Suncoast Equity Management Acquires 750 Shares of NICE Ltd. (NASDAQ:NICE)

Suncoast Equity Management raised its holdings in shares of NICE Ltd. (NASDAQ:NICE) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,140 shares of the technology company’s stock after acquiring an additional 750 shares during the quarter. Suncoast Equity Management’s holdings in NICE were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NICE. Avion Wealth purchased a new position in NICE during the fourth quarter valued at $25,000. Creative Financial Designs Inc. ADV raised its stake in shares of NICE by 208.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock worth $26,000 after buying an additional 100 shares during the period. Richardson Financial Services Inc. lifted its position in shares of NICE by 43.8% during the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock valued at $38,000 after buying an additional 67 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of NICE during the 3rd quarter valued at approximately $41,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of NICE by 48.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 277 shares of the technology company’s stock valued at $48,000 after acquiring an additional 91 shares during the period. Institutional investors own 63.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NICE. Piper Sandler reaffirmed a “neutral” rating on shares of NICE in a report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of NICE in a research note on Friday, November 15th. Northland Securities dropped their target price on shares of NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. DA Davidson decreased their price target on NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Oppenheimer lowered NICE from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.27.

NICE Trading Down 14.0 %

Shares of NASDAQ NICE opened at $153.59 on Friday. NICE Ltd. has a 12-month low of $147.38 and a 12-month high of $270.73. The firm’s 50-day moving average price is $170.71 and its 200-day moving average price is $173.01. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.25 and a beta of 1.06.

NICE (NASDAQ:NICE) last issued its quarterly earnings data on Thursday, February 27th. The technology company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.96 by ($0.71). NICE had a return on equity of 15.31% and a net margin of 16.11%. On average, equities analysts predict that NICE Ltd. will post 8.82 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.