Knightsbridge Asset Management LLC Takes $5.05 Million Position in NICE Ltd. (NASDAQ:NICE)

Knightsbridge Asset Management LLC acquired a new position in NICE Ltd. (NASDAQ:NICE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,715 shares of the technology company's stock, valued at approximately $5,047,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hsbc Holdings PLC acquired a new stake in shares of NICE in the fourth quarter worth $2,109,000. J. Safra Sarasin Holding AG lifted its position in NICE by 24.0% in the fourth quarter. J. Safra Sarasin Holding AG now owns 108,076 shares of the technology company's stock worth $18,356,000 after purchasing an additional 20,922 shares during the period. Tower Research Capital LLC TRC lifted its position in NICE by 4,192.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 601 shares of the technology company's stock worth $102,000 after purchasing an additional 587 shares during the period. First Trust Advisors LP lifted its position in NICE by 16.7% in the fourth quarter. First Trust Advisors LP now owns 52,493 shares of the technology company's stock worth $8,915,000 after purchasing an additional 7,513 shares during the period. Finally, Farringdon Capital Ltd. bought a new position in NICE in the fourth quarter worth $219,000. Institutional investors and hedge funds own 63.34% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on NICE shares. DA Davidson reduced their target price on NICE from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Citigroup decreased their price objective on shares of NICE from $279.00 to $228.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Rosenblatt Securities decreased their price target 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. Cantor Fitzgerald decreased their price target on shares of NICE from $176.00 to $161.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Finally, Morgan Stanley decreased their price target on shares of NICE from $235.00 to $202.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $224.29.

NICE Price Performance

NASDAQ:NICE traded down $1.88 during trading hours on Wednesday, reaching $154.80. 40,205 shares of the company were exchanged, compared to its average volume of 582,910. The company has a market capitalization of $9.73 billion, a P/E ratio of 22.90, a P/E/G ratio of 1.07 and a beta of 1.05. NICE Ltd. has a 1-year low of $137.19 and a 1-year high of $229.33. The business has a 50 day moving average of $150.31 and a 200 day moving average of $166.63.

NICE (NASDAQ:NICE - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.96 by ($0.71). The business had revenue of $721.60 million during the quarter, compared to analyst estimates of $718.47 million. NICE had a net margin of 16.18% and a return on equity of 16.17%. As a group, equities research analysts anticipate that NICE Ltd. 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.