Broyhill Asset Management Takes $4.40 Million Position in NICE Ltd. (NASDAQ:NICE)

Broyhill Asset Management acquired a new position in NICE Ltd. (NASDAQ:NICE) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 25,905 shares of the technology company’s stock, valued at approximately $4,400,000. NICE makes up approximately 3.9% of Broyhill Asset Management’s portfolio, making the stock its 6th largest position.

Several other hedge funds have also recently made changes to their positions in NICE. Avion Wealth purchased a new position in NICE during the fourth quarter worth $25,000. Tradewinds Capital Management LLC bought a new position in NICE during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. raised its position in NICE by 43.8% in the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock worth $38,000 after purchasing an additional 67 shares during the period. Sandy Spring Bank lifted its stake in NICE by 181.3% in the fourth quarter. Sandy Spring Bank now owns 225 shares of the technology company’s stock worth $38,000 after purchasing an additional 145 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of NICE during the third quarter valued at approximately $41,000. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

NICE Price Performance

Shares of NICE stock opened at $152.61 on Monday. The stock has a 50 day simple moving average of $155.35 and a 200-day simple moving average of $168.01. NICE Ltd. has a 1-year low of $137.19 and a 1-year high of $236.48. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.07 and a beta of 1.05.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.71). The company had revenue of $721.60 million for 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%. Analysts anticipate that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities reduced their price target on NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of NICE in a research note on Wednesday, March 19th. StockNews.com lowered shares of NICE from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 17th. Cantor Fitzgerald reduced their target price on shares of NICE from $176.00 to $161.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Finally, Citigroup cut their price target on NICE from $279.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.64.

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.