HMI Capital Management L.P. Buys 186,600 Shares of NICE Ltd. (NASDAQ:NICE)

HMI Capital Management L.P. raised its holdings in shares of NICE Ltd. (NASDAQ:NICE - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,642,770 shares of the technology company's stock after purchasing an additional 186,600 shares during the period. NICE accounts for approximately 14.0% of HMI Capital Management L.P.'s investment portfolio, making the stock its biggest holding. HMI Capital Management L.P. owned about 2.61% of NICE worth $279,008,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NICE. Avion Wealth acquired a new position in shares of NICE during the fourth quarter worth $25,000. Tradewinds Capital Management LLC acquired a new position in shares of NICE in the 4th quarter valued at $25,000. Anchor Investment Management LLC increased its position in shares of 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 acquiring an additional 100 shares during the period. Richardson Financial Services Inc. increased its position in shares of NICE by 43.8% in the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company's stock valued at $38,000 after acquiring an additional 67 shares during the period. Finally, Sandy Spring Bank increased its position in shares of NICE by 181.3% in the 4th quarter. Sandy Spring Bank now owns 225 shares of the technology company's stock valued at $38,000 after acquiring an additional 145 shares during the period. 63.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NICE shares. Rosenblatt Securities lowered their target price on shares of NICE from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price target on shares of NICE in a research note on Wednesday, March 19th. Morgan Stanley lowered their price objective on NICE from $235.00 to $202.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Barclays lowered their price objective on NICE from $286.00 to $226.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Finally, StockNews.com cut NICE from a "strong-buy" rating to a "buy" rating in a report on Monday, February 17th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $224.29.

NICE Price Performance

Shares of NICE traded down $1.88 during mid-day trading on Wednesday, reaching $154.80. The company's stock had a trading volume of 40,205 shares, compared to its average volume of 582,910. NICE Ltd. has a 12-month low of $137.19 and a 12-month high of $229.33. The stock has a market cap of $9.73 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.07 and a beta of 1.05. The company's 50 day moving average is $150.31 and its 200 day moving average is $166.63.

NICE (NASDAQ:NICE - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.96 by ($0.71). The firm had revenue of $721.60 million for the quarter, compared to analysts' expectations of $718.47 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. As a group, sell-side analysts anticipate that NICE Ltd. will post 9.85 EPS 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.