Envestnet Asset Management Inc. Buys 4,414 Shares of NICE Ltd. (NASDAQ:NICE)

Envestnet Asset Management Inc. grew its stake in shares of NICE Ltd. (NASDAQ:NICE) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,467 shares of the technology company’s stock after purchasing an additional 4,414 shares during the quarter. Envestnet Asset Management Inc. owned about 0.20% of NICE worth $21,649,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of NICE in the fourth quarter valued at $313,808,000. New South Capital Management Inc. acquired a new position in shares of NICE during the 4th quarter worth approximately $54,980,000. Perpetual Ltd bought a new position in shares of NICE during the fourth quarter worth approximately $31,792,000. Raymond James Financial Inc. bought a new stake in shares of NICE in the fourth quarter valued at approximately $26,810,000. Finally, Boston Partners increased its stake in NICE by 10.0% during the 4th quarter. Boston Partners now owns 1,670,327 shares of the technology company’s stock worth $283,349,000 after acquiring an additional 151,528 shares during the period. Institutional investors own 63.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a report on Monday, February 17th. Cantor Fitzgerald cut their price target on shares of NICE from $176.00 to $161.00 and set a “neutral” rating for the company in a report on Friday, February 21st. DA Davidson 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 note on Monday. Barclays reduced their target price on NICE from $286.00 to $226.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Rosenblatt Securities lowered their price target on NICE from $225.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, NICE presently has a consensus rating of “Moderate Buy” and an average price target of $228.43.

NICE Stock Performance

Shares of NASDAQ NICE opened at $152.62 on Tuesday. The stock has a market cap of $9.60 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 1.07 and a beta of 1.05. The firm has a 50 day moving average price of $154.94 and a two-hundred day moving average price of $167.88. NICE Ltd. has a 52-week low of $137.19 and a 52-week high of $236.48.

NICE (NASDAQ:NICE) last announced its earnings results 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). NICE had a return on equity of 16.17% and a net margin of 16.18%. The company had revenue of $721.60 million for the quarter, compared to the consensus estimate of $718.47 million. Analysts predict that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

NICE 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.