Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in NICE Ltd. (NASDAQ:NICE)

Sumitomo Mitsui Trust Group Inc. trimmed its position in NICE Ltd. (NASDAQ:NICE) by 34.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,732 shares of the technology company’s stock after selling 1,418 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in NICE were worth $474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in NICE by 4.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,408 shares of the technology company’s stock worth $367,000 after buying an additional 65 shares during the last quarter. Aurora Investment Counsel lifted its position in NICE by 0.7% during the second quarter. Aurora Investment Counsel now owns 10,906 shares of the technology company’s stock valued at $1,876,000 after purchasing an additional 80 shares during the period. Financial Perspectives Inc boosted its holdings in NICE by 17.8% in the second quarter. Financial Perspectives Inc now owns 569 shares of the technology company’s stock valued at $98,000 after purchasing an additional 86 shares during the last quarter. Mendota Financial Group LLC grew its position in NICE by 11.4% during the 3rd quarter. Mendota Financial Group LLC now owns 841 shares of the technology company’s stock worth $146,000 after purchasing an additional 86 shares during the period. Finally, Legacy Advisors LLC grew its position in NICE by 1.3% during the 2nd quarter. Legacy Advisors LLC now owns 6,678 shares of the technology company’s stock worth $1,148,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 63.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup raised their target price on NICE from $330.00 to $334.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Piper Sandler reiterated a “neutral” rating on shares of NICE in a research note on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price target on shares of NICE in a research report on Friday, November 15th. Wedbush reiterated an “outperform” rating and issued a $250.00 price objective on shares of NICE in a research report on Friday, August 16th. Finally, Barclays lowered their target price on shares of NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $260.57.

NICE Stock Down 0.7 %

Shares of NICE opened at $172.67 on Wednesday. NICE Ltd. has a 52-week low of $151.52 and a 52-week high of $270.73. The stock has a market cap of $10.86 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The firm’s fifty day moving average is $173.41 and its two-hundred day moving average is $177.05.

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.