Y.D. More Investments Ltd Reduces Stock Position in Nice (NASDAQ:NICE)

Key Points

• Y.D. More Investments Ltd reduced its stake in Nice by 72.3%, selling 9,901 shares to hold 3,794 shares valued at approximately $585,000.
• Several institutional investors, including Barrow Hanley Mewhinney & Strauss LLC, significantly increased their positions in Nice, which is now 63.34% owned by institutional shareholders.
• Nice's quarterly earnings report showed $2.87 earnings per share, beating estimates, and a 6.2% increase in revenue year-over-year.

Y.D. More Investments Ltd lowered its holdings in shares of Nice (NASDAQ:NICE - Free Report) by 72.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,794 shares of the technology company's stock after selling 9,901 shares during the quarter. Y.D. More Investments Ltd's holdings in Nice were worth $585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Nice in the 4th quarter valued at about $313,808,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Nice by 12.3% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,766,270 shares of the technology company's stock worth $272,306,000 after purchasing an additional 193,000 shares in the last quarter. Menora Mivtachim Holdings LTD. raised its stake in shares of Nice by 2.3% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,660,037 shares of the technology company's stock valued at $281,941,000 after acquiring an additional 36,865 shares in the last quarter. HMI Capital Management L.P. raised its stake in Nice by 12.8% in the fourth quarter. HMI Capital Management L.P. now owns 1,642,770 shares of the technology company's stock valued at $279,008,000 after buying an additional 186,600 shares in the last quarter. Finally, Vulcan Value Partners LLC grew its holdings in shares of Nice by 9.6% during the first quarter. Vulcan Value Partners LLC now owns 1,046,090 shares of the technology company's stock worth $161,340,000 after purchasing an additional 91,929 shares during the last quarter. 63.34% of the stock is owned by institutional investors.

Nice Stock Performance

Shares of NASDAQ:NICE traded down $3.46 during trading on Monday, hitting $145.20. The company's stock had a trading volume of 271,215 shares, compared to its average volume of 530,434. The company has a market capitalization of $9.18 billion, a PE ratio of 20.27, a PEG ratio of 1.35 and a beta of 0.98. The stock's 50-day moving average price is $163.77 and its two-hundred day moving average price is $159.74. Nice has a fifty-two week low of $137.19 and a fifty-two week high of $200.65.

Nice (NASDAQ:NICE - Get Free Report) last posted its quarterly earnings results 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. The business 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%. Nice's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 earnings per share. On average, equities analysts predict that Nice will post 9.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NICE shares. Rosenblatt Securities reissued a "buy" rating and set a $190.00 price target on shares of Nice in a research note on Wednesday, June 18th. Morgan Stanley dropped their price objective on shares of Nice from $235.00 to $202.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. DA Davidson upgraded shares of Nice to a "hold" rating in a research note on Tuesday, July 29th. 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, Piper Sandler restated a "neutral" rating and set a $182.00 price target (up previously from $153.00) on shares of Nice in a report on Friday, June 13th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Nice has a consensus rating of "Moderate Buy" and an average target price of $209.75.

Nice Company 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.