Knightsbridge Asset Management LLC Invests $5.05 Million in NICE Ltd. (NASDAQ:NICE)

Knightsbridge Asset Management LLC bought a new stake in shares of NICE Ltd. (NASDAQ:NICE) during the 4th quarter, HoldingsChannel.com reports. The fund bought 29,715 shares of the technology company’s stock, valued at approximately $5,047,000.

Several other institutional investors have also bought and sold shares of the stock. World Investment Advisors LLC bought a new position in NICE in the 3rd quarter valued at $24,547,000. Wilmington Savings Fund Society FSB bought a new position in shares of NICE during the 3rd quarter worth $41,000. Destination Wealth Management bought a new stake in NICE in the 3rd quarter valued at about $309,000. Synovus Financial Corp lifted its holdings in NICE by 10.1% during the third quarter. Synovus Financial Corp now owns 2,853 shares of the technology company’s stock valued at $495,000 after purchasing an additional 262 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in NICE by 11.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,900 shares of the technology company’s stock worth $327,000 after purchasing an additional 192 shares during the period. Institutional investors own 63.34% of the company’s stock.

NICE Trading Up 2.1 %

Shares of NASDAQ NICE opened at $154.52 on Friday. The firm has a fifty day simple moving average of $151.13 and a two-hundred day simple moving average of $166.87. The firm has a market capitalization of $9.71 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.07 and a beta of 1.05. NICE Ltd. has a 12 month low of $137.19 and a 12 month high of $229.39.

NICE (NASDAQ:NICE) last released its earnings results on Thursday, February 20th. The technology company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). The firm had revenue of $721.60 million during the quarter, compared to analysts’ expectations of $718.47 million. NICE had a net margin of 16.18% and a return on equity of 16.17%. On average, sell-side analysts predict that NICE Ltd. will post 9.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of NICE from $235.00 to $202.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Barclays cut their price objective on shares of NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. StockNews.com downgraded NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Rosenblatt Securities decreased their price objective on shares of NICE from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, DA Davidson cut their price target on shares of NICE from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, NICE currently has an average rating of “Moderate Buy” and an average price target of $224.29.

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.