DekaBank Deutsche Girozentrale Sells 7,500 Shares of NICE Ltd. (NASDAQ:NICE)

DekaBank Deutsche Girozentrale trimmed its stake in shares of NICE Ltd. (NASDAQ:NICE) by 69.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,263 shares of the technology company’s stock after selling 7,500 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in NICE were worth $549,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Point72 Asset Management L.P. grew its holdings in NICE by 1,340.2% during the 4th quarter. Point72 Asset Management L.P. now owns 467,231 shares of the technology company’s stock valued at $93,217,000 after buying an additional 434,789 shares in the last quarter. Capital International Investors increased its holdings in NICE by 16.2% during the 4th quarter. Capital International Investors now owns 2,135,753 shares of the technology company’s stock worth $426,402,000 after acquiring an additional 298,112 shares during the period. Acadian Asset Management LLC lifted its stake in NICE by 63.2% in the 2nd quarter. Acadian Asset Management LLC now owns 694,050 shares of the technology company’s stock worth $119,317,000 after purchasing an additional 268,677 shares in the last quarter. Capital Research Global Investors lifted its stake in NICE by 4.0% in the 1st quarter. Capital Research Global Investors now owns 5,181,366 shares of the technology company’s stock worth $1,350,367,000 after purchasing an additional 201,035 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in shares of NICE during the 1st quarter valued at $44,480,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NICE shares. Northland Securities lowered their price objective on NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th. Citigroup lifted their price target on NICE from $339.00 to $346.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Royal Bank of Canada upped their price objective on shares of NICE from $230.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Barclays dropped their target price on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, Piper Sandler cut their price target on shares of NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NICE currently has an average rating of “Buy” and a consensus price target of $269.64.

NICE Stock Down 0.6 %

NICE opened at $164.89 on Friday. The company has a market cap of $10.37 billion, a P/E ratio of 29.76, a P/E/G ratio of 1.31 and a beta of 1.04. NICE Ltd. has a 12 month low of $149.54 and a 12 month high of $270.73. The business’s 50-day moving average price is $172.15 and its 200-day moving average price is $197.29. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13.

NICE (NASDAQ:NICE) last announced its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The firm had revenue of $664.40 million during the quarter, compared to the consensus estimate of $664.10 million. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. On average, equities analysts expect that NICE Ltd. will post 8.5 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.