NICE Ltd. (NASDAQ:NICE) Shares Sold by Summit Global Investments

Summit Global Investments lowered its position in NICE Ltd. (NASDAQ:NICE) by 34.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,936 shares of the technology company’s stock after selling 3,174 shares during the period. Summit Global Investments’ holdings in NICE were worth $1,008,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in NICE. Avion Wealth acquired a new stake in shares of NICE during the 4th quarter valued at approximately $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of NICE during the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its position in shares of NICE by 43.8% during the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock valued at $38,000 after acquiring an additional 67 shares during the period. Sandy Spring Bank lifted its position in shares of NICE by 181.3% during the 4th quarter. Sandy Spring Bank now owns 225 shares of the technology company’s stock valued at $38,000 after acquiring an additional 145 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of NICE during the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 63.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NICE shares. Citigroup reduced their price target on shares of NICE from $279.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Cantor Fitzgerald reduced their price target on shares of NICE from $176.00 to $161.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of NICE in a research report on Wednesday. Jefferies Financial Group restated a “hold” rating and set a $200.00 price objective (down from $215.00) on shares of NICE in a research report on Thursday, December 19th. Finally, Barclays cut their price objective on NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.64.

NICE Stock Performance

NICE stock opened at $156.78 on Friday. NICE Ltd. has a one year low of $137.19 and a one year high of $270.73. The company has a 50 day moving average price of $159.84 and a two-hundred day moving average price of $169.46. The stock has a market capitalization of $9.86 billion, a P/E ratio of 23.19, a PEG ratio of 1.07 and a beta of 1.12.

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

NICE Company 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.