring an additional 86 shares during the period. Finally, Mendota Financial Group LLC grew its position in NICE by 11.4% in the third 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 in the last quarter. 63.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NICE shares. Wedbush reissued an “outperform” rating and set a $250.00 target price on shares of NICE in a research report on Friday, August 16th. Barclays cut their price objective on shares of NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of NICE in a research note on Thursday, October 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price target on shares of NICE in a research note on Tuesday, August 13th. Finally, Northland Securities reduced their price target on NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, August 16th. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $269.64.

NICE Stock Performance

NICE stock traded up $0.06 during mid-day trading on Monday, reaching $179.77. The company’s stock had a trading volume of 196,092 shares, compared to its average volume of 509,180. 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 twelve month low of $149.54 and a twelve month high of $270.73. The business has a 50 day moving average price of $169.82 and a 200-day moving average price of $185.59. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.34 and a beta of 1.05.

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

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.