Eagle Global Advisors LLC Trims Stock Holdings in Nice (NASDAQ:NICE)

Key Points

• Eagle Global Advisors LLC reduced its stake in Nice by 66.2%, selling 37,797 shares and bringing its total to 19,270 shares valued at approximately $2.97 million.
• Several institutional investors have significantly increased their positions in Nice, with Townsquare Capital growing its stake by 1,518.4%, now holding 26,056 shares worth $4.02 million.
• Analysts have mixed views on Nice's stock, with target prices ranging from $161 to $300, resulting in a consensus rating of "Moderate Buy" and a target price of $209.75.

Eagle Global Advisors LLC lessened its holdings in Nice (NASDAQ:NICE - Free Report) by 66.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,270 shares of the technology company's stock after selling 37,797 shares during the period. Eagle Global Advisors LLC's holdings in Nice were worth $2,971,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its position in Nice by 3.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 127,467 shares of the technology company's stock valued at $21,649,000 after acquiring an additional 4,414 shares during the last quarter. Cerity Partners LLC increased its position in Nice by 20.4% during the fourth quarter. Cerity Partners LLC now owns 6,402 shares of the technology company's stock valued at $1,093,000 after acquiring an additional 1,083 shares during the last quarter. Bank of Montreal Can increased its position in Nice by 2.8% during the fourth quarter. Bank of Montreal Can now owns 8,003 shares of the technology company's stock valued at $1,359,000 after acquiring an additional 218 shares during the last quarter. Raymond James Financial Inc. bought a new position in Nice during the fourth quarter valued at $26,810,000. Finally, Townsquare Capital LLC lifted its position in shares of Nice by 7.1% during the fourth quarter. Townsquare Capital LLC now owns 1,610 shares of the technology company's stock worth $273,000 after purchasing an additional 107 shares during the last quarter. Institutional investors own 63.34% of the company's stock.

Nice Stock Down 13.6%

Shares of Nice stock traded down $20.14 during trading on Thursday, reaching $127.85. The company's stock had a trading volume of 2,766,692 shares, compared to its average volume of 552,052. The company has a market cap of $8.09 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.29 and a beta of 0.98. Nice has a 1-year low of $127.00 and a 1-year high of $200.65. The company has a 50-day simple moving average of $162.22 and a two-hundred day simple moving average of $159.42.

Nice (NASDAQ:NICE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The technology company reported $3.01 earnings per share for the quarter, topping analysts' consensus estimates of $2.99 by $0.02. The firm had revenue of $726.71 million during the quarter, compared to analysts' expectations of $713.18 million. Nice had a return on equity of 16.37% and a net margin of 16.77%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.64 EPS. As a group, analysts anticipate that Nice will post 9.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup decreased their target price on Nice from $214.00 to $211.00 and set a "buy" rating for the company in a research report on Monday, May 19th. JMP Securities reiterated a "market outperform" rating and set a $300.00 target price on shares of Nice in a research report on Tuesday, July 29th. Cantor Fitzgerald reissued a "neutral" rating and set a $161.00 price target on shares of Nice in a research report on Wednesday, June 18th. Morgan Stanley dropped their price target on Nice from $235.00 to $202.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Wedbush reissued an "outperform" rating and set a $200.00 price target on shares of Nice in a research report on Friday, June 20th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.00.

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.