NICE Ltd. (NASDAQ:NICE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of NICE Ltd. (NASDAQ:NICE) by 66.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,272 shares of the technology company’s stock after selling 12,440 shares during the period. Bank of New York Mellon Corp’s holdings in NICE were worth $1,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NICE. Avion Wealth acquired a new position in shares of NICE during the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC acquired a new position in NICE in the 4th quarter valued at $25,000. Richardson Financial Services Inc. raised its stake in NICE by 43.8% in the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock valued at $38,000 after purchasing an additional 67 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in NICE in the 3rd quarter valued at $41,000. Finally, R Squared Ltd acquired a new stake in NICE during the 4th quarter worth $51,000. 63.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NICE shares. Jefferies Financial Group reiterated a “hold” rating and issued a $200.00 price objective (down previously from $215.00) on shares of NICE in a report on Thursday, December 19th. Citigroup dropped their price target on NICE from $279.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Cantor Fitzgerald reduced their price objective on NICE from $176.00 to $161.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Barclays dropped their target price on NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Rosenblatt Securities reduced their price target on NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.64.

NICE Stock Performance

NICE stock opened at $156.17 on Tuesday. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12. The company’s 50 day simple moving average is $159.65 and its 200-day simple moving average is $169.45. NICE Ltd. has a 1 year low of $137.19 and a 1 year high of $270.73.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.71). NICE had a net margin of 16.18% and a return on equity of 16.17%. The firm had revenue of $721.60 million during the quarter, compared to analysts’ expectations of $718.47 million. Equities analysts expect that NICE Ltd. will post 9.85 earnings per share 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.