Acadian Asset Management LLC reduced its position in NICE Ltd. (NASDAQ:NICE – Free Report) by 17.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 425,373 shares of the technology company’s stock after selling 87,871 shares during the period. Acadian Asset Management LLC owned approximately 0.68% of NICE worth $110,821,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Raymond James Trust N.A. bought a new position in NICE during the 4th quarter valued at $232,000. Raymond James & Associates lifted its stake in NICE by 23.6% during the 4th quarter. Raymond James & Associates now owns 99,804 shares of the technology company’s stock valued at $19,912,000 after acquiring an additional 19,031 shares in the last quarter. Pacer Advisors Inc. lifted its stake in NICE by 11.1% during the 4th quarter. Pacer Advisors Inc. now owns 602 shares of the technology company’s stock valued at $120,000 after acquiring an additional 60 shares in the last quarter. Schechter Investment Advisors LLC bought a new position in NICE during the 4th quarter valued at $348,000. Finally, ARK Investment Management LLC increased its position in shares of NICE by 17.0% during the 4th quarter. ARK Investment Management LLC now owns 11,625 shares of the technology company’s stock valued at $2,319,000 after purchasing an additional 1,693 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors.
NICE Price Performance
Shares of NICE traded down $1.24 during trading hours on Friday, reaching $176.90. 274,834 shares of the company’s stock traded hands, compared to its average volume of 522,594. The stock has a market cap of $11.12 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 1.44 and a beta of 1.04. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.13. The firm’s 50 day simple moving average is $179.24 and its 200-day simple moving average is $211.79. NICE Ltd. has a 12 month low of $149.54 and a 12 month high of $270.73.
NICE (NASDAQ:NICE – Get Free Report) last issued its quarterly earnings results on Thursday, May 16th. The technology company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.13. The firm had revenue of $659.31 million during the quarter, compared to the consensus estimate of $654.81 million. NICE had a return on equity of 14.05% and a net margin of 14.92%. Equities analysts expect that NICE Ltd. will post 8.4 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the company. Rosenblatt Securities decreased their target price on NICE from $285.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. JMP Securities reaffirmed a “market outperform” rating and set a $300.00 target price on shares of NICE in a research report on Wednesday, June 12th. Jefferies Financial Group decreased their price objective on NICE from $280.00 to $230.00 and set a “buy” rating for the company in a report on Friday, May 17th. Wedbush reissued an “outperform” rating and issued a $250.00 price objective on shares of NICE in a report on Wednesday, June 12th. Finally, Royal Bank of Canada decreased their price objective on NICE from $265.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Sixteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $272.07.
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.