Nice (NASDAQ:NICE) Stock Position Decreased by CCLA Investment Management

Key Points

• CCLA Investment Management has decreased its position in Nice (NASDAQ:NICE) by 5.3%, owning 666,993 shares after selling 37,501 shares in the 1st quarter.
• Nice's stock has an average rating of "Moderate Buy" among analysts, with target prices ranging from $161.00 to $300.00.
• The company reported a 6.2% year-over-year increase in revenue, with earnings per share of $2.87, surpassing analysts' expectations.

CCLA Investment Management decreased its position in Nice (NASDAQ:NICE - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 666,993 shares of the technology company's stock after selling 37,501 shares during the quarter. Nice comprises 1.8% of CCLA Investment Management's investment portfolio, making the stock its 28th largest holding. CCLA Investment Management owned 1.05% of Nice worth $102,736,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NICE. Thrivent Financial for Lutherans bought a new position in shares of Nice during the 4th quarter valued at $224,000. LPL Financial LLC increased its position in Nice by 86.9% during the fourth quarter. LPL Financial LLC now owns 27,136 shares of the technology company's stock worth $4,609,000 after buying an additional 12,616 shares during the last quarter. Norges Bank acquired a new position in Nice during the fourth quarter worth $6,794,000. Trexquant Investment LP acquired a new position in Nice during the fourth quarter worth $1,249,000. Finally, Pitcairn Co. increased its position in Nice by 21.5% during the fourth quarter. Pitcairn Co. now owns 3,725 shares of the technology company's stock worth $633,000 after buying an additional 658 shares during the last quarter. Institutional investors and hedge funds own 63.34% of the company's stock.

Analyst Ratings Changes

NICE has been the topic of several analyst reports. JMP Securities reissued a "market outperform" rating and set a $300.00 target price on shares of Nice in a research report on Tuesday, July 29th. Citigroup lowered their target price on shares of Nice from $214.00 to $211.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Wall Street Zen downgraded shares of Nice from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Royal Bank Of Canada reissued an "outperform" rating and set a $200.00 target price on shares of Nice in a research report on Wednesday, June 18th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $161.00 target price on shares of Nice in a research report on Wednesday, June 18th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $209.75.

Nice Stock Performance

Shares of NICE opened at $152.61 on Friday. The company has a 50-day simple moving average of $164.97 and a 200-day simple moving average of $160.16. The firm has a market capitalization of $9.65 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.39 and a beta of 0.98. Nice has a 52 week low of $137.19 and a 52 week high of $200.65.

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

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