Should You Consider Investing in NICE Ltd?

ClearBridge Investments, an investment management firm, published its “Global Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the ClearBridge Global Growth Strategy outperformed its MSCI ACWI benchmark. The Strategy delivered gains across eight of the nine sectors in which it was invested (out of 11 total), with the information technology (IT) and industrials sectors the primary contributors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Global Growth Strategy, in its Q4 2021 investor letter, mentioned NICE Ltd.  (NASDAQ:NICE) and discussed its stance on the firm. Founded in 1986, NICE Ltd.  (NASDAQ:NICE) is a Ra’anana, Israel-based software solutions provider with a $14.1 billion market capitalization, and is currently spearheaded by its CEO, Barak Eilam. NICE Ltd.  (NASDAQ:NICE) delivered a -26.44% return since the beginning of the year, while its 12-month returns are down by -0.98%. The stock closed at $223.32 per share on April 01, 2022.

Here is what ClearBridge Investments Global Growth Strategy has to say about NICE Ltd.  (NASDAQ:NICE) in its Q4 2021 investor letter:

“We were quite active during the quarter, leveraging volatility to add 10 new names to the portfolio while exiting seven others. Among our new purchases was NICE in the IT sector. NICE, an Israeli-based enterprise software company and leader in the cloud-based contact center as a service market, is a very profitable, reasonably priced stock with underappreciated cloud assets. Its omnichannel customer contact center software is considered best-in-class and we expect sustained high growth rates in this business as customer service contact centers are still in the early innings of cloud migrations.”

Photo by Austin Distel on Unsplash

Our calculations show that NICE Ltd.  (NASDAQ:NICE) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. NICE Ltd.  (NASDAQ:NICE) was in 24 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 27 funds in the previous quarter. NICE Ltd.  (NASDAQ:NICE) delivered a -26.44% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on NICE Ltd.  (NASDAQ:NICE) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.