ARK Investment Management LLC Sells 1,171 Shares of NICE Ltd. (NASDAQ:NICE)

ARK Investment Management LLC cut its holdings in shares of NICE Ltd. (NASDAQ:NICE) by 10.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,137 shares of the technology company’s stock after selling 1,171 shares during the quarter. ARK Investment Management LLC’s holdings in NICE were worth $1,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Avion Wealth bought a new position in NICE during the fourth quarter worth $25,000. Tradewinds Capital Management LLC acquired a new stake in NICE in the 4th quarter worth $25,000. Creative Financial Designs Inc. ADV increased its holdings in shares of NICE by 208.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Richardson Financial Services Inc. raised its position in shares of NICE by 43.8% during the fourth quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock valued at $38,000 after buying an additional 67 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of NICE in the third quarter valued at about $41,000. 63.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NICE has been the topic of several research reports. DA Davidson lowered their price target on NICE from $300.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada cut their target price on NICE from $260.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. StockNews.com downgraded shares of NICE from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 17th. Citigroup lowered their price target on shares of NICE from $279.00 to $228.00 and set a “buy” rating on the stock in a report on Monday. Finally, Rosenblatt Securities reduced their price objective on shares of NICE from $225.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.64.

NICE Stock Down 4.4 %

NASDAQ:NICE opened at $144.89 on Thursday. The firm has a market cap of $9.11 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. NICE Ltd. has a 12 month low of $144.62 and a 12 month high of $270.73. The company’s 50-day moving average price is $168.07 and its two-hundred day moving average price is $172.70.

NICE (NASDAQ:NICE) last announced its earnings results 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 return on equity of 16.17% and a net margin of 16.18%. The business had revenue of $721.60 million during the quarter, compared to analyst estimates of $718.47 million. On average, research analysts expect that NICE Ltd. will post 9.85 EPS for the current fiscal year.

About NICE

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.