Van ECK Associates Corp Increases Stock Position in NICE Ltd. (NASDAQ:NICE)

Van ECK Associates Corp increased its stake in shares of NICE Ltd. (NASDAQ:NICE - Free Report) by 20.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,429 shares of the technology company's stock after acquiring an additional 3,645 shares during the period. Van ECK Associates Corp's holdings in NICE were worth $3,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC raised its position in shares of NICE by 8.1% in the first quarter. Global Retirement Partners LLC now owns 590 shares of the technology company's stock worth $154,000 after acquiring an additional 44 shares during the period. Sequoia Financial Advisors LLC boosted its position in 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. Spire Wealth Management grew its holdings in NICE by 7.5% in the fourth quarter. Spire Wealth Management now owns 728 shares of the technology company's stock valued at $154,000 after purchasing an additional 51 shares during the period. Lindbrook Capital LLC grew its holdings in NICE by 46.3% in the first quarter. Lindbrook Capital LLC now owns 199 shares of the technology company's stock valued at $52,000 after purchasing an additional 63 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of NICE by 4.8% in the first 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 in the last quarter. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

NICE Trading Down 1.9 %

Shares of NICE traded down $3.07 during midday trading on Thursday, reaching $162.44. The company had a trading volume of 461,310 shares, compared to its average volume of 518,582. NICE Ltd. has a 1-year low of $149.54 and a 1-year high of $270.73. 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 firm has a 50 day simple moving average of $173.96 and a 200-day simple moving average of $202.91. The stock has a market cap of $10.21 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

NICE (NASDAQ:NICE - Get Free Report) last released its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.06. The firm had revenue of $664.40 million during the quarter, compared to analysts' expectations of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. NICE's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business earned $1.63 earnings per share. Research analysts forecast that NICE Ltd. will post 8.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on NICE from $230.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, August 16th. JMP Securities reiterated a "market outperform" rating and issued a $300.00 target price on shares of NICE in a research report on Friday, August 16th. Wedbush restated an "outperform" rating and set a $250.00 price target on shares of NICE in a research report on Friday, August 16th. Barclays lowered their price objective on NICE from $320.00 to $286.00 and set an "overweight" rating on the stock in a report on Thursday, July 25th. Finally, Mizuho reduced their target price on NICE from $300.00 to $280.00 and set a "buy" rating for the company in a report on Friday, May 17th. Sixteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target 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.