New South Capital Management Inc. Takes $54.98 Million Position in NICE Ltd. (NASDAQ:NICE)

New South Capital Management Inc. bought a new stake in NICE Ltd. (NASDAQ:NICE) during the fourth quarter, Holdings Channel reports. The institutional investor bought 323,718 shares of the technology company’s stock, valued at approximately $54,980,000. NICE accounts for approximately 2.3% of New South Capital Management Inc.’s investment portfolio, making the stock its 14th largest holding.

A number of other large investors also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of NICE by 21.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock valued at $273,642,000 after purchasing an additional 279,375 shares in the last quarter. CCLA Investment Management lifted its holdings in 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 period. American Capital Management Inc. lifted its holdings in 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 period. Parnassus Investments LLC lifted its holdings in 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 period. Institutional investors own 63.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on NICE shares. DA Davidson dropped their price target on NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Barclays dropped their price target on NICE from $286.00 to $226.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Royal Bank of Canada dropped their price target on NICE from $260.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Oppenheimer lowered NICE from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Finally, Northland Securities lowered their target price on NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, NICE currently has a consensus rating of “Moderate Buy” and an average price target of $231.64.

NICE Stock Performance

Shares of NASDAQ NICE opened at $148.26 on Thursday. The stock has a market cap 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 Ltd. has a fifty-two week low of $137.19 and a fifty-two week high of $270.73. The stock has a fifty day moving average of $165.40 and a 200-day moving average of $172.04.

NICE (NASDAQ:NICE) last announced its quarterly earnings results 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 analysts’ expectations of $718.47 million. NICE had a net margin of 16.18% and a return on equity of 16.17%. On average, sell-side analysts predict that NICE Ltd. will post 9.85 EPS 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.