Summit Global Investments Lowers Holdings in NICE Ltd. (NASDAQ:NICE)

Summit Global Investments cut its holdings in shares of NICE Ltd. (NASDAQ:NICE - Free Report) by 33.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,110 shares of the technology company's stock after selling 4,666 shares during the period. Summit Global Investments' holdings in NICE were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in shares of NICE by 4.0% during the 1st quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company's stock worth $1,350,367,000 after acquiring an additional 201,035 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in NICE by 12.3% during the 1st quarter. William Blair Investment Management LLC now owns 1,364,561 shares of the technology company's stock valued at $355,631,000 after purchasing an additional 149,149 shares during the last quarter. Black Creek Investment Management Inc. lifted its holdings in shares of NICE by 22.6% during the second quarter. Black Creek Investment Management Inc. now owns 1,356,775 shares of the technology company's stock worth $233,325,000 after buying an additional 250,334 shares in the last quarter. Vulcan Value Partners LLC lifted its holdings in shares of NICE by 49.7% during the second quarter. Vulcan Value Partners LLC now owns 1,188,371 shares of the technology company's stock worth $204,168,000 after buying an additional 394,715 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of NICE by 12.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,056,537 shares of the technology company's stock worth $181,693,000 after buying an additional 117,749 shares in the last quarter. 63.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NICE. Royal Bank of Canada restated an "outperform" rating and issued a $260.00 price target on shares of NICE in a research report on Thursday, October 3rd. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price target on shares of NICE in a research note on Tuesday, August 13th. JMP Securities reissued a "market outperform" rating and issued a $300.00 price target on shares of NICE in a research note on Friday, August 16th. Wedbush restated an "outperform" rating and set a $250.00 price objective on shares of NICE in a report on Friday, August 16th. Finally, Barclays decreased their price target on NICE from $320.00 to $286.00 and set an "overweight" rating for the company in a report on Thursday, July 25th. Sixteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NICE has a consensus rating of "Buy" and an average target price of $269.64.

NICE Stock Up 2.5 %

Shares of NICE traded up $4.68 on Friday, reaching $189.99. The stock had a trading volume of 890,855 shares, compared to its average volume of 454,646. The firm has a market capitalization of $11.94 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.45 and a current ratio of 2.45. The company has a 50-day simple moving average of $170.69 and a 200-day simple moving average of $179.71. NICE Ltd. has a 12-month low of $151.52 and a 12-month high of $270.73.

NICE (NASDAQ:NICE - Get Free Report) last released its earnings results on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.06. The company had revenue of $664.40 million during the quarter, compared to analysts' expectations of $664.10 million. NICE had a return on equity of 14.68% and a net margin of 15.55%. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS. Sell-side analysts predict that NICE Ltd. will post 8.5 EPS for the current 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.