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

Royce & Associates LP decreased its position in shares of NICE Ltd. (NASDAQ:NICE) by 24.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,612 shares of the technology company’s stock after selling 7,576 shares during the quarter. Royce & Associates LP’s holdings in NICE were worth $4,010,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in NICE. Atria Investments Inc purchased a new position in shares of NICE during the third quarter worth about $215,000. Natixis Advisors LLC purchased a new position in shares of NICE during the third quarter worth about $1,805,000. Pathstone Holdings LLC grew its holdings in shares of NICE by 33.6% during the third quarter. Pathstone Holdings LLC now owns 8,992 shares of the technology company’s stock worth $1,562,000 after purchasing an additional 2,260 shares during the last quarter. Aurora Investment Counsel grew its holdings in shares of NICE by 7.0% during the third quarter. Aurora Investment Counsel now owns 11,674 shares of the technology company’s stock worth $2,027,000 after purchasing an additional 768 shares during the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of NICE by 12.5% during the third quarter. Primecap Management Co. CA now owns 2,250 shares of the technology company’s stock worth $391,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 63.34% of the company’s stock.

NICE Trading Up 0.6 %

NICE stock opened at $151.98 on Thursday. The firm has a 50 day moving average of $160.17 and a 200-day moving average of $169.67. NICE Ltd. has a 12-month low of $137.19 and a 12-month high of $270.73. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.07 and a beta of 1.12.

NICE (NASDAQ:NICE) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). NICE had a net margin of 16.18% and a return on equity of 16.17%. The company had revenue of $721.60 million for the quarter, compared to analyst estimates of $718.47 million. Sell-side analysts forecast that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NICE has been the topic of several research reports. Barclays dropped their price objective on NICE from $286.00 to $226.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. StockNews.com downgraded shares of NICE from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 17th. Citigroup decreased their target price on shares of NICE from $279.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Cantor Fitzgerald decreased 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. Finally, Rosenblatt Securities decreased 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. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.64.

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.