Massachusetts Financial Services Co. MA Acquires 117,749 Shares of NICE Ltd. (NASDAQ:NICE)

Massachusetts Financial Services Co. MA grew its holdings in NICE Ltd. (NASDAQ:NICE) by 12.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,056,537 shares of the technology company’s stock after purchasing an additional 117,749 shares during the period. Massachusetts Financial Services Co. MA owned about 1.68% of NICE worth $181,693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. First Hawaiian Bank purchased a new position in NICE in the 2nd quarter worth about $516,000. Eagle Asset Management Inc. raised its stake in shares of NICE by 34.9% during the fourth quarter. Eagle Asset Management Inc. now owns 35,717 shares of the technology company’s stock valued at $7,126,000 after acquiring an additional 9,241 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of NICE by 237.9% in the second quarter. Diversified Trust Co now owns 6,478 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 4,561 shares during the period. Capital World Investors bought a new position in NICE in the first quarter worth approximately $9,699,000. Finally, Corient Private Wealth LLC raised its position in NICE by 93.3% during the 4th quarter. Corient Private Wealth LLC now owns 5,317 shares of the technology company’s stock valued at $1,061,000 after purchasing an additional 2,566 shares in the last quarter. 63.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on NICE. Barclays dropped their price target on NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. JMP Securities reissued a “market outperform” rating and set a $300.00 price objective on shares of NICE in a report on Friday, August 16th. DA Davidson reissued a “buy” rating and issued a $300.00 price objective on shares of NICE in a research note on Wednesday, June 12th. Royal Bank of Canada increased their target price on NICE from $230.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Finally, Citigroup boosted their price target on NICE from $339.00 to $346.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Sixteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $269.64.

NICE Price Performance

Shares of NICE opened at $162.75 on Wednesday. The firm has a market capitalization of $10.23 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. The company’s fifty day moving average price is $172.61 and its 200-day moving average price is $198.36. NICE Ltd. has a 1-year low of $149.54 and a 1-year high of $270.73.

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

NICE Company 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.