Summit Global Investments Boosts Position in NICE Ltd. (NASDAQ:NICE)

Summit Global Investments grew its holdings in shares of NICE Ltd. (NASDAQ:NICE) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,650 shares of the technology company’s stock after buying an additional 927 shares during the quarter. Summit Global Investments’ holdings in NICE were worth $4,319,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Artisan Partners Limited Partnership grew its stake in shares of NICE by 1.2% in the third quarter. Artisan Partners Limited Partnership now owns 1,436,177 shares of the technology company’s stock valued at $244,150,000 after buying an additional 16,513 shares in the last quarter. Black Creek Investment Management Inc. grew its stake in shares of NICE by 22.0% in the third quarter. Black Creek Investment Management Inc. now owns 1,144,309 shares of the technology company’s stock worth $194,533,000 after purchasing an additional 206,551 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in NICE by 0.6% in the third quarter. William Blair Investment Management LLC now owns 1,017,406 shares of the technology company’s stock worth $172,929,000 after purchasing an additional 5,803 shares during the period. RGM Capital LLC increased its stake in NICE by 14.3% during the 3rd quarter. RGM Capital LLC now owns 907,048 shares of the technology company’s stock valued at $154,198,000 after buying an additional 113,170 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of NICE by 169.6% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 528,838 shares of the technology company’s stock worth $89,902,000 after acquiring an additional 332,650 shares during the period. Institutional investors and hedge funds own 63.34% of the company’s stock.

NICE Stock Performance

Shares of NASDAQ:NICE traded down $1.02 on Thursday, hitting $219.92. 640,306 shares of the company were exchanged, compared to its average volume of 352,816. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.06. The company’s 50 day moving average price is $241.39 and its two-hundred day moving average price is $211.23. NICE Ltd. has a one year low of $149.54 and a one year high of $270.73. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 43.06, a PEG ratio of 2.01 and a beta of 1.04.

NICE (NASDAQ:NICE) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.10. The firm had revenue of $623.20 million during the quarter, compared to analysts’ expectations of $616.83 million. NICE had a net margin of 14.23% and a return on equity of 13.29%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. Research analysts expect that NICE Ltd. will post 8.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

NICE has been the subject of several research reports. Northland Securities started coverage on shares of NICE in a research report on Tuesday, January 30th. They set an “outperform” rating and a $300.00 price objective for the company. TheStreet upgraded NICE from a “c+” rating to a “b-” rating in a report on Tuesday, February 6th. Rosenblatt Securities started coverage on NICE in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $285.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and set a $343.00 target price on shares of NICE in a research note on Friday, February 23rd. Finally, Wedbush increased their price target on shares of NICE from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $291.00.

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.