Envestnet Asset Management Inc. Cuts Stock Holdings in Nice (NASDAQ:NICE)

Envestnet Asset Management Inc. cut its position in Nice (NASDAQ:NICE - Free Report) by 35.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,212 shares of the technology company's stock after selling 45,255 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of Nice worth $12,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Nice during the 4th quarter valued at $313,808,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Nice during the 1st quarter valued at $98,485,000. FIL Ltd purchased a new stake in shares of Nice during the 4th quarter valued at $70,465,000. Deutsche Bank AG grew its holdings in shares of Nice by 95.7% during 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 bought a new position in shares of Nice during the 1st quarter valued at $37,843,000. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

Nice Price Performance

NASDAQ:NICE traded up $1.44 during mid-day trading on Tuesday, hitting $156.91. 172,396 shares of the company's stock were exchanged, compared to its average volume of 512,409. Nice has a one year low of $137.19 and a one year high of $200.65. The business has a fifty day moving average price of $165.72 and a 200 day moving average price of $160.56. The company has a market cap of $9.92 billion, a PE ratio of 21.87, a P/E/G ratio of 1.39 and a beta of 1.00.

Nice (NASDAQ:NICE - Get Free Report) last issued 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 firm had revenue of $700.19 million for the quarter, compared to the consensus estimate of $699.46 million. Nice had a net margin of 16.77% and a return on equity of 16.37%. The business's 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. On average, equities analysts forecast that Nice will post 9.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on NICE. Rosenblatt Securities reaffirmed a "buy" rating and set a $190.00 target price on shares of Nice in a report on Wednesday, June 18th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $161.00 target price on shares of Nice in a report on Wednesday, June 18th. Piper Sandler reissued a "neutral" rating and issued a $182.00 price target (up previously from $153.00) on shares of Nice in a report on Friday, June 13th. Morgan Stanley cut their price target on shares of Nice from $235.00 to $202.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $200.00 price target on shares of Nice in a report on Wednesday, June 18th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $209.75.

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.