Primecap Management Co. CA Purchases Shares of 2,000 NICE Ltd. (NASDAQ:NICE)

Primecap Management Co. CA acquired a new position in shares of NICE Ltd. (NASDAQ:NICE) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,000 shares of the technology company’s stock, valued at approximately $344,000.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors increased its position in NICE by 4.0% in the first quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock worth $1,350,367,000 after purchasing an additional 201,035 shares during the last quarter. Capital International Investors raised its position in shares of NICE by 16.2% during the 4th quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock valued at $426,402,000 after buying an additional 298,112 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of NICE by 12.3% in the 1st 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 during the last quarter. Black Creek Investment Management Inc. lifted its holdings in shares of NICE by 22.6% in the 2nd quarter. Black Creek Investment Management Inc. now owns 1,356,775 shares of the technology company’s stock valued at $233,325,000 after acquiring an additional 250,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position 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 acquiring an additional 117,749 shares in the last quarter. 63.34% of the stock is owned by hedge funds and other institutional investors.

NICE Stock Up 0.1 %

Shares of NASDAQ:NICE opened at $162.98 on Thursday. The business’s 50 day moving average is $172.41 and its 200 day moving average is $197.76. The stock has a market cap of $10.25 billion, a P/E ratio of 29.39, a price-to-earnings-growth 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 announced its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $1.63 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts predict that NICE Ltd. will post 8.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NICE. William Blair reiterated an “outperform” rating on shares of NICE in a report on Wednesday, June 12th. Royal Bank of Canada lifted their price objective on shares of NICE from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. JMP Securities reissued a “market outperform” rating and issued a $300.00 target price on shares of NICE in a research note on Friday, August 16th. Northland Securities dropped their price target on shares of NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, August 16th. Finally, Barclays reduced their price objective on shares of NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Sixteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $269.64.

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.