Massachusetts Financial Services Co. MA Sells 18,063 Shares of Nice (NASDAQ:NICE)

Massachusetts Financial Services Co. MA trimmed its position in Nice (NASDAQ:NICE - Free Report) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,014,418 shares of the technology company's stock after selling 18,063 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.60% of Nice worth $156,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Nice during the 4th quarter valued at approximately $313,808,000. Boston Partners boosted its position in Nice by 10.0% during the 4th quarter. Boston Partners now owns 1,670,327 shares of the technology company's stock valued at $283,349,000 after purchasing an additional 151,528 shares during the period. Menora Mivtachim Holdings LTD. boosted its position in Nice by 2.3% during the 4th quarter. Menora Mivtachim Holdings LTD. now owns 1,660,037 shares of the technology company's stock valued at $281,941,000 after purchasing an additional 36,865 shares during the period. HMI Capital Management L.P. boosted its position in Nice by 12.8% during the 4th quarter. HMI Capital Management L.P. now owns 1,642,770 shares of the technology company's stock valued at $279,008,000 after purchasing an additional 186,600 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Nice by 0.9% during the 4th quarter. Janus Henderson Group PLC now owns 650,056 shares of the technology company's stock valued at $110,406,000 after purchasing an additional 5,609 shares during the period. 63.34% of the stock is currently owned by institutional investors.

Nice Stock Performance

NASDAQ:NICE traded down $0.86 during trading hours on Friday, hitting $153.41. 295,097 shares of the company's stock traded hands, compared to its average volume of 513,252. The firm has a market cap of $9.70 billion, a P/E ratio of 21.40, a P/E/G ratio of 1.38 and a beta of 1.00. Nice has a twelve month low of $137.19 and a twelve month high of $200.65. The stock's fifty day moving average price is $165.94 and its two-hundred day moving average price is $160.80.

Nice (NASDAQ:NICE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.03. The firm had revenue of $700.19 million for the quarter, compared to analyst estimates of $699.46 million. Nice had a return on equity of 16.37% and a net margin of 16.77%. Nice's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.58 earnings per share. On average, equities research analysts predict that Nice will post 9.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NICE. JMP Securities restated a "market outperform" rating and set a $300.00 price objective on shares of Nice in a research report on Wednesday, June 18th. Wedbush reiterated an "outperform" rating and set a $200.00 price target on shares of Nice in a research report on Friday, June 20th. Piper Sandler reiterated a "neutral" rating and set a $182.00 price target (up previously from $153.00) on shares of Nice in a research report on Friday, June 13th. Cantor Fitzgerald reiterated a "neutral" rating and set a $161.00 price target on shares of Nice in a research report on Wednesday, June 18th. Finally, Citigroup reduced their price target on Nice from $214.00 to $211.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $209.75.

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.