Platinum Investment Management Ltd. Has $68.84 Million Position in NICE Ltd. (NASDAQ:NICE)

Platinum Investment Management Ltd. increased its holdings in shares of NICE Ltd. (NASDAQ:NICE - Free Report) by 40.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 405,309 shares of the technology company's stock after purchasing an additional 117,631 shares during the quarter. NICE makes up about 4.0% of Platinum Investment Management Ltd.'s investment portfolio, making the stock its 8th biggest holding. Platinum Investment Management Ltd. owned 0.64% of NICE worth $68,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners grew its stake in shares of NICE by 10.0% in the fourth quarter. Boston Partners now owns 1,670,327 shares of the technology company's stock valued at $283,349,000 after acquiring an additional 151,528 shares in the last quarter. CCLA Investment Management boosted its stake in shares of NICE by 14.1% in the 4th quarter. CCLA Investment Management now owns 704,494 shares of the technology company's stock valued at $119,517,000 after purchasing an additional 87,003 shares in the last quarter. American Capital Management Inc. raised its holdings in NICE by 1.4% during the 3rd quarter. American Capital Management Inc. now owns 540,311 shares of the technology company's stock worth $93,836,000 after purchasing an additional 7,303 shares during the last quarter. Parnassus Investments LLC raised its holdings in NICE by 1.5% during the 3rd quarter. Parnassus Investments LLC now owns 517,039 shares of the technology company's stock worth $89,794,000 after purchasing an additional 7,635 shares during the last quarter. Finally, New South Capital Management Inc. bought a new position in NICE during the 4th quarter worth approximately $54,980,000. 63.34% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several analysts have recently weighed in on NICE shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price objective on shares of NICE in a research note on Wednesday. StockNews.com downgraded shares of NICE from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 17th. Jefferies Financial Group reissued a "hold" rating and issued a $200.00 price target (down previously from $215.00) on shares of NICE in a research report on Thursday, December 19th. Rosenblatt Securities reduced their price target on shares of NICE from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Finally, Cantor Fitzgerald cut their price objective on shares of NICE from $176.00 to $161.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $231.64.

NICE Stock Performance

NICE traded up $3.14 during midday trading on Friday, hitting $157.14. The stock had a trading volume of 258,881 shares, compared to its average volume of 564,232. The company has a market cap of $9.88 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12. The business has a fifty day moving average of $159.93 and a 200 day moving average of $169.56. NICE Ltd. has a 1 year low of $137.19 and a 1 year high of $270.73.

NICE (NASDAQ:NICE - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.71). The firm had revenue of $721.60 million during the quarter, compared to analysts' expectations of $718.47 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. On average, equities research analysts anticipate that NICE Ltd. will post 9.85 earnings per share for the current year.

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.