Suncoast Equity Management Increases Holdings in NICE Ltd. (NASDAQ:NICE)

Suncoast Equity Management lifted its position in NICE Ltd. (NASDAQ:NICE) by 36.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,215 shares of the technology company’s stock after purchasing an additional 860 shares during the quarter. Suncoast Equity Management’s holdings in NICE were worth $641,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in NICE during the fourth quarter worth about $29,000. Sunbelt Securities Inc. acquired a new stake in NICE during the first quarter worth about $32,000. Cary Street Partners Investment Advisory LLC acquired a new stake in NICE during the third quarter worth about $37,000. ST Germain D J Co. Inc. acquired a new stake in NICE in the second quarter valued at approximately $43,000. Finally, Loomis Sayles & Co. L P grew its holdings in NICE by 25.2% in the first quarter. Loomis Sayles & Co. L P now owns 298 shares of the technology company’s stock valued at $65,000 after purchasing an additional 60 shares during the period. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

NICE Trading Down 0.2 %

NICE stock traded down $0.57 during trading on Tuesday, reaching $231.00. 82,023 shares of the company were exchanged, compared to its average volume of 359,142. NICE Ltd. has a 52-week low of $149.54 and a 52-week high of $270.73. The company has a market capitalization of $14.70 billion, a P/E ratio of 45.50, a PEG ratio of 2.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.06 and a quick ratio of 2.06. The stock’s 50 day simple moving average is $240.21 and its two-hundred day simple moving average is $206.44.

NICE (NASDAQ:NICE) last announced its quarterly earnings data on Thursday, February 22nd. The technology company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.10. NICE had a return on equity of 13.29% and a net margin of 14.23%. The firm had revenue of $623.20 million for the quarter, compared to the consensus estimate of $616.83 million. During the same quarter last year, the business posted $1.40 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that NICE Ltd. will post 8.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. Wedbush raised their price objective on NICE from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Barclays raised their price objective on NICE from $283.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Citigroup raised their price objective on NICE from $283.00 to $334.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. DA Davidson raised NICE from a “neutral” rating to a “buy” rating and raised their price objective for the company from $250.00 to $300.00 in a report on Wednesday, March 13th. Finally, Oppenheimer lifted their price target on NICE from $225.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $291.55.

NICE Company 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.