CCLA Investment Management Lowers Holdings in NICE Ltd. (NASDAQ:NICE)

CCLA Investment Management trimmed its holdings in NICE Ltd. (NASDAQ:NICE) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 617,491 shares of the technology company’s stock after selling 4,827 shares during the period. CCLA Investment Management’s holdings in NICE were worth $106,190,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV grew its position in NICE by 45.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,853 shares of the technology company’s stock worth $1,006,000 after acquiring an additional 1,824 shares during the period. Virtu Financial LLC boosted its position in shares of NICE by 54.9% during the second quarter. Virtu Financial LLC now owns 9,751 shares of the technology company’s stock worth $1,677,000 after buying an additional 3,456 shares during the period. Primecap Management Co. CA purchased a new position in shares of NICE during the second quarter worth $344,000. Moors & Cabot Inc. boosted its position in shares of NICE by 11.0% during the second quarter. Moors & Cabot Inc. now owns 1,631 shares of the technology company’s stock worth $280,000 after buying an additional 162 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of NICE during the second quarter worth $18,529,000. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

NICE Trading Up 0.8 %

NICE stock opened at $162.75 on Wednesday. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 1.31 and a beta of 1.04. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $172.61 and a 200-day simple moving average of $198.36. NICE Ltd. has a 52 week low of $149.54 and a 52 week high of $270.73.

NICE (NASDAQ:NICE) last announced its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.06. NICE had a net margin of 15.55% and a return on equity of 14.68%. The firm had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $664.10 million. During the same period in the prior year, the company earned $1.63 EPS. The firm’s revenue was up 14.3% on a year-over-year basis. On average, equities research analysts expect that NICE Ltd. will post 8.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NICE. Piper Sandler cut their price target on NICE from $238.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Barclays lowered their price objective on NICE from $320.00 to $286.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Citigroup boosted their price target on NICE from $339.00 to $346.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of NICE in a research note on Tuesday, August 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $300.00 price target on shares of NICE in a report on Friday, August 16th. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $269.64.

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.