Royce & Associates LP Reduces Holdings in NICE Ltd. (NASDAQ:NICE)

Royce & Associates LP trimmed its holdings in shares of NICE Ltd. (NASDAQ:NICE) by 24.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,612 shares of the technology company’s stock after selling 7,576 shares during the period. Royce & Associates LP’s holdings in NICE were worth $4,010,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Avion Wealth purchased a new position in shares of NICE during the 4th quarter worth approximately $25,000. Tradewinds Capital Management LLC purchased a new position in shares of NICE during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. increased its stake 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 purchasing an additional 67 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of NICE during the 3rd quarter worth approximately $41,000. Finally, R Squared Ltd purchased a new position in shares of NICE during the 4th quarter worth approximately $51,000. 63.34% of the stock is owned by hedge funds and other institutional investors.

NICE Trading Up 0.6 %

NASDAQ:NICE opened at $151.98 on Thursday. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.07 and a beta of 1.12. The firm’s fifty day simple moving average is $160.17 and its 200 day simple moving average is $169.67. NICE Ltd. has a twelve month low of $137.19 and a twelve month high of $270.73.

NICE (NASDAQ:NICE) last posted 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 business had revenue of $721.60 million for the quarter, compared to analyst estimates of $718.47 million. NICE had a net margin of 16.18% and a return on equity of 16.17%. On average, analysts predict that NICE Ltd. will post 9.85 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on NICE shares. Cantor Fitzgerald lowered their target price on shares of NICE from $176.00 to $161.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Barclays lowered their target price on shares of NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Rosenblatt Securities lowered their target price on shares of NICE from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $200.00 target price (down from $215.00) on shares of NICE in a research note on Thursday, December 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of NICE in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $231.64.

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 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.