New South Capital Management Inc. Buys Shares of 323,718 NICE Ltd. (NASDAQ:NICE)

New South Capital Management Inc. bought a new stake in NICE Ltd. (NASDAQ:NICE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 323,718 shares of the technology company’s stock, valued at approximately $54,980,000. NICE comprises approximately 2.3% of New South Capital Management Inc.’s investment portfolio, making the stock its 14th biggest position. New South Capital Management Inc. owned 0.51% of NICE as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of NICE by 21.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock worth $273,642,000 after acquiring an additional 279,375 shares during the last quarter. CCLA Investment Management raised its position in shares of NICE by 14.1% during the fourth quarter. CCLA Investment Management now owns 704,494 shares of the technology company’s stock worth $119,517,000 after acquiring an additional 87,003 shares during the last quarter. American Capital Management Inc. raised its position in shares of NICE by 1.4% during the third quarter. American Capital Management Inc. now owns 540,311 shares of the technology company’s stock worth $93,836,000 after acquiring an additional 7,303 shares during the last quarter. Parnassus Investments LLC raised its position in shares of NICE by 1.5% during the third quarter. Parnassus Investments LLC now owns 517,039 shares of the technology company’s stock worth $89,794,000 after acquiring an additional 7,635 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NICE by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 286,929 shares of the technology company’s stock worth $49,831,000 after acquiring an additional 4,411 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors.

NICE Stock Performance

Shares of NICE stock opened at $148.26 on Thursday. NICE Ltd. has a 52 week low of $137.19 and a 52 week high of $270.73. The stock has a 50 day moving average price of $165.40 and a two-hundred day moving average price of $172.04. The stock has a market capitalization of $9.32 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06.

NICE (NASDAQ:NICE) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). NICE had a net margin of 16.18% and a return on equity of 16.17%. The firm had revenue of $721.60 million during the quarter, compared to analyst estimates of $718.47 million. Research analysts forecast that NICE Ltd. will post 9.85 EPS for the current year.

Wall Street Analysts Forecast Growth

NICE has been the subject of a number of analyst reports. Piper Sandler restated a “neutral” rating on shares of NICE in a research report on Thursday, November 14th. StockNews.com downgraded NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $200.00 target price (down previously from $215.00) on shares of NICE in a research note on Thursday, December 19th. Citigroup decreased their target price on NICE from $279.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Northland Securities decreased their target price on NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.64.

NICE Company 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.