Veracity Capital LLC Makes New $417,000 Investment in NICE Ltd. (NASDAQ:NICE)

Veracity Capital LLC purchased a new stake in NICE Ltd. (NASDAQ:NICE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,402 shares of the technology company’s stock, valued at approximately $417,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its stake in shares of NICE by 4.1% during the 1st 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. B. Riley Wealth Advisors Inc. lifted 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 acquiring an additional 65 shares in the last quarter. Aurora Investment Counsel boosted its stake in shares of NICE by 0.7% during the second quarter. Aurora Investment Counsel now owns 10,906 shares of the technology company’s stock valued at $1,876,000 after acquiring an additional 80 shares during the last quarter. Financial Perspectives Inc increased its position in NICE by 17.8% during the 2nd quarter. Financial Perspectives Inc now owns 569 shares of the technology company’s stock worth $98,000 after purchasing an additional 86 shares in the last quarter. Finally, Mendota Financial Group LLC raised its stake in NICE by 11.4% in the 3rd quarter. Mendota Financial Group LLC now owns 841 shares of the technology company’s stock valued at $146,000 after purchasing an additional 86 shares during the last quarter. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

NICE Stock Performance

NICE stock opened at $179.71 on Friday. NICE Ltd. has a 12-month low of $149.54 and a 12-month high of $270.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. The company has a market capitalization of $11.30 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. The firm’s fifty day moving average price is $169.82 and its 200 day moving average price is $185.59.

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

Wall Street Analysts Forecast Growth

NICE has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $300.00 price target on shares of NICE in a research note on Friday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 target price on shares of NICE in a research note on Thursday, October 3rd. Piper Sandler reduced their price target on NICE from $238.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of NICE in a research report on Tuesday, August 13th. Finally, Wedbush reiterated an “outperform” rating and set a $250.00 target price on shares of NICE in a research report on Friday, August 16th. Sixteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NICE currently has a consensus 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.