Suncoast Equity Management Purchases 750 Shares of NICE Ltd. (NASDAQ:NICE)

Suncoast Equity Management boosted its position in NICE Ltd. (NASDAQ:NICE) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,140 shares of the technology company’s stock after purchasing an additional 750 shares during the period. Suncoast Equity Management’s holdings in NICE were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of NICE. Migdal Insurance & Financial Holdings Ltd. increased its stake in NICE by 21.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company’s stock worth $273,642,000 after purchasing an additional 279,375 shares during the period. Perpetual Ltd bought a new position in shares of NICE in the fourth quarter worth about $31,792,000. World Investment Advisors LLC purchased a new position in NICE in the 3rd quarter worth about $24,547,000. Bruni J V & Co. Co. bought a new stake in NICE during the 3rd quarter valued at about $22,849,000. Finally, Swedbank AB lifted its holdings in NICE by 201.7% during the 3rd quarter. Swedbank AB now owns 140,900 shares of the technology company’s stock valued at $24,470,000 after buying an additional 94,200 shares in the last quarter. Hedge funds and other institutional investors own 63.34% of the company’s stock.

Analysts Set New Price Targets

NICE has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $200.00 target price (down from $215.00) on shares of NICE in a research report on Thursday, December 19th. StockNews.com downgraded NICE from a “strong-buy” rating to a “buy” rating in a report on Monday. Northland Securities lowered their target price on NICE from $275.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price target on shares of NICE in a research note on Friday, November 15th. Finally, Citigroup lowered their price objective on shares of NICE from $315.00 to $279.00 and set a “buy” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, NICE presently has an average rating of “Moderate Buy” and a consensus target price of $250.27.

NICE Stock Down 14.0 %

Shares of NICE stock opened at $153.59 on Friday. The company has a market cap of $9.66 billion, a P/E ratio of 23.78, a PEG ratio of 1.25 and a beta of 1.06. The firm’s 50 day moving average price is $170.71 and its 200-day moving average price is $173.01. NICE Ltd. has a 52-week low of $147.38 and a 52-week high of $270.73.

NICE (NASDAQ:NICE) last released its quarterly earnings results on Thursday, February 27th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.71). NICE had a return on equity of 15.31% and a net margin of 16.11%. As a group, equities research analysts forecast that NICE Ltd. will post 8.82 EPS 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.