Nice (NASDAQ:NICE) Holdings Trimmed by New South Capital Management Inc.

New South Capital Management Inc. reduced its position in Nice (NASDAQ:NICE - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,414 shares of the technology company's stock after selling 12,304 shares during the period. Nice comprises 2.3% of New South Capital Management Inc.'s investment portfolio, making the stock its 16th biggest position. New South Capital Management Inc. owned approximately 0.50% of Nice worth $48,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in shares of Nice during the fourth quarter valued at $25,000. Anchor Investment Management LLC lifted its holdings in Nice by 200.0% in the 4th quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. McIlrath & Eck LLC boosted its stake in shares of Nice by 56.9% during the 4th quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock worth $27,000 after purchasing an additional 58 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Nice during the 1st quarter worth about $34,000. Finally, Sandy Spring Bank grew its holdings in shares of Nice by 181.3% during the fourth quarter. Sandy Spring Bank now owns 225 shares of the technology company's stock worth $38,000 after buying an additional 145 shares in the last quarter. 63.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NICE has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Nice in a research note on Wednesday, June 18th. JMP Securities reiterated a "market outperform" rating and issued a $300.00 target price on shares of Nice in a research note on Wednesday, June 18th. Morgan Stanley decreased their price target on Nice from $235.00 to $202.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Rosenblatt Securities restated a "buy" rating and issued a $190.00 price target on shares of Nice in a report on Wednesday, June 18th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $161.00 price objective on shares of Nice in a research note on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $209.75.

Nice Stock Performance

Shares of NASDAQ:NICE traded up $0.70 on Wednesday, hitting $168.40. The company's stock had a trading volume of 371,675 shares, compared to its average volume of 516,158. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.54 and a beta of 1.00. Nice has a 12 month low of $137.19 and a 12 month high of $200.65. The stock's 50-day moving average is $164.60 and its two-hundred day moving average is $161.95.

Nice (NASDAQ:NICE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.03. Nice had a net margin of 16.77% and a return on equity of 16.37%. The business had revenue of $700.19 million during the quarter, compared to the consensus estimate of $699.46 million. During the same quarter in the prior year, the company posted $2.58 earnings per share. The company's quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Nice will post 9.85 earnings per share for the current fiscal year.

About Nice

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.