Truist Financial Corp Lowers Stock Position in NICE Ltd. (NASDAQ:NICE)

Truist Financial Corp lowered its holdings in shares of NICE Ltd. (NASDAQ:NICE) by 12.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,771 shares of the technology company’s stock after selling 552 shares during the period. Truist Financial Corp’s holdings in NICE were worth $648,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sequoia Financial Advisors LLC grew its position in NICE by 4.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,207 shares of the technology company’s stock valued at $315,000 after buying an additional 47 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in NICE by 4.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,408 shares of the technology company’s stock worth $367,000 after purchasing an additional 65 shares in the last quarter. Financial Perspectives Inc raised its holdings in NICE by 17.8% during the second quarter. Financial Perspectives Inc now owns 569 shares of the technology company’s stock worth $98,000 after purchasing an additional 86 shares in the last quarter. GAMMA Investing LLC lifted its position in NICE by 72.1% in the first quarter. GAMMA Investing LLC now owns 210 shares of the technology company’s stock valued at $55,000 after purchasing an additional 88 shares during the period. Finally, Legacy Advisors LLC boosted its holdings in NICE by 1.3% in the 2nd quarter. Legacy Advisors LLC now owns 6,678 shares of the technology company’s stock valued at $1,148,000 after purchasing an additional 88 shares in the last quarter. 63.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on NICE shares. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price target on shares of NICE in a report on Thursday, October 3rd. Wedbush restated an “outperform” rating and set a $250.00 target price on shares of NICE in a research report on Friday, August 16th. Barclays cut their price target on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Northland Securities decreased their price objective on shares of NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. Finally, Piper Sandler dropped their target price on shares of NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $269.64.

NICE Stock Performance

NASDAQ:NICE opened at $177.72 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. The firm has a market cap of $11.17 billion, a PE ratio of 32.08, a P/E/G ratio of 1.34 and a beta of 1.05. The firm has a 50 day simple moving average of $168.96 and a 200-day simple moving average of $186.69. NICE Ltd. has a 1-year low of $149.54 and a 1-year high of $270.73.

NICE (NASDAQ:NICE) last released its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.06. NICE had a net margin of 15.55% and a return on equity of 14.68%. The business had revenue of $664.40 million for the quarter, compared to analysts’ expectations of $664.10 million. During the same period last year, the company earned $1.63 earnings per share. The company’s quarterly 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.

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.