NICE (NASDAQ:NICE) Posts Earnings Results, Beats Expectations By $0.12 EPS

NICE (NASDAQ:NICE) announced its earnings results on Thursday. The technology company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.12, MarketWatch Earnings reports. The business had revenue of $601.30 million during the quarter, compared to the consensus estimate of $595.00 million. NICE had a net margin of 13.48% and a return on equity of 12.80%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 earnings per share. NICE updated its FY23 guidance to $8.58-8.78 EPS.

NICE Trading Up 9.0 %

NASDAQ:NICE opened at $195.15 on Friday. NICE has a 52-week low of $149.54 and a 52-week high of $231.54. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $168.13 and a 200-day simple moving average of $191.79. The company has a market capitalization of $12.42 billion, a PE ratio of 42.42, a price-to-earnings-growth ratio of 2.16 and a beta of 0.89.

Institutional Trading of NICE

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its position in NICE by 6.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,528 shares of the technology company’s stock worth $773,000 after purchasing an additional 225 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of NICE by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 12,314 shares of the technology company’s stock valued at $2,697,000 after buying an additional 167 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of NICE by 45.7% during the first quarter. American Century Companies Inc. now owns 2,299 shares of the technology company’s stock valued at $503,000 after buying an additional 721 shares during the period. PNC Financial Services Group Inc. boosted its position in NICE by 2.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,717 shares of the technology company’s stock worth $1,032,000 after acquiring an additional 128 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in NICE by 55.7% in the 1st quarter. Bank of Montreal Can now owns 5,294 shares of the technology company’s stock worth $1,192,000 after acquiring an additional 1,893 shares during the period. Hedge funds and other institutional investors own 63.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NICE shares. DA Davidson started coverage on NICE in a report on Thursday, September 28th. They issued a “neutral” rating and a $190.00 target price on the stock. Citigroup upped their price objective on shares of NICE from $278.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, August 15th. William Blair assumed coverage on shares of NICE in a report on Wednesday, July 26th. They issued an “outperform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $238.00 price target on shares of NICE in a report on Thursday, October 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $343.00 price objective on shares of NICE in a report on Monday, October 9th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $249.00.

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 CX that discovers automation opportunities for self-service; digital-entry points solutions that 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.