Goldman Sachs Group Inc. Decreases Stock Position in NICE Ltd. (NASDAQ:NICE)

Goldman Sachs Group Inc. lowered its stake in NICE Ltd. (NASDAQ:NICE) by 73.1% during the 4th quarter, Holdings Channel reports. The firm owned 103,114 shares of the technology company’s stock after selling 280,591 shares during the quarter. Goldman Sachs Group Inc.’s holdings in NICE were worth $20,572,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Capital International Investors lifted its stake in NICE by 16.2% in the 4th quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock worth $426,402,000 after purchasing an additional 298,112 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in NICE by 171.2% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,434,450 shares of the technology company’s stock worth $286,564,000 after purchasing an additional 905,612 shares in the last quarter. Boston Partners purchased a new stake in NICE in the 4th quarter worth $176,206,000. CCLA Investment Management lifted its stake in NICE by 18.3% in the 4th quarter. CCLA Investment Management now owns 617,486 shares of the technology company’s stock worth $123,272,000 after purchasing an additional 95,596 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in NICE by 13.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 579,249 shares of the technology company’s stock worth $115,566,000 after purchasing an additional 68,229 shares in 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 $162.20 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.43 and a quick ratio of 2.43. The company has a market capitalization of $10.20 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.34 and a beta of 1.03. The company’s 50-day simple moving average is $197.98 and its two-hundred day simple moving average is $215.18. NICE Ltd. has a one year low of $149.54 and a one year high of $270.73.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, May 16th. The technology company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.13. The business had revenue of $659.31 million for the quarter, compared to the consensus estimate of $654.81 million. NICE had a net margin of 14.92% and a return on equity of 14.05%. As a group, equities analysts anticipate that NICE Ltd. will post 8.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on NICE. Royal Bank of Canada decreased their price target on shares of NICE from $265.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. William Blair restated an “outperform” rating on shares of NICE in a research report on Wednesday, June 12th. Morgan Stanley decreased their target price on shares of NICE from $290.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Wedbush restated an “outperform” rating and set a $250.00 target price on shares of NICE in a research report on Wednesday, June 12th. Finally, Rosenblatt Securities decreased their target price on shares of NICE from $285.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, June 12th. Fifteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $276.62.

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.