Platinum Investment Management Ltd. Buys 117,631 Shares of NICE Ltd. (NASDAQ:NICE)

Platinum Investment Management Ltd. raised its stake in shares of NICE Ltd. (NASDAQ:NICE) by 40.9% during the 4th quarter, HoldingsChannel reports. The firm owned 405,309 shares of the technology company’s stock after purchasing an additional 117,631 shares during the quarter. NICE comprises 4.0% of Platinum Investment Management Ltd.’s holdings, making the stock its 8th biggest position. Platinum Investment Management Ltd.’s holdings in NICE were worth $68,838,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Perspectives Inc boosted its position in shares of NICE by 11.6% in the fourth quarter. Financial Perspectives Inc now owns 635 shares of the technology company’s stock valued at $108,000 after acquiring an additional 66 shares during the period. Richardson Financial Services Inc. boosted its position in shares of NICE by 43.8% in the fourth quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock valued at $38,000 after acquiring an additional 67 shares during the period. Dorsey & Whitney Trust CO LLC boosted its position in shares of NICE by 5.7% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,428 shares of the technology company’s stock valued at $243,000 after acquiring an additional 77 shares during the period. Berry Wealth Group LP boosted its position in shares of NICE by 5.2% in the fourth quarter. Berry Wealth Group LP now owns 1,616 shares of the technology company’s stock valued at $274,000 after acquiring an additional 80 shares during the period. Finally, Rothschild Investment LLC boosted its position in shares of NICE by 18.5% in the fourth quarter. Rothschild Investment LLC now owns 512 shares of the technology company’s stock valued at $87,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 63.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NICE shares. Rosenblatt Securities reduced their target price on NICE from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $200.00 target price (down from $215.00) on shares of NICE in a research report on Thursday, December 19th. Cantor Fitzgerald reduced their target price on NICE from $176.00 to $161.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Barclays reduced their target price on NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Citigroup reduced their target price on NICE from $279.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.64.

NICE Stock Performance

Shares of NASDAQ NICE opened at $151.02 on Wednesday. NICE Ltd. has a 52-week low of $137.19 and a 52-week high of $270.73. The stock has a market cap of $9.49 billion, a PE ratio of 22.34, a PEG ratio of 1.07 and a beta of 1.12. The business has a fifty day moving average of $160.44 and a two-hundred day moving average of $169.79.

NICE (NASDAQ:NICE) last announced its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). NICE had a net margin of 16.18% and a return on equity of 16.17%. The business had revenue of $721.60 million during the quarter, compared to analyst estimates of $718.47 million. Analysts predict that NICE Ltd. will post 9.85 earnings per share 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.