Massachusetts Financial Services Co. MA Sells 1,390,068 Shares of NICE Ltd. (NASDAQ:NICE)

Massachusetts Financial Services Co. MA decreased its position in NICE Ltd. (NASDAQ:NICE - Free Report) by 73.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 497,588 shares of the technology company's stock after selling 1,390,068 shares during the period. Massachusetts Financial Services Co. MA owned about 0.78% of NICE worth $99,274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in NICE during the fourth quarter valued at approximately $25,000. Lindbrook Capital LLC boosted its position in NICE by 88.9% during the fourth quarter. Lindbrook Capital LLC now owns 136 shares of the technology company's stock valued at $27,000 after purchasing an additional 64 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in NICE in the fourth quarter valued at about $29,000. Cary Street Partners Investment Advisory LLC acquired a new position in NICE in the 3rd quarter worth about $37,000. Finally, Principal Securities Inc. purchased a new stake in shares of NICE during the 4th quarter worth about $64,000. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NICE shares. Citigroup increased their price objective on NICE from $283.00 to $334.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Oppenheimer upped their price objective on shares of NICE from $225.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, February 23rd. Barclays raised their target price on NICE from $283.00 to $320.00 and gave the company an "overweight" rating in a report on Friday, February 23rd. TheStreet upgraded NICE from a "c+" rating to a "b-" rating in a report on Tuesday, February 6th. Finally, Royal Bank of Canada lifted their price target on shares of NICE from $238.00 to $285.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $296.09.

NICE Stock Performance

Shares of NICE stock traded down $29.50 during mid-day trading on Thursday, reaching $198.60. The stock had a trading volume of 2,726,940 shares, compared to its average volume of 390,525. The firm has a market cap of $12.49 billion, a PE ratio of 39.02, a P/E/G ratio of 2.03 and a beta of 1.04. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.14. NICE Ltd. has a one year low of $149.54 and a one year high of $270.73. The firm's 50 day simple moving average is $236.53 and its 200 day simple moving average is $215.68.

NICE (NASDAQ:NICE - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The technology company reported $2.36 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.10. NICE had a net margin of 14.23% and a return on equity of 13.29%. The firm had revenue of $623.20 million for the quarter, compared to the consensus estimate of $616.83 million. During the same quarter in the previous year, the company earned $1.40 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. On average, analysts forecast that NICE Ltd. will post 8.21 EPS for the current year.

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.