Nice (NASDAQ:NICE) Position Lowered by Clal Insurance Enterprises Holdings Ltd

Key Points

• Clal Insurance Enterprises Holdings Ltd has reduced its stake in Nice by 20.3%, now holding approximately 1.4 million shares, which makes it about 2.3% of their portfolio.
• Several large investors, including Barrow Hanley Mewhinney & Strauss and Deutsche Bank AG, have recently increased their positions in Nice, reflecting strong institutional interest.
• Nice reported earnings of $2.87 per share for the last quarter, exceeding analyst expectations, with revenue increasing by 6.2% year-over-year, indicating positive growth.

Clal Insurance Enterprises Holdings Ltd decreased its position in Nice (NASDAQ:NICE - Free Report) by 20.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,436,222 shares of the technology company's stock after selling 366,600 shares during the period. Nice comprises approximately 2.3% of Clal Insurance Enterprises Holdings Ltd's portfolio, making the stock its 9th biggest holding. Clal Insurance Enterprises Holdings Ltd owned about 2.27% of Nice worth $219,235,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Anchor Investment Management LLC lifted its holdings in Nice by 200.0% in the fourth quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock worth $25,000 after buying an additional 100 shares during the period. Park Square Financial Group LLC purchased a new position in shares of Nice in the 4th quarter worth about $25,000. McIlrath & Eck LLC raised its position in shares of Nice by 56.9% in the 4th 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 last quarter. NBC Securities Inc. purchased a new position in shares of Nice in the 1st quarter worth about $34,000. Finally, Cheviot Value Management LLC purchased a new position in shares of Nice in the 1st quarter worth about $36,000. 63.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wedbush reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Nice in a research report on Friday, June 20th. Citigroup lowered their price target on Nice from $214.00 to $211.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $190.00 price target on shares of Nice in a research report on Wednesday, June 18th. JMP Securities reaffirmed a "market outperform" rating and issued a $300.00 price target on shares of Nice in a research report on Tuesday, July 29th. Finally, DA Davidson decreased their target price on Nice from $195.00 to $150.00 and set a "neutral" rating for the company in a research report on Thursday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Nice presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.00.

Nice Stock Performance

Shares of NASDAQ NICE traded down $20.14 during midday trading on Thursday, hitting $127.85. 2,767,679 shares of the company's stock traded hands, compared to its average volume of 552,147. Nice has a 1 year low of $127.00 and a 1 year high of $200.65. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.29 and a beta of 0.98. The firm has a fifty day moving average of $162.22 and a 200 day moving average of $159.42.

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