HMI Capital Management L.P. Sells 228,500 Shares of NiCE $NICE

HMI Capital Management L.P. trimmed its holdings in NiCE (NASDAQ:NICE) by 14.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,352,570 shares of the technology company’s stock after selling 228,500 shares during the period. NiCE accounts for about 13.0% of HMI Capital Management L.P.’s holdings, making the stock its 4th biggest holding. HMI Capital Management L.P. owned 2.14% of NiCE worth $228,463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of NiCE by 3.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,831,690 shares of the technology company’s stock valued at $309,389,000 after buying an additional 65,420 shares during the period. Perpetual Ltd grew its position in NiCE by 3.5% in the second quarter. Perpetual Ltd now owns 258,683 shares of the technology company’s stock worth $43,694,000 after acquiring an additional 8,783 shares during the period. Swedbank AB increased its stake in NiCE by 12.6% during the second quarter. Swedbank AB now owns 375,700 shares of the technology company’s stock worth $63,459,000 after acquiring an additional 42,000 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in NiCE by 218.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 908,014 shares of the technology company’s stock valued at $139,989,000 after purchasing an additional 623,014 shares during the period. Finally, Freedom Investment Management Inc. purchased a new stake in NiCE in the first quarter valued at $572,000. Institutional investors and hedge funds own 63.34% of the company’s stock.

NiCE Stock Performance

NASDAQ NICE opened at $109.24 on Monday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.49 and a beta of 1.01. The firm has a 50 day simple moving average of $121.89 and a 200-day simple moving average of $143.01. NiCE has a one year low of $99.00 and a one year high of $193.42.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NICE shares. Rosenblatt Securities lowered their price target on NiCE from $190.00 to $175.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Barclays lowered their target price on shares of NiCE from $200.00 to $165.00 and set an “overweight” rating for the company in a research note on Wednesday, November 19th. Wedbush downgraded shares of NiCE from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $170.00 to $120.00 in a research note on Monday, December 8th. JMP Securities set a $200.00 price objective on shares of NiCE in a report on Friday, November 14th. Finally, DA Davidson dropped their target price on shares of NiCE from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $164.38.

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 enables 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.