Raymond James Financial Inc. Buys Shares of 157,856 NICE Ltd. (NASDAQ:NICE)

Raymond James Financial Inc. purchased a new position in shares of NICE Ltd. (NASDAQ:NICE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 157,856 shares of the technology company's stock, valued at approximately $26,810,000. Raymond James Financial Inc. owned approximately 0.25% of NICE as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of NICE. Charles Schwab Investment Management Inc. lifted its holdings in shares of NICE by 34.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,023 shares of the technology company's stock worth $699,000 after acquiring an additional 1,034 shares during the last quarter. MML Investors Services LLC lifted its stake in NICE by 238.7% in the 3rd quarter. MML Investors Services LLC now owns 7,503 shares of the technology company's stock valued at $1,303,000 after purchasing an additional 5,288 shares during the last quarter. World Investment Advisors LLC acquired a new stake in NICE in the third quarter valued at approximately $24,547,000. Wilmington Savings Fund Society FSB bought a new stake in shares of NICE during the third quarter worth $41,000. Finally, Destination Wealth Management acquired a new position in shares of NICE during the third quarter worth $309,000. 63.34% of the stock is currently owned by institutional investors.

NICE Stock Performance

Shares of NICE stock opened at $149.75 on Friday. The company has a market cap of $9.41 billion, a P/E ratio of 22.15, a PEG ratio of 1.07 and a beta of 1.05. NICE Ltd. has a fifty-two week low of $137.19 and a fifty-two week high of $235.71. The stock has a 50 day simple moving average of $153.70 and a two-hundred day simple moving average of $167.51.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on NICE. DA Davidson cut their price objective on NICE from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Monday. Citigroup reduced their price target on NICE from $279.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Morgan Stanley dropped their price objective on shares of NICE from $235.00 to $202.00 and set an "overweight" rating for the company in a report on Wednesday. Jefferies Financial Group reissued a "hold" rating and set a $200.00 target price (down from $215.00) on shares of NICE in a report on Thursday, December 19th. Finally, StockNews.com downgraded shares of NICE from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 17th. Four 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 an average rating of "Moderate Buy" and a consensus price target of $225.71.

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 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.

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