NICE Ltd. (NASDAQ:NICE) Shares Purchased by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. increased its holdings in NICE Ltd. (NASDAQ:NICE) by 22.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,356,775 shares of the technology company’s stock after buying an additional 250,334 shares during the quarter. NICE comprises approximately 8.7% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 6th largest holding. Black Creek Investment Management Inc.’s holdings in NICE were worth $233,325,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of NICE by 135.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock valued at $32,000 after buying an additional 107 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in NICE during the first quarter valued at approximately $39,000. Lindbrook Capital LLC lifted 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 acquiring an additional 63 shares during the period. GAMMA Investing LLC lifted its holdings in NICE by 72.1% in the first quarter. GAMMA Investing LLC now owns 210 shares of the technology company’s stock valued at $55,000 after acquiring an additional 88 shares during the period. Finally, UMB Bank n.a. boosted its position in NICE by 72.4% in the 1st quarter. UMB Bank n.a. now owns 219 shares of the technology company’s stock worth $57,000 after purchasing an additional 92 shares in the last quarter. 63.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NICE has been the subject of several analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $300.00 target price on shares of NICE in a research note on Friday, August 16th. Piper Sandler decreased their price objective on shares of NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada increased their target price on shares of NICE from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price target on shares of NICE in a research note on Tuesday, August 13th. Finally, StockNews.com cut NICE from a “strong-buy” rating to a “buy” rating in a report on Friday, June 14th. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $269.64.

NICE Stock Performance

Shares of NICE stock opened at $164.93 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45. The business’s 50 day moving average price is $172.85 and its 200 day moving average price is $198.95. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 1.31 and a beta of 1.04. NICE Ltd. has a one year low of $149.54 and a one year high of $270.73.

NICE (NASDAQ:NICE) last announced its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. The firm had revenue of $664.40 million during 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 quarter in the prior year, the firm posted $1.63 earnings per share. On average, research analysts predict that NICE Ltd. will post 8.5 EPS 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.