Geode Capital Management LLC Sells 2,880 Shares of NICE Ltd. (NASDAQ:NICE)

Geode Capital Management LLC lowered its position in NICE Ltd. (NASDAQ:NICE) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,141 shares of the technology company’s stock after selling 2,880 shares during the quarter. Geode Capital Management LLC owned 0.11% of NICE worth $11,403,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. World Investment Advisors LLC bought a new position in NICE in the third quarter worth $24,547,000. Wilmington Savings Fund Society FSB bought a new position in shares of NICE during the 3rd quarter worth about $41,000. Destination Wealth Management bought a new position in shares of NICE during the 3rd quarter worth about $309,000. Synovus Financial Corp boosted its position in shares of NICE by 10.1% during the 3rd quarter. Synovus Financial Corp now owns 2,853 shares of the technology company’s stock valued at $495,000 after acquiring an additional 262 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in NICE by 11.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 1,900 shares of the technology company’s stock valued at $327,000 after acquiring an additional 192 shares during the period. Institutional investors own 63.34% of the company’s stock.

NICE Price Performance

NICE opened at $147.07 on Wednesday. The firm has a 50 day simple moving average of $152.07 and a 200 day simple moving average of $167.09. NICE Ltd. has a fifty-two week low of $137.19 and a fifty-two week high of $231.67. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.07 and a beta of 1.05.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, February 20th. The technology company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.96 by ($0.71). NICE had a net margin of 16.18% and a return on equity of 16.17%. The business had revenue of $721.60 million for the quarter, compared to the consensus estimate of $718.47 million. As a group, analysts expect that NICE Ltd. will post 9.85 EPS for the current year.

Analyst Ratings Changes

NICE has been the topic of a number of recent research reports. Rosenblatt Securities decreased their price objective on NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 21st. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 17th. Citigroup dropped their target price on shares of NICE from $279.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of NICE in a report on Wednesday, March 19th. Finally, Cantor Fitzgerald decreased their price objective on shares of NICE from $176.00 to $161.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.71.

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.