Highland Capital Management LLC Reduces Stake in NICE Ltd. (NASDAQ:NICE)

Highland Capital Management LLC reduced its stake in shares of NICE Ltd. (NASDAQ:NICE) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,350 shares of the technology company’s stock after selling 100 shares during the quarter. Highland Capital Management LLC’s holdings in NICE were worth $569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its holdings in NICE by 208.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of NICE during the third quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB bought a new position in shares of NICE during the third quarter valued at approximately $41,000. GAMMA Investing LLC raised its holdings in shares of NICE by 89.9% in the third quarter. GAMMA Investing LLC now owns 245 shares of the technology company’s stock worth $43,000 after buying an additional 116 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of NICE by 48.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 277 shares of the technology company’s stock worth $48,000 after acquiring an additional 91 shares during the last quarter. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

NICE Stock Performance

Shares of NICE stock opened at $166.14 on Friday. The company has a market capitalization of $10.45 billion, a PE ratio of 25.72, a P/E/G ratio of 1.16 and a beta of 1.06. The company has a 50-day simple moving average of $174.47 and a two-hundred day simple moving average of $173.77. NICE Ltd. has a one year low of $151.52 and a one year high of $270.73.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NICE. Cantor Fitzgerald assumed coverage on NICE in a research note on Friday, January 17th. They issued a “neutral” rating and a $176.00 target price on the stock. StockNews.com raised shares of NICE from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. Oppenheimer cut shares of NICE from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. 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. Finally, Citigroup boosted their price target on NICE from $330.00 to $334.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NICE has a consensus rating of “Moderate Buy” and an average target price of $253.93.

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.