Platinum Investment Management Ltd. Has $68.84 Million Stock Position in NICE Ltd. (NASDAQ:NICE)

Platinum Investment Management Ltd. boosted its stake in NICE Ltd. (NASDAQ:NICE) by 40.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 405,309 shares of the technology company’s stock after buying an additional 117,631 shares during the period. NICE accounts for 4.0% of Platinum Investment Management Ltd.’s portfolio, making the stock its 8th biggest holding. Platinum Investment Management Ltd. owned about 0.64% of NICE worth $68,838,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of NICE. New South Capital Management Inc. acquired a new stake in NICE in the 4th quarter valued at about $54,980,000. Perpetual Ltd acquired a new stake in NICE in the 4th quarter valued at about $31,792,000. Raymond James Financial Inc. acquired a new stake in NICE in the 4th quarter valued at about $26,810,000. Boston Partners lifted its holdings in NICE by 10.0% in the 4th quarter. Boston Partners now owns 1,670,327 shares of the technology company’s stock valued at $283,349,000 after acquiring an additional 151,528 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in NICE in the 3rd quarter valued at about $24,547,000. 63.34% of the stock is owned by institutional investors and hedge funds.

NICE Stock Performance

NASDAQ:NICE opened at $151.02 on Wednesday. The stock’s 50 day moving average price is $160.44 and its 200 day moving average price is $169.79. NICE Ltd. has a 52 week low of $137.19 and a 52 week high of $270.73. The company has a market capitalization of $9.49 billion, a P/E ratio of 22.34, a P/E/G ratio of 1.07 and a beta of 1.12.

NICE (NASDAQ:NICE) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). NICE had a return on equity of 16.17% and a net margin of 16.18%. The firm had revenue of $721.60 million during the quarter, compared to analyst estimates of $718.47 million. As a group, sell-side analysts forecast that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NICE has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of NICE from $260.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Barclays reduced their price objective on shares of NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Rosenblatt Securities reduced their price objective on shares of NICE from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Citigroup reduced their price objective on shares of NICE from $279.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $200.00 price objective (down from $215.00) on shares of NICE in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, NICE currently has a consensus rating of “Moderate Buy” and an average price target of $231.64.

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.