Cetera Investment Advisers Has $2.20 Million Stock Position in Nice (NASDAQ:NICE)

Key Points

• Cetera Investment Advisers significantly reduced its stock holdings in Nice by 89.5% in the first quarter, owning only 14,255 shares after selling 121,578 shares.
• Other institutional investors, such as LPL Financial LLC, increased their stakes in Nice by up to 86.9%, reflecting mixed interest in the company.
• Following an earnings report that exceeded analysts' expectations, Nice has received a moderate buy rating consensus from analysts, with a target price averaging $209.75.

Cetera Investment Advisers trimmed its stake in shares of Nice (NASDAQ:NICE - Free Report) by 89.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 14,255 shares of the technology company's stock after selling 121,578 shares during the quarter. Cetera Investment Advisers' holdings in Nice were worth $2,198,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Hamilton Point Investment Advisors LLC lifted its position in shares of Nice by 96.9% during the 1st quarter. Hamilton Point Investment Advisors LLC now owns 59,385 shares of the technology company's stock worth $9,155,000 after buying an additional 29,221 shares during the last quarter. Guardian Wealth Management Inc. bought a new stake in shares of Nice during the 1st quarter worth $1,201,000. Wedbush Securities Inc. lifted its position in shares of Nice by 18.0% during the 1st quarter. Wedbush Securities Inc. now owns 1,801 shares of the technology company's stock worth $278,000 after buying an additional 275 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Nice by 76.2% during the 1st quarter. IFP Advisors Inc now owns 652 shares of the technology company's stock worth $101,000 after buying an additional 282 shares during the last quarter. Finally, Formidable Asset Management LLC lifted its position in shares of Nice by 14.3% during the 1st quarter. Formidable Asset Management LLC now owns 4,589 shares of the technology company's stock worth $707,000 after buying an additional 573 shares during the last quarter. 63.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NICE has been the subject of several recent analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $161.00 price objective on shares of Nice in a research report on Wednesday, June 18th. Wall Street Zen cut Nice from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. JMP Securities reaffirmed a "market outperform" rating and issued a $300.00 target price on shares of Nice in a report on Tuesday, July 29th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $190.00 target price on shares of Nice in a report on Wednesday, June 18th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $182.00 target price (up previously from $153.00) on shares of Nice in a report on Friday, June 13th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Nice presently has an average rating of "Moderate Buy" and a consensus target price of $209.75.

Nice Stock Performance

Shares of NICE stock traded up $0.03 on Friday, hitting $148.66. The company had a trading volume of 403,245 shares, compared to its average volume of 576,142. The firm has a market cap of $9.40 billion, a P/E ratio of 20.73, a P/E/G ratio of 1.35 and a beta of 0.98. The stock's 50-day moving average is $163.77 and its two-hundred day moving average is $159.75. Nice has a twelve month low of $137.19 and a twelve month high of $200.65.

Nice (NASDAQ:NICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.03. The company had revenue of $700.19 million during the quarter, compared to analysts' expectations of $699.46 million. Nice had a return on equity of 16.37% and a net margin of 16.77%. The business's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.58 earnings per share. Equities research analysts predict that Nice will post 9.85 EPS for the current year.

Nice 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.