ARK Investment Management LLC Sells 952 Shares of NICE Ltd. (NASDAQ:NICE)

ARK Investment Management LLC decreased its holdings in NICE Ltd. (NASDAQ:NICE) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,409 shares of the technology company’s stock after selling 952 shares during the quarter. ARK Investment Management LLC’s holdings in NICE were worth $1,618,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in NICE during the 4th quarter worth about $4,697,000. Federated Hermes Inc. increased its holdings in shares of NICE by 17.1% in the fourth quarter. Federated Hermes Inc. now owns 16,539 shares of the technology company’s stock valued at $3,300,000 after purchasing an additional 2,416 shares in the last quarter. Lindbrook Capital LLC boosted its position in NICE by 88.9% in the 4th quarter. Lindbrook Capital LLC now owns 136 shares of the technology company’s stock valued at $27,000 after buying an additional 64 shares during the last quarter. Signaturefd LLC increased its stake in shares of NICE by 11.6% in the 4th quarter. Signaturefd LLC now owns 1,257 shares of the technology company’s stock valued at $251,000 after buying an additional 131 shares during the period. Finally, CWM LLC raised its position in shares of NICE by 20.6% during the fourth quarter. CWM LLC now owns 586 shares of the technology company’s stock worth $117,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 63.34% of the company’s stock.

NICE Stock Up 1.0 %

NICE traded up $1.74 during trading hours on Tuesday, hitting $182.33. 534,064 shares of the company’s stock were exchanged, compared to its average volume of 518,379. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.13. NICE Ltd. has a 1-year low of $149.54 and a 1-year high of $270.73. The stock’s 50-day moving average is $172.76 and its two-hundred day moving average is $205.22. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 1.44 and a beta of 1.04.

NICE (NASDAQ:NICE) last released its 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. The business had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. NICE had a return on equity of 14.05% and a net margin of 14.92%. NICE’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 earnings per share. Sell-side analysts predict that NICE Ltd. will post 8.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on NICE. JMP Securities reiterated a “market outperform” rating and issued a $300.00 price objective on shares of NICE in a research report on Friday, August 16th. Wedbush reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of NICE in a research note on Friday, August 16th. Morgan Stanley lowered their target price on shares of NICE from $290.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Mizuho cut their price target on NICE from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. Finally, William Blair reaffirmed an “outperform” rating on shares of NICE in a research note on Wednesday, June 12th. Sixteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $269.64.

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.