Davis Capital Management Acquires 399 Shares of NICE Ltd. (NASDAQ:NICE)

Davis Capital Management raised its holdings in NICE Ltd. (NASDAQ:NICE) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,536 shares of the technology company’s stock after buying an additional 399 shares during the period. Davis Capital Management’s holdings in NICE were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in NICE. Aurora Investment Counsel raised its holdings in shares of NICE by 1.6% in the first quarter. Aurora Investment Counsel now owns 10,826 shares of the technology company’s stock valued at $2,821,000 after purchasing an additional 173 shares during the last quarter. Boston Partners raised its holdings in shares of NICE by 1.1% in the first quarter. Boston Partners now owns 891,244 shares of the technology company’s stock valued at $231,202,000 after purchasing an additional 10,088 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of NICE in the first quarter valued at about $238,000. Swedbank AB purchased a new stake in shares of NICE in the first quarter valued at about $12,171,000. Finally, Virtu Financial LLC increased its holdings in NICE by 41.1% during the first quarter. Virtu Financial LLC now owns 6,295 shares of the technology company’s stock worth $1,640,000 after buying an additional 1,833 shares during the last quarter. 63.34% of the stock is owned by institutional investors.

NICE Price Performance

Shares of NICE stock traded down $4.97 during trading hours on Friday, reaching $171.76. The stock had a trading volume of 304,627 shares, compared to its average volume of 438,568. The stock’s fifty day simple moving average is $174.28 and its 200 day simple moving average is $209.99. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.13. NICE Ltd. has a 12 month low of $149.54 and a 12 month high of $270.73. The firm has a market capitalization of $10.80 billion, a PE ratio of 31.00, a PEG ratio of 1.44 and a beta of 1.04.

NICE (NASDAQ:NICE) last released its quarterly earnings data on Thursday, May 16th. The technology company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.13. NICE had a net margin of 14.92% and a return on equity of 14.05%. The company had revenue of $659.31 million during the quarter, compared to analyst estimates of $654.81 million. On average, equities research analysts predict that NICE Ltd. will post 8.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NICE. Citigroup raised their price objective on shares of NICE from $339.00 to $346.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Northland Securities restated an “outperform” rating and set a $305.00 price objective on shares of NICE in a report on Thursday, June 13th. Mizuho decreased their price objective on shares of NICE from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 17th. Rosenblatt Securities decreased their price objective on shares of NICE from $285.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Finally, StockNews.com downgraded shares of NICE from a “strong-buy” rating to a “buy” rating in a report on Friday, June 14th. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price 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.