Cetera Investment Advisers Sells 121,578 Shares of Nice (NASDAQ:NICE)

Cetera Investment Advisers trimmed its position in Nice (NASDAQ:NICE) by 89.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,255 shares of the technology company’s stock after selling 121,578 shares during the period. Cetera Investment Advisers’ holdings in Nice were worth $2,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its holdings in shares of Nice by 86.9% in the 4th quarter. LPL Financial LLC now owns 27,136 shares of the technology company’s stock worth $4,609,000 after buying an additional 12,616 shares during the last quarter. Trexquant Investment LP purchased a new stake in Nice during the fourth quarter worth about $1,249,000. Envestnet Asset Management Inc. raised its position in Nice by 3.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 127,467 shares of the technology company’s stock worth $21,649,000 after acquiring an additional 4,414 shares during the period. Federated Hermes Inc. boosted its stake in Nice by 15.8% in the fourth quarter. Federated Hermes Inc. now owns 26,828 shares of the technology company’s stock valued at $4,556,000 after acquiring an additional 3,665 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of Nice by 20.4% during the 4th quarter. Cerity Partners LLC now owns 6,402 shares of the technology company’s stock valued at $1,093,000 after acquiring an additional 1,083 shares during the period. Hedge funds and other institutional investors own 63.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NICE shares. JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 price target on shares of Nice in a report on Tuesday, July 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Nice in a research note on Wednesday, June 18th. Wall Street Zen cut Nice from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Piper Sandler reissued a “neutral” rating and issued a $182.00 price objective (up previously from $153.00) on shares of Nice in a report on Friday, June 13th. Finally, DA Davidson upgraded Nice to a “hold” rating in a research note on Tuesday, July 29th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.75.

Nice Trading Down 3.4%

Shares of Nice stock opened at $148.63 on Friday. The company’s 50-day moving average price is $164.10 and its 200-day moving average price is $159.90. Nice has a 12-month low of $137.19 and a 12-month high of $200.65. The company has a market cap of $9.40 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.40 and a beta of 0.98.

Nice (NASDAQ:NICE) last posted its earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.03. Nice had a net margin of 16.77% and a return on equity of 16.37%. The business had revenue of $700.19 million for the quarter, compared to analyst estimates of $699.46 million. During the same quarter in the prior year, the firm posted $2.58 EPS. Nice’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that Nice will post 9.85 earnings per share for the current year.

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.