DSM Capital Partners LLC Lowers Stock Position in NICE Ltd. (NASDAQ:NICE)

DSM Capital Partners LLC decreased its holdings in shares of NICE Ltd. (NASDAQ:NICE) by 25.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 39,014 shares of the technology company’s stock after selling 13,218 shares during the period. NICE makes up approximately 0.1% of DSM Capital Partners LLC’s investment portfolio, making the stock its 28th largest holding. DSM Capital Partners LLC’s holdings in NICE were worth $6,709,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NICE. Capital Research Global Investors grew its position in NICE by 4.0% during 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 period. Capital International Investors grew its holdings in shares of 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 acquiring an additional 298,112 shares during the period. William Blair Investment Management LLC increased its stake in NICE by 12.3% in the 1st quarter. William Blair Investment Management LLC now owns 1,364,561 shares of the technology company’s stock valued at $355,631,000 after purchasing an additional 149,149 shares in the last quarter. Black Creek Investment Management Inc. raised its holdings in NICE by 22.6% during 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 purchasing an additional 250,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in NICE by 12.5% during 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 purchasing an additional 117,749 shares in the last quarter. 63.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. William Blair restated an “outperform” rating on shares of NICE in a research report on Wednesday, June 12th. Wedbush reaffirmed an “outperform” rating and issued a $250.00 price target on shares of NICE in a report on Friday, August 16th. Morgan Stanley dropped their price objective on shares of NICE from $290.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Citigroup upped their target price on NICE from $339.00 to $346.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of NICE in a research report on Tuesday, August 13th. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, NICE presently has an average rating of “Buy” and a consensus target price of $269.64.

NICE Trading Down 0.3 %

NASDAQ NICE opened at $170.32 on Thursday. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 1.35 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 Ltd. has a 12 month low of $149.54 and a 12 month high of $270.73. The company’s fifty day moving average price is $171.31 and its two-hundred day moving average price is $194.99.

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

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.