NICE Ltd. (NASDAQ:NICE) Stock Position Cut by Van ECK Associates Corp

Van ECK Associates Corp trimmed its stake in shares of NICE Ltd. (NASDAQ:NICE) by 3.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,989 shares of the technology company’s stock after selling 621 shares during the period. Van ECK Associates Corp’s holdings in NICE were worth $3,389,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in NICE. GAMMA Investing LLC acquired a new position in shares of NICE during the fourth quarter valued at approximately $25,000. Lindbrook Capital LLC raised its stake in shares of NICE by 88.9% in the 4th quarter. Lindbrook Capital LLC now owns 136 shares of the technology company’s stock worth $27,000 after buying an additional 64 shares in the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of NICE in the fourth quarter valued at $29,000. Cary Street Partners Investment Advisory LLC bought a new position in NICE during the third quarter valued at about $37,000. Finally, Private Trust Co. NA grew its holdings in NICE by 40.1% during the fourth quarter. Private Trust Co. NA now owns 377 shares of the technology company’s stock worth $75,000 after acquiring an additional 108 shares during the period. 63.34% of the stock is owned by institutional investors and hedge funds.

NICE Price Performance

Shares of NASDAQ:NICE opened at $222.10 on Tuesday. The business has a fifty day simple moving average of $240.11 and a 200 day simple moving average of $212.81. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. NICE Ltd. has a 1 year low of $149.54 and a 1 year high of $270.73. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of 43.63, a P/E/G ratio of 1.99 and a beta of 1.04.

NICE (NASDAQ:NICE) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.10. NICE had a return on equity of 13.29% and a net margin of 14.23%. The business had revenue of $623.20 million during the quarter, compared to analyst estimates of $616.83 million. During the same period in the previous year, the company earned $1.40 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that NICE Ltd. will post 8.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NICE shares. Rosenblatt Securities started coverage on shares of NICE in a research report on Tuesday, April 23rd. They set a “buy” rating and a $285.00 price objective for the company. Wedbush increased their price objective on NICE from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Royal Bank of Canada lifted their target price on NICE from $238.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Oppenheimer upped their target price on NICE from $225.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Northland Securities assumed coverage on NICE in a research note on Tuesday, January 30th. They issued an “outperform” rating and a $300.00 price target on the stock. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $291.00.

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.