Silvercrest Asset Management Group LLC Buys New Position in NICE Ltd. (NASDAQ:NICE)

Silvercrest Asset Management Group LLC acquired a new stake in shares of NICE Ltd. (NASDAQ:NICE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 95,555 shares of the technology company's stock, valued at approximately $16,229,000. Silvercrest Asset Management Group LLC owned about 0.15% of NICE at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in NICE in the fourth quarter valued at about $313,808,000. Boston Partners increased its holdings in shares of NICE by 10.0% during the fourth quarter. Boston Partners now owns 1,670,327 shares of the technology company's stock valued at $283,349,000 after acquiring an additional 151,528 shares in the last quarter. Menora Mivtachim Holdings LTD. raised its position in shares of NICE by 2.3% in 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 last quarter. HMI Capital Management L.P. boosted its stake in NICE by 12.8% in the 4th quarter. HMI Capital Management L.P. now owns 1,642,770 shares of the technology company's stock worth $279,008,000 after purchasing an additional 186,600 shares in the last quarter. Finally, Janus Henderson Group PLC grew 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 worth $110,406,000 after purchasing an additional 5,609 shares during the last quarter. Institutional investors and hedge funds own 63.34% of the company's stock.

NICE Stock Performance

Shares of NICE stock traded down $4.46 during trading hours on Wednesday, hitting $162.02. The company's stock had a trading volume of 369,310 shares, compared to its average volume of 567,283. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 1.07 and a beta of 1.03. NICE Ltd. has a twelve month low of $137.19 and a twelve month high of $200.65. The firm has a fifty day moving average of $155.02 and a 200-day moving average of $165.08.

NICE (NASDAQ:NICE - Get Free Report) last posted its earnings results on Thursday, May 15th. The technology company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $0.03. NICE had a net margin of 16.18% and a return on equity of 16.17%. The company had revenue of $700.19 million for the quarter, compared to analysts' expectations of $699.46 million. During the same quarter in the prior year, the company posted $2.58 earnings per share. NICE's revenue for the quarter was up 6.2% compared to the same quarter last year. On average, sell-side analysts expect that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NICE has been the topic of a number of research analyst reports. JMP Securities reissued a "market outperform" rating and set a $300.00 price objective on shares of NICE in a report on Friday, May 16th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $161.00 price objective on shares of NICE in a report on Friday, May 16th. Rosenblatt Securities upped their target price on NICE from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Citigroup decreased their price target on shares of NICE from $214.00 to $211.00 and set a "buy" rating on the stock in a research note on Monday. Finally, StockNews.com lowered shares of NICE from a "strong-buy" rating to a "buy" rating in a report on Monday, February 17th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.50.

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.