Alliancebernstein L.P. Sells 2,653 Shares of NICE Ltd. (NASDAQ:NICE)

Alliancebernstein L.P. lowered its stake in shares of NICE Ltd. (NASDAQ:NICE - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,740 shares of the technology company's stock after selling 2,653 shares during the period. Alliancebernstein L.P. owned about 0.10% of NICE worth $10,656,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Avion Wealth acquired a new stake in NICE in the 4th quarter valued at $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of NICE in the 4th quarter valued at $25,000. Richardson Financial Services Inc. grew its holdings in shares of NICE by 43.8% in 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. Sandy Spring Bank increased its position in shares of NICE by 181.3% during the 4th quarter. Sandy Spring Bank now owns 225 shares of the technology company's stock worth $38,000 after purchasing an additional 145 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in NICE during the 3rd quarter valued at about $41,000. 63.34% of the stock is currently owned by institutional investors and hedge funds.

NICE Trading Down 1.2 %

Shares of NASDAQ:NICE traded down $1.80 during trading on Wednesday, reaching $153.15. 50,663 shares of the company traded hands, compared to its average volume of 581,587. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 1.07 and a beta of 1.05. NICE Ltd. has a 52-week low of $137.19 and a 52-week high of $235.71. The business's fifty day moving average is $154.56 and its 200-day moving average is $167.79.

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NICE (NASDAQ:NICE - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.96 by ($0.71). The company 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%. On average, sell-side analysts predict that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NICE. Rosenblatt Securities cut their price objective on NICE from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, February 21st. DA Davidson decreased their price target on NICE from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Monday. Cantor Fitzgerald cut their price target on shares of NICE from $176.00 to $161.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. StockNews.com cut shares of NICE from a "strong-buy" rating to a "buy" rating in a report on Monday, February 17th. Finally, Barclays cut 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.43.

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.