NICE Ltd. (NASDAQ:NICE) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its stake in NICE Ltd. (NASDAQ:NICE - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 636,144 shares of the technology company's stock after selling 63,598 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.01% of NICE worth $108,043,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in NICE by 34.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,023 shares of the technology company's stock valued at $699,000 after buying an additional 1,034 shares during the period. Cerity Partners LLC boosted its holdings in shares of NICE by 22.6% in the third quarter. Cerity Partners LLC now owns 5,319 shares of the technology company's stock valued at $924,000 after acquiring an additional 980 shares in the last quarter. Glenmede Trust Co. NA purchased a new stake in shares of NICE in the third quarter valued at about $209,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in NICE by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 286,929 shares of the technology company's stock valued at $49,831,000 after purchasing an additional 4,411 shares during the period. Finally, American Capital Management Inc. boosted its holdings in NICE by 1.4% in the 3rd quarter. American Capital Management Inc. now owns 540,311 shares of the technology company's stock valued at $93,836,000 after purchasing an additional 7,303 shares in the last quarter. Hedge funds and other institutional investors own 63.34% of the company's stock.

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NICE Price Performance

NASDAQ:NICE traded down $9.04 during trading hours on Friday, reaching $141.30. 527,229 shares of the company traded hands, compared to its average volume of 578,438. NICE Ltd. has a 1-year low of $137.19 and a 1-year high of $250.57. The stock has a market cap of $8.88 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.07 and a beta of 1.12. The firm's 50-day moving average is $157.89 and its 200-day moving average is $168.88.

NICE (NASDAQ:NICE - Get Free Report) last announced its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share 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 firm had revenue of $721.60 million during the quarter, compared to analyst estimates of $718.47 million. As a group, research analysts predict that NICE Ltd. will post 9.85 earnings per share for the current year.

Analysts Set New Price Targets

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