Nice Ltd Stock Price, News & Analysis

NICE Actimize has announced ENGAGE 2024, the premier financial crime and compliance risk management event, to be held on June 4-5 at New York's Jacob Javits Center. The event will focus on AI and its role in shaping future strategies, featuring over 30 sessions and dedicated tracks on anti-money laundering, fraud prevention, trade surveillance, and more. Keynote speakers include Sallie Krawcheck, CEO of Ellevest, and David Rowan, founding Editor-in-Chief of WIRED UK. More than 200 companies and 500 executives from global and regional financial institutions are expected to attend, providing a platform for discussing trends, innovations, and best practices in financial crime fighting.

NICE announced that Italy's Carabinieri, one of the world's largest police forces, will deploy NICE Inform across 514 emergency communication centers. This system, part of NICE's Evidencentral platform, will modernize and enhance the reliability of voice recording and incident reconstruction for over seven million annual emergency calls. NICE Inform enables efficient data capture, rapid incident reconstruction, and automated quality assurance, providing a streamlined system for emergency responses, investigations, and training. The system offers centralized management and instant access to incident data, improving the Carabinieri’s operational efficiency.

NICE Actimize, a business under NICE (NASDAQ: NICE), has been named the winner in the 'Suitability' product category by the 2024 WealthBriefing European Awards. This marks the third consecutive year NICE Actimize has received this award. The recognition highlights the firm's AI-powered SURVEIL-X Suitability solution, which leverages behavioral analytics to address evolving regulatory requirements and consumer protection needs. The solution offers easy onboarding, managed services, and robust security protections. According to Chris Wooten, EVP Vertical Markets at NICE, the solution helps automate oversight and supervision, reducing risk exposure and enhancing client-advisor relationships. Additional benefits include increased efficiency, transparency, and risk mitigation.

NICE (NASDAQ: NICE) reported a 27% year-over-year growth in cloud revenue for Q1 2024, reaching $468.4 million.

Total revenues increased by 15% to $659.3 million.

GAAP operating income rose by 30% to $121.4 million, while Non-GAAP operating income increased by 22% to $199.8 million.

Net income grew by 38% to $106.4 million (GAAP) and by 26% to $171.6 million (Non-GAAP).

Non-GAAP EPS exceeded guidance, increasing by 27% to $2.58. Operating cash flow hit a record high of $254.5 million, up 30% year-over-year.

The company anticipates 14% growth in Non-GAAP Q2 2024 revenues and 21% growth in Non-GAAP EPS.

Full-year 2024 guidance projects 15% revenue growth and a 21% rise in Non-GAAP EPS.

Barak Eilam, CEO of NICE, will step down by December 31, 2024, after over a decade at the helm. The company has initiated a search for his successor and will consider both internal and external candidates. Eilam will remain as a strategic consultant during the first half of 2025 to ensure a smooth transition. Under his leadership, NICE has significantly grown, tripling its total revenue and expanding its cloud revenue to $1.6 billion. The Board praised Eilam's contributions, highlighting the company's strong positioning in the cloud, digital, and AI markets.

NICE announced Interactions 2024, the industry’s largest CX event, to be held in June at the Fontainebleau Hotel in Las Vegas. The event will showcase innovations in CX AI, Digital, Cloud, and WEM, featuring over 50 product demos and a keynote address by Nicole Kidman. CX leaders will demonstrate the transformative power of AI in driving proactive, knowledge-rich CX experiences using NICE's solutions.

NICE has been recognized as the Conversational Intelligence market leader by Opus Research, scoring high in Business Impact and Technology/Product Breadth. The company's Enlighten platform was praised for its use of AI in customer experience, leading to improved metrics and cost reduction.

NICE (Nasdaq: NICE) will report its first quarter 2024 results on May 16, 2024, before NASDAQ's opening. A conference call will follow to discuss the findings.

NICE Actimize, a NICE business, has been recognized as a Category Leader in the 2024 CLM Solutions for Corporate and Investment Banking Market Update and Vendor Landscape Report by Chartis Research. The company scored highly in entity management, workflow, and automation, as well as system interfaces and APIs. NICE Actimize's dynamic CLM solution aims to reduce onboarding processes for financial institutions, leading to faster time to revenue and improved customer experiences.