Arrowstreet Capital Limited Partnership Sells 63,598 Shares of NICE Ltd. (NASDAQ:NICE)

Arrowstreet Capital Limited Partnership lessened its position in NICE Ltd. (NASDAQ:NICE) by 9.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 636,144 shares of the technology company’s stock after selling 63,598 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in NICE were worth $108,043,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Avion Wealth bought a new position in NICE in the 4th quarter valued at approximately $25,000. Tradewinds Capital Management LLC purchased a new stake in shares of NICE during the fourth quarter valued at $25,000. Richardson Financial Services Inc. increased its holdings in 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 buying an additional 67 shares in the last quarter. Sandy Spring Bank raised its position in NICE by 181.3% in the 4th quarter. Sandy Spring Bank now owns 225 shares of the technology company’s stock worth $38,000 after buying an additional 145 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in NICE in the 3rd quarter worth about $41,000. Institutional investors own 63.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NICE. Rosenblatt Securities reduced their price target on shares of NICE from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 21st. StockNews.com lowered shares of NICE from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 17th. Barclays dropped 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. Cantor Fitzgerald lowered their target price on NICE from $176.00 to $161.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Finally, Jefferies Financial Group restated a “hold” rating and set a $200.00 price target (down from $215.00) on shares of NICE in a research note on Thursday, December 19th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.64.

NICE Price Performance

Shares of NICE stock opened at $155.48 on Monday. NICE Ltd. has a one year low of $137.19 and a one year high of $260.62. The company’s fifty day moving average price is $159.03 and its 200-day moving average price is $169.37. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.07 and a beta of 1.12.

NICE (NASDAQ:NICE) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $718.47 million. Equities research analysts expect that NICE Ltd. will post 9.85 earnings per share for the current fiscal 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.