NICE Ltd. (NASDAQ:NICE) Stake Lessened by Matthews International Capital Management LLC

Matthews International Capital Management LLC cut its stake in NICE Ltd. (NASDAQ:NICE – Get Rating) by 24.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,205 shares of the technology company’s stock after selling 695 shares during the period. Matthews International Capital Management LLC’s holdings in NICE were worth $415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NICE. Schechter Investment Advisors LLC bought a new stake in NICE during the third quarter worth approximately $202,000. AIA Group Ltd bought a new stake in NICE during the third quarter worth approximately $272,000. Ieq Capital LLC bought a new stake in NICE during the third quarter worth approximately $618,000. First Republic Investment Management Inc. boosted its holdings in NICE by 3.6% during the third quarter. First Republic Investment Management Inc. now owns 178,744 shares of the technology company’s stock worth $33,647,000 after buying an additional 6,236 shares in the last quarter. Finally, Creative Planning boosted its holdings in NICE by 22.2% during the third quarter. Creative Planning now owns 4,156 shares of the technology company’s stock worth $782,000 after buying an additional 756 shares in the last quarter. 63.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NICE shares. Morgan Stanley upped their price target on shares of NICE from $215.00 to $225.00 and gave the company an “equal weight” rating in a research report on Friday, November 11th. Citigroup upped their price target on shares of NICE from $254.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, November 11th. Piper Sandler upgraded shares of NICE from a “neutral” rating to an “overweight” rating and set a $227.00 price target for the company in a research report on Tuesday, January 17th. TheStreet upgraded shares of NICE from a “c+” rating to a “b-” rating in a research report on Wednesday, January 18th. Finally, StockNews.com assumed coverage on shares of NICE in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $251.25.

NICE Stock Up 0.6 %

NICE stock opened at $211.09 on Wednesday. NICE Ltd. has a 12-month low of $164.65 and a 12-month high of $274.01. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.16. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 57.21, a PEG ratio of 2.53 and a beta of 0.82. The company has a 50 day moving average of $196.80 and a two-hundred day moving average of $200.34.

NICE (NASDAQ:NICE – Get Rating) last announced its quarterly earnings results on Thursday, November 10th. The technology company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. NICE had a net margin of 11.56% and a return on equity of 11.89%. The company had revenue of $554.72 million for the quarter, compared to analyst estimates of $548.49 million. On average, equities analysts anticipate that NICE Ltd. will post 5.42 earnings per share for the current fiscal year.

NICE Profile

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NICE Ltd., together with its subsidiaries, provides cloud platforms for AI-driven digital business solutions worldwide. It offers CXone, a cloud native open platform that supports contact centers ranging from small single sites to distributed remote agents and enterprises; Enlighten, an AI engine for CX that discovers automation opportunities for self-service; digital-entry points solutions that 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 connecting them using real time AI-based routing.