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

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

Several other institutional investors also recently added to or reduced their stakes in NICE. McIlrath & Eck LLC grew 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 buying an additional 58 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its stake in Nice by 3.3% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 2,627 shares of the technology company's stock worth $405,000 after purchasing an additional 83 shares in the last quarter. Anchor Investment Management LLC boosted its stake in Nice by 200.0% in the 4th quarter. Anchor Investment Management LLC now owns 150 shares of the technology company's stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Nice by 1.7% in the 4th quarter. Baird Financial Group Inc. now owns 6,059 shares of the technology company's stock worth $1,029,000 after purchasing an additional 100 shares in the last quarter. Finally, Townsquare Capital LLC boosted its stake in Nice by 7.1% in the 4th quarter. Townsquare Capital LLC now owns 1,610 shares of the technology company's stock worth $273,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 63.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NICE shares. DA Davidson lifted their target price on shares of Nice from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Rosenblatt Securities restated a "buy" rating and set a $190.00 price objective on shares of Nice in a research note on Wednesday, June 18th. Morgan Stanley decreased their price objective on shares of Nice from $235.00 to $202.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Citigroup decreased their price objective on shares of Nice from $214.00 to $211.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Finally, Wedbush restated an "outperform" rating and set a $200.00 price objective on shares of Nice in a research note on Friday, June 20th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $209.75.

Nice Trading Up 2.4%

NASDAQ:NICE traded up $3.89 during trading hours on Wednesday, reaching $162.77. 498,754 shares of the company were exchanged, compared to its average volume of 514,261. The stock's 50-day moving average is $165.39 and its 200-day moving average is $160.45. The firm has a market cap of $10.30 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.00. Nice has a twelve month low of $137.19 and a twelve month high of $200.65.

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

About Nice

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.