Capital Research Global Investors Cuts Holdings in NICE Ltd. (NASDAQ:NICE)

Capital Research Global Investors trimmed its holdings in NICE Ltd. (NASDAQ:NICE - Free Report) by 40.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,700,453 shares of the technology company's stock after selling 1,139,200 shares during the quarter. Capital Research Global Investors owned approximately 2.70% of NICE worth $288,808,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors LLC bought a new position in shares of NICE during the third quarter worth $24,547,000. Wilmington Savings Fund Society FSB purchased a new stake in NICE in the 3rd quarter worth $41,000. Destination Wealth Management purchased a new stake in NICE in the 3rd quarter worth $309,000. Synovus Financial Corp boosted its holdings 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 purchasing an additional 262 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of NICE by 11.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,900 shares of the technology company's stock valued at $327,000 after purchasing an additional 192 shares in the last quarter. 63.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NICE shares. Morgan Stanley decreased their target price on NICE from $235.00 to $202.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald decreased 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. DA Davidson cut their target price on shares of NICE from $200.00 to $180.00 and set a "buy" rating for the company in a report on Monday, April 14th. StockNews.com downgraded shares of NICE from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 17th. Finally, Barclays reduced their target price on shares of NICE from $286.00 to $226.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Four investment 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, NICE currently has an average rating of "Moderate Buy" and a consensus price target of $224.29.

NICE Price Performance

Shares of NICE traded up $3.12 during mid-day trading on Thursday, reaching $154.52. 267,276 shares of the company's stock traded hands, compared to its average volume of 584,631. NICE Ltd. has a 12 month low of $137.19 and a 12 month high of $231.67. The stock has a market cap of $9.71 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.07 and a beta of 1.05. The stock's 50-day moving average is $151.56 and its two-hundred day moving average is $166.98.

NICE (NASDAQ:NICE - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $718.47 million. Research analysts predict 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.