Raymond James Financial Inc. Acquires New Stake in NICE Ltd. (NASDAQ:NICE)

Raymond James Financial Inc. purchased a new position in NICE Ltd. (NASDAQ:NICE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 157,856 shares of the technology company's stock, valued at approximately $26,810,000. Raymond James Financial Inc. owned approximately 0.25% of NICE at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Avion Wealth acquired a new position in NICE during the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC acquired a new stake in NICE during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its holdings in NICE by 43.8% during the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company's stock worth $38,000 after purchasing an additional 67 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in NICE during the 3rd quarter worth approximately $41,000. Finally, R Squared Ltd acquired a new stake in NICE during the 4th quarter worth approximately $51,000. 63.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NICE shares. StockNews.com lowered NICE from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 17th. Rosenblatt Securities decreased their price target on NICE from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Barclays decreased their price target on NICE from $286.00 to $226.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Citigroup cut their price objective on NICE from $279.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, Cantor Fitzgerald cut their price objective on NICE from $176.00 to $161.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $231.64.

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NICE Stock Performance

Shares of NASDAQ:NICE traded down $0.03 during midday trading on Tuesday, reaching $151.02. The company's stock had a trading volume of 529,326 shares, compared to its average volume of 561,375. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.07 and a beta of 1.12. The firm has a 50 day moving average price of $160.75 and a two-hundred day moving average price of $169.95. NICE Ltd. has a fifty-two week low of $137.19 and a fifty-two week high of $270.73.

NICE (NASDAQ:NICE - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.71). The firm had revenue of $721.60 million during the quarter, compared to the consensus estimate of $718.47 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. As a group, research analysts anticipate that NICE Ltd. will post 9.85 earnings per share for the current year.

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.