Baker Avenue Asset Management LP Buys Shares of 16,683 NICE Ltd. (NASDAQ:NICE)

Baker Avenue Asset Management LP purchased a new position in NICE Ltd. (NASDAQ:NICE - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,683 shares of the technology company's stock, valued at approximately $2,897,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. raised its position in NICE by 10.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,538 shares of the technology company's stock valued at $922,000 after purchasing an additional 344 shares during the period. Oppenheimer & Co. Inc. boosted its stake in NICE by 127.0% during the first quarter. Oppenheimer & Co. Inc. now owns 4,331 shares of the technology company's stock worth $1,129,000 after buying an additional 2,423 shares during the period. Choate Investment Advisors acquired a new stake in shares of NICE during the first quarter valued at about $224,000. Headlands Technologies LLC raised its stake in shares of NICE by 134.4% in the 1st quarter. Headlands Technologies LLC now owns 1,071 shares of the technology company's stock valued at $279,000 after acquiring an additional 614 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in shares of NICE during the 1st quarter worth approximately $813,000. Institutional investors and hedge funds own 63.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank of Canada restated an "outperform" rating and set a $260.00 price target on shares of NICE in a research note on Thursday, October 3rd. Wedbush restated an "outperform" rating and set a $250.00 target price on shares of NICE in a report on Friday, August 16th. Barclays cut their price target 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. JMP Securities reissued a "market outperform" rating and issued a $300.00 price objective on shares of NICE in a research note on Friday, August 16th. Finally, Northland Securities cut their target price 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. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $269.64.

NICE Stock Performance

NICE traded up $2.08 on Monday, hitting $192.07. 584,128 shares of the company traded hands, compared to its average volume of 505,684. NICE Ltd. has a 12-month low of $151.52 and a 12-month high of $270.73. The company has a 50 day moving average of $171.06 and a 200-day moving average of $178.77. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $12.08 billion, a PE ratio of 32.07, a PEG ratio of 1.54 and a beta of 1.04.

NICE (NASDAQ:NICE - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, beating analysts' consensus estimates of $2.58 by $0.06. The firm had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. NICE's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. Sell-side analysts anticipate that NICE Ltd. will post 8.5 earnings per share for the current 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.