Perpetual Ltd Makes New Investment in NICE Ltd. (NASDAQ:NICE)

Perpetual Ltd purchased a new stake in NICE Ltd. (NASDAQ:NICE) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 187,185 shares of the technology company’s stock, valued at approximately $31,792,000.

Several other large investors have also recently made changes to their positions in NICE. Vulcan Value Partners LLC increased its position 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 purchasing an additional 394,715 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in NICE by 21.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock valued at $273,642,000 after buying an additional 279,375 shares in the last quarter. Marshall Wace LLP purchased a new stake in NICE in the second quarter valued at about $44,076,000. World Investment Advisors LLC purchased a new stake in NICE in the third quarter valued at about $24,547,000. Finally, Bruni J V & Co. Co. acquired a new stake in NICE in the third quarter worth about $22,849,000. 63.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NICE. Northland Securities decreased their price objective on shares of NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Oppenheimer cut shares of NICE from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Cantor Fitzgerald started coverage on shares of NICE in a research note on Friday. They set a “neutral” rating and a $176.00 price objective for the company. DA Davidson cut their target price on NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $200.00 target price (down previously from $215.00) on shares of NICE in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.93.

NICE Price Performance

NASDAQ:NICE opened at $162.40 on Tuesday. The company has a 50 day moving average price of $176.92 and a 200-day moving average price of $174.27. NICE Ltd. has a 1-year low of $151.52 and a 1-year high of $270.73. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 1.14 and a beta of 1.06.

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.