Marietta Investment Partners LLC Sells 152 Shares of NICE Ltd. (NASDAQ:NICE)

Marietta Investment Partners LLC reduced its position in NICE Ltd. (NASDAQ:NICE) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,222 shares of the technology company’s stock after selling 152 shares during the quarter. Marietta Investment Partners LLC’s holdings in NICE were worth $898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors raised its holdings in shares of NICE by 4.0% in the first quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock valued at $1,350,367,000 after acquiring an additional 201,035 shares in the last quarter. Capital International Investors raised its holdings in shares of NICE by 16.2% in the fourth quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock valued at $426,402,000 after acquiring an additional 298,112 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of NICE by 12.3% in the first quarter. William Blair Investment Management LLC now owns 1,364,561 shares of the technology company’s stock valued at $355,631,000 after acquiring an additional 149,149 shares in the last quarter. Black Creek Investment Management Inc. raised its holdings in NICE by 22.6% in the second quarter. Black Creek Investment Management Inc. now owns 1,356,775 shares of the technology company’s stock worth $233,325,000 after purchasing an additional 250,334 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in NICE by 12.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,056,537 shares of the technology company’s stock worth $181,693,000 after purchasing an additional 117,749 shares in the last quarter. 63.34% of the stock is currently owned by institutional investors.

NICE Price Performance

Shares of NASDAQ NICE opened at $164.89 on Monday. The business’s 50 day moving average price is $171.96 and its 200 day moving average price is $196.15. The firm has a market cap of $10.37 billion, a P/E ratio of 29.76, a P/E/G ratio of 1.31 and a beta of 1.04. NICE Ltd. has a 52 week low of $149.54 and a 52 week high of $270.73. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The firm had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. During the same quarter in the prior year, the firm earned $1.63 earnings per share. NICE’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts expect that NICE Ltd. will post 8.5 earnings per share for the current year.

Wall Street Analyst Weigh In

NICE has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $250.00 target price on shares of NICE in a report on Friday, August 16th. DA Davidson reiterated a “buy” rating and issued a $300.00 target price on shares of NICE in a report on Wednesday, June 12th. StockNews.com downgraded shares of NICE from a “strong-buy” rating to a “buy” rating in a report on Friday, June 14th. Barclays reduced their target price on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Northland Securities cut their price objective on shares of NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. Sixteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $269.64.

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.