Capital Research Global Investors Decreases Stock Holdings in NICE Ltd. (NASDAQ:NICE)

Capital Research Global Investors lessened its holdings in NICE Ltd. (NASDAQ:NICE) by 40.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,700,453 shares of the technology company’s stock after selling 1,139,200 shares during the quarter. Capital Research Global Investors owned approximately 2.70% of NICE worth $288,808,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avion Wealth purchased a new position in shares of NICE in the 4th quarter valued at about $25,000. Tradewinds Capital Management LLC purchased a new position in NICE in the fourth quarter valued at approximately $25,000. Anchor Investment Management LLC raised its holdings in NICE by 200.0% during the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. 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 worth $38,000 after buying an additional 67 shares during the last quarter. Finally, 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 worth $38,000 after buying an additional 145 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on NICE. StockNews.com lowered shares of NICE from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 17th. Cantor Fitzgerald reduced their target price on NICE from $176.00 to $161.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of NICE in a research report on Wednesday, March 19th. Rosenblatt Securities cut their price target on NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Citigroup decreased their price objective on NICE from $279.00 to $228.00 and set a “buy” rating for the company in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, NICE currently has an average rating of “Moderate Buy” and a consensus target price of $225.71.

NICE Stock Performance

NICE stock opened at $149.75 on Friday. The company has a market cap of $9.41 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 1.07 and a beta of 1.05. NICE Ltd. has a one year low of $137.19 and a one year high of $231.67. The business has a fifty day moving average of $153.25 and a two-hundred day moving average of $167.41.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.96 by ($0.71). The company had revenue of $721.60 million for the quarter, compared to analyst estimates of $718.47 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. Sell-side analysts predict that NICE Ltd. will post 9.85 EPS for the current 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.