Nice (NICE) Sets New 52-Week High After Better-Than-Expected Earnings

Shares of Nice Ltd (NASDAQ:NICE) hit a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $144.81 and last traded at $143.57, with a volume of 17927 shares trading hands. The stock had previously closed at $133.19.

The technology company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.27. The business had revenue of $377.00 million during the quarter, compared to analysts’ expectations of $375.18 million. Nice had a net margin of 11.03% and a return on equity of 9.15%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS.

Several brokerages have weighed in on NICE. Barclays increased their price target on shares of Nice from $124.00 to $150.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. BidaskClub cut shares of Nice from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Wedbush reissued a “buy” rating and set a $160.00 price target on shares of Nice in a research report on Thursday. Morgan Stanley increased their price target on shares of Nice from $117.00 to $128.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, JMP Securities increased their price target on shares of Nice from $140.00 to $164.00 and gave the company a “market outperform” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $142.67.

A number of hedge funds and other institutional investors have recently modified their holdings of NICE. Artisan Partners Limited Partnership raised its holdings in Nice by 243.0% in the 1st quarter. Artisan Partners Limited Partnership now owns 413,481 shares of the technology company’s stock worth $50,656,000 after purchasing an additional 292,943 shares in the last quarter. FMR LLC raised its holdings in Nice by 63.8% in the 4th quarter. FMR LLC now owns 643,304 shares of the technology company’s stock worth $69,612,000 after purchasing an additional 250,650 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Nice by 45.2% in the 4th quarter. Principal Financial Group Inc. now owns 802,621 shares of the technology company’s stock worth $86,852,000 after purchasing an additional 249,722 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Nice by 6.6% in the 1st quarter. OppenheimerFunds Inc. now owns 2,691,376 shares of the technology company’s stock worth $329,720,000 after purchasing an additional 166,110 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Nice by 31.5% in the 1st quarter. Acadian Asset Management LLC now owns 648,860 shares of the technology company’s stock worth $79,493,000 after purchasing an additional 155,515 shares in the last quarter. Institutional investors and hedge funds own 45.03% of the company’s stock.

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $8.79 billion, a P/E ratio of 37.46, a price-to-earnings-growth ratio of 3.01 and a beta of 0.86.

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Nice Company Profile (NASDAQ:NICE)

NICE Ltd. provides enterprise software solutions worldwide. The company operates in two segments, Customer Engagement, and Financial Crime and Compliance. The Customer Engagement segment offers platform and solutions that empower businesses to deliver consistent and personalized experience across the customer journey, and optimize business performance and ensure compliance.

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