Grove Bank & Trust Lowers Position in NICE Ltd. (NASDAQ:NICE)

Grove Bank & Trust trimmed its stake in shares of NICE Ltd. (NASDAQ:NICE) by 27.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 421 shares of the technology company’s stock after selling 157 shares during the period. Grove Bank & Trust’s holdings in NICE were worth $72,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd raised its stake in NICE by 171.2% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,434,450 shares of the technology company’s stock valued at $286,564,000 after purchasing an additional 905,612 shares in the last quarter. Boston Partners purchased a new stake in shares of NICE during the 4th quarter valued at about $176,206,000. Point72 Asset Management L.P. lifted its holdings in shares of NICE by 1,340.2% in the 4th quarter. Point72 Asset Management L.P. now owns 467,231 shares of the technology company’s stock valued at $93,217,000 after acquiring an additional 434,789 shares during the last quarter. Capital International Investors grew its position in NICE by 16.2% in the fourth quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock worth $426,402,000 after acquiring an additional 298,112 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in NICE by 4.0% during the first quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock worth $1,350,367,000 after acquiring an additional 201,035 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors.

NICE Stock Up 1.2 %

NICE stock traded up $2.13 on Friday, hitting $178.26. 216,257 shares of the company’s stock were exchanged, compared to its average volume of 518,913. The firm has a 50 day moving average price of $172.49 and a two-hundred day moving average price of $205.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.43 and a current ratio of 2.43. NICE Ltd. has a 12-month low of $149.54 and a 12-month high of $270.73. The stock has a market cap of $11.21 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 1.44 and a beta of 1.04.

NICE (NASDAQ:NICE) last issued its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. NICE had a net margin of 14.92% and a return on equity of 14.05%. The business had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. During the same quarter in the prior year, the business posted $1.63 EPS. NICE’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts expect that NICE Ltd. will post 8.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays reduced 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. Wedbush restated an “outperform” rating and set a $250.00 target price on shares of NICE in a research report on Friday, August 16th. Royal Bank of Canada increased their price target on NICE from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Bank of America dropped their price objective on NICE from $300.00 to $270.00 and set a “buy” rating for the company in a report on Friday, May 17th. Finally, StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 14th. Sixteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NICE presently has an average rating of “Buy” and a consensus target price of $269.64.

NICE 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.