CenterBook Partners LP Has $5.50 Million Holdings in Nice (NASDAQ:NICE)

Key Points

• CenterBook Partners LP has reduced its stake in Nice by 6.7% in the first quarter, owning approximately $5.50 million worth of shares.
• A number of hedge funds have shown varying activities with Nice, with some increasing their investments significantly, such as McIlrath & Eck LLC raising its stake by 56.9%.
• Wall Street analysts mostly favor Nice, with a consensus rating of "Moderate Buy" and a target price of $209.75, while some firms have lowered their ratings or price targets.

CenterBook Partners LP reduced its position in Nice (NASDAQ:NICE - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,695 shares of the technology company's stock after selling 2,544 shares during the period. CenterBook Partners LP owned about 0.06% of Nice worth $5,503,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Nice in the fourth quarter worth approximately $25,000. Anchor Investment Management LLC boosted its holdings in shares of Nice by 200.0% during the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock worth $25,000 after purchasing an additional 100 shares during the period. McIlrath & Eck LLC boosted its holdings in shares of Nice by 56.9% during the fourth quarter. McIlrath & Eck LLC now owns 160 shares of the technology company's stock worth $27,000 after purchasing an additional 58 shares during the period. NBC Securities Inc. acquired a new stake in shares of Nice during the first quarter worth approximately $34,000. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Nice during the fourth quarter worth approximately $38,000. 63.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on NICE shares. DA Davidson upgraded shares of Nice to a "hold" rating in a report on Tuesday, July 29th. Wedbush restated an "outperform" rating and set a $200.00 price target on shares of Nice in a report on Friday, June 20th. Piper Sandler restated a "neutral" rating and set a $182.00 price target (up from $153.00) on shares of Nice in a report on Friday, June 13th. Rosenblatt Securities restated a "buy" rating and set a $190.00 price target on shares of Nice in a report on Wednesday, June 18th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $161.00 price target on shares of Nice in a report on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Nice presently has an average rating of "Moderate Buy" and a consensus price target of $209.75.

Nice Stock Performance

Shares of Nice stock traded up $0.03 on Friday, reaching $148.66. The stock had a trading volume of 403,245 shares, compared to its average volume of 576,142. The business's 50-day moving average price is $163.77 and its two-hundred day moving average price is $159.79. Nice has a fifty-two week low of $137.19 and a fifty-two week high of $200.65. The stock has a market cap of $9.40 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98.

Nice (NASDAQ:NICE - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The technology company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.84 by $0.03. Nice had a net margin of 16.77% and a return on equity of 16.37%. The business had revenue of $700.19 million during the quarter, compared to analysts' expectations of $699.46 million. During the same period in the previous year, the company earned $2.58 earnings per share. Nice's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts forecast that Nice will post 9.85 earnings per share 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.