Taylor Frigon Capital Management LLC Trims Stock Position in NICE Ltd. (NASDAQ:NICE)

Taylor Frigon Capital Management LLC decreased its holdings in NICE Ltd. (NASDAQ:NICE) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,036 shares of the technology company’s stock after selling 1,178 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in NICE were worth $2,429,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC raised its position in NICE by 90.8% in the first quarter. Janiczek Wealth Management LLC now owns 475 shares of the technology company’s stock worth $124,000 after acquiring an additional 226 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in NICE by 44.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 3,968 shares of the technology company’s stock worth $1,034,000 after purchasing an additional 1,212 shares during the period. LVW Advisors LLC purchased a new position in NICE during the first quarter valued at $265,000. Diversified Trust Co grew its holdings in NICE by 85.9% during the first quarter. Diversified Trust Co now owns 1,917 shares of the technology company’s stock valued at $500,000 after purchasing an additional 886 shares during the period. Finally, E&G Advisors LP purchased a new stake in NICE in the first quarter worth about $276,000. 63.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Northland Securities lowered their price objective on NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th. Barclays dropped their price target on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Piper Sandler decreased their price objective on shares of NICE from $238.00 to $213.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of NICE in a report on Tuesday, August 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $300.00 price target on shares of NICE in a research note on Friday, August 16th. Sixteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $269.64.

NICE Price Performance

NICE traded up $1.57 during trading hours on Thursday, hitting $177.07. The company’s stock had a trading volume of 135,375 shares, compared to its average volume of 508,455. The stock has a market cap of $11.13 billion, a price-to-earnings ratio of 31.68, a P/E/G ratio of 1.34 and a beta of 1.05. The business’s 50-day moving average price is $170.81 and its 200-day moving average price is $184.09. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. NICE Ltd. has a 12 month low of $149.54 and a 12 month high of $270.73.

NICE (NASDAQ:NICE) last posted its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.06. NICE had a net margin of 15.55% and a return on equity of 14.68%. The firm had revenue of $664.40 million for the quarter, compared to the consensus estimate of $664.10 million. During the same period in the previous year, the firm posted $1.63 EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis. Sell-side analysts expect that NICE Ltd. will post 8.5 earnings per share for the current fiscal year.

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.