CCLA Investment Management Reduces Stock Position in NICE Ltd. (NASDAQ:NICE)

CCLA Investment Management decreased its stake in NICE Ltd. (NASDAQ:NICE) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 617,491 shares of the technology company’s stock after selling 4,827 shares during the quarter. CCLA Investment Management owned approximately 0.98% of NICE worth $106,190,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors boosted its stake in shares of NICE by 4.0% in the first quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock worth $1,350,367,000 after buying an additional 201,035 shares during the last quarter. Capital International Investors boosted its stake in shares of NICE by 16.2% in the fourth quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock worth $426,402,000 after buying an additional 298,112 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of NICE by 12.3% in the first quarter. William Blair Investment Management LLC now owns 1,364,561 shares of the technology company’s stock worth $355,631,000 after buying an additional 149,149 shares during the last quarter. Black Creek Investment Management Inc. boosted its stake in shares of NICE by 22.6% in the second quarter. Black Creek Investment Management Inc. now owns 1,356,775 shares of the technology company’s stock worth $233,325,000 after buying an additional 250,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of NICE by 12.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,056,537 shares of the technology company’s stock worth $181,693,000 after buying an additional 117,749 shares during the last quarter. Hedge funds and other institutional investors own 63.34% of the company’s stock.

NICE Price Performance

Shares of NICE stock opened at $162.75 on Wednesday. The business has a 50 day simple moving average of $172.61 and a two-hundred day simple moving average of $198.36. NICE Ltd. has a 12 month low of $149.54 and a 12 month high of $270.73. The stock has a market capitalization of $10.23 billion, a P/E ratio of 29.38, a PEG ratio of 1.31 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45.

NICE (NASDAQ:NICE) last posted its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The firm had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $664.10 million. During the same quarter last year, the firm earned $1.63 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts predict that NICE Ltd. will post 8.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JMP Securities restated a “market outperform” rating and issued a $300.00 target price on shares of NICE in a research note on Friday, August 16th. William Blair reaffirmed an “outperform” rating on shares of NICE in a report on Wednesday, June 12th. StockNews.com cut NICE from a “strong-buy” rating to a “buy” rating in a report on Friday, June 14th. Royal Bank of Canada upped their price target on NICE from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Finally, Morgan Stanley reduced their price target on NICE from $290.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Sixteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $269.64.

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.