Nice (NASDAQ:NICE) Stock Holdings Cut by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. reduced its stake in Nice (NASDAQ:NICE) by 3.2% during the first quarter, bringing its total holdings to approximately 1.4 million shares, making it the firm's 5th largest position.
• Nice reported quarterly earnings of $2.87 per share, exceeding analyst expectations of $2.84, and achieved a revenue of $700.19 million, representing a 6.2% year-over-year growth.
• The stock currently has an average rating of "Moderate Buy" from analysts, with a price target averaging $209.75.

Phoenix Financial Ltd. trimmed its holdings in shares of Nice (NASDAQ:NICE - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,402,538 shares of the technology company's stock after selling 46,859 shares during the period. Nice comprises about 3.3% of Phoenix Financial Ltd.'s portfolio, making the stock its 5th largest position. Phoenix Financial Ltd. owned approximately 2.22% of Nice worth $216,229,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Nice in the 4th quarter valued at approximately $313,808,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Nice in the 1st quarter valued at approximately $98,485,000. FIL Ltd purchased a new position in shares of Nice in the 4th quarter valued at approximately $70,465,000. Deutsche Bank AG raised its position in shares of Nice by 95.7% in the 4th quarter. Deutsche Bank AG now owns 606,341 shares of the technology company's stock valued at $102,981,000 after purchasing an additional 296,514 shares during the last quarter. Finally, Wealthquest Corp purchased a new position in shares of Nice in the 1st quarter valued at approximately $37,843,000. Institutional investors own 63.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NICE shares. 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. JMP Securities reissued a "market outperform" rating and set a $300.00 price target on shares of Nice in a research report on Tuesday. Wall Street Zen lowered shares of Nice from a "buy" rating to a "hold" rating in a research report on Saturday. Piper Sandler reissued a "neutral" rating and set a $182.00 price target (up from $153.00) on shares of Nice in a research report on Friday, June 13th. Finally, Wedbush reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Nice in a research note on Friday, June 20th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Nice currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.75.

Nice Trading Down 3.2%

NICE traded down $5.52 on Tuesday, hitting $164.85. 343,098 shares of the company's stock were exchanged, compared to its average volume of 524,152. Nice has a fifty-two week low of $137.19 and a fifty-two week high of $200.65. The firm has a 50-day moving average price of $165.30 and a 200-day moving average price of $160.36. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 1.48 and a beta of 1.00.

Nice (NASDAQ:NICE - Get Free Report) last announced its earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.03. The company had revenue of $700.19 million for the quarter, compared to analysts' expectations of $699.46 million. Nice had a net margin of 16.77% and a return on equity of 16.37%. The firm's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.58 EPS. On average, equities 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.