Park Avenue Securities LLC Cuts Stake in NICE Ltd. (NASDAQ:NICE)

Park Avenue Securities LLC lowered its position in shares of NICE Ltd. (NASDAQ:NICE - Free Report) by 50.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,043 shares of the technology company's stock after selling 5,089 shares during the period. Park Avenue Securities LLC's holdings in NICE were worth $777,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NICE. Van ECK Associates Corp increased its stake in shares of NICE by 1.4% during the fourth quarter. Van ECK Associates Corp now owns 22,073 shares of the technology company's stock valued at $3,749,000 after buying an additional 307 shares during the period. Bogart Wealth LLC increased its stake in shares of NICE by 6.0% during the fourth quarter. Bogart Wealth LLC now owns 35,135 shares of the technology company's stock valued at $5,967,000 after buying an additional 1,985 shares during the period. Bright Futures Wealth Management LLC. purchased a new position in NICE in the fourth quarter valued at about $1,140,000. Rhumbline Advisers grew its stake in NICE by 5.4% in the fourth quarter. Rhumbline Advisers now owns 3,740 shares of the technology company's stock valued at $635,000 after purchasing an additional 192 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in NICE by 20.4% in the fourth quarter. Principal Securities Inc. now owns 6,160 shares of the technology company's stock valued at $1,046,000 after purchasing an additional 1,043 shares during the last quarter. Hedge funds and other institutional investors own 63.34% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on NICE. Piper Sandler lifted their target price on NICE from $153.00 to $182.00 and gave the company a "neutral" rating in a research note on Friday. DA Davidson lifted their target price on NICE from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Citigroup cut their target price on NICE from $214.00 to $211.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. JMP Securities reiterated a "market outperform" rating and issued a $300.00 target price on shares of NICE in a research note on Friday, May 16th. Finally, Barclays cut their target price on NICE from $286.00 to $226.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.92.

NICE Stock Down 3.4%

NICE stock opened at $165.68 on Friday. NICE Ltd. has a 52 week low of $137.19 and a 52 week high of $200.65. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01. The stock has a 50-day moving average price of $160.84 and a 200 day moving average price of $163.78.

NICE (NASDAQ:NICE - Get Free Report) last released its earnings results on Thursday, May 15th. The technology company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $0.03. NICE had a return on equity of 16.17% and a net margin of 16.18%. The firm had revenue of $700.19 million during the quarter, compared to the consensus estimate of $699.46 million. During the same quarter in the previous year, the company posted $2.58 earnings per share. The company's revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that NICE Ltd. will post 9.85 EPS for the current fiscal 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.

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