Capital World Investors Makes New Investment in NICE Ltd. (NASDAQ:NICE)

Capital World Investors bought a new stake in NICE Ltd. (NASDAQ:NICE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 37,217 shares of the technology company’s stock, valued at approximately $9,699,000. Capital World Investors owned 0.06% of NICE at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC acquired a new position in NICE in the 4th quarter valued at $25,000. Lindbrook Capital LLC increased its stake in shares of NICE by 88.9% during the fourth quarter. Lindbrook Capital LLC now owns 136 shares of the technology company’s stock worth $27,000 after acquiring an additional 64 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in NICE during the fourth quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in NICE in the first quarter valued at about $39,000. Finally, UMB Bank n.a. boosted its holdings in NICE by 72.4% in the 1st quarter. UMB Bank n.a. now owns 219 shares of the technology company’s stock valued at $57,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 63.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NICE shares. Royal Bank of Canada cut their target price on NICE from $265.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Mizuho reduced their target price on NICE from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 17th. Morgan Stanley decreased their target price on shares of NICE from $290.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Barclays cut their price target on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Wedbush reissued an “outperform” rating and set a $250.00 price objective on shares of NICE in a report on Wednesday, June 12th. 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 an average price target of $269.64.

NICE Trading Down 0.4 %

Shares of NICE stock opened at $180.99 on Friday. NICE Ltd. has a 1 year low of $149.54 and a 1 year high of $270.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.43 and a quick ratio of 2.43. The business has a 50 day moving average price of $176.03 and a 200 day moving average price of $211.05. The company has a market capitalization of $11.38 billion, a P/E ratio of 32.67, a P/E/G ratio of 1.47 and a beta of 1.04.

NICE (NASDAQ:NICE) last issued its quarterly earnings results on Thursday, May 16th. The technology company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.13. The business had revenue of $659.31 million during the quarter, compared to the consensus estimate of $654.81 million. NICE had a net margin of 14.92% and a return on equity of 14.05%. Sell-side analysts anticipate that NICE Ltd. will post 8.4 EPS for the current fiscal year.

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.