Frank Rimerman Advisors LLC Cuts Stock Position in NICE Ltd. (NASDAQ:NICE)

Frank Rimerman Advisors LLC reduced its position in NICE Ltd. (NASDAQ:NICE) by 29.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,437 shares of the technology company’s stock after selling 1,023 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in NICE were worth $414,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NICE. Financial Perspectives Inc lifted its holdings in NICE by 11.6% in the 4th quarter. Financial Perspectives Inc now owns 635 shares of the technology company’s stock worth $108,000 after buying an additional 66 shares during the period. Richardson Financial Services Inc. lifted its holdings in NICE by 43.8% in the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock worth $38,000 after buying an additional 67 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in NICE by 5.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,428 shares of the technology company’s stock worth $243,000 after buying an additional 77 shares during the period. Berry Wealth Group LP lifted its holdings in NICE by 5.2% in the 4th quarter. Berry Wealth Group LP now owns 1,616 shares of the technology company’s stock worth $274,000 after buying an additional 80 shares during the period. Finally, Rothschild Investment LLC lifted its holdings in NICE by 18.5% in the 4th quarter. Rothschild Investment LLC now owns 512 shares of the technology company’s stock worth $87,000 after buying an additional 80 shares during the period. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NICE shares. Cantor Fitzgerald dropped their price objective on NICE from $176.00 to $161.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Rosenblatt Securities decreased their target price on NICE from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, February 21st. StockNews.com lowered NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Barclays decreased their target price on NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Royal Bank of Canada decreased their target price on NICE from $260.00 to $200.00 and set an “outperform” rating for the company in a research 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.64.

NICE Trading Up 2.3 %

NICE stock opened at $144.61 on Monday. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 1.07 and a beta of 1.12. The stock has a fifty day simple moving average of $161.13 and a two-hundred day simple moving average of $170.12. NICE Ltd. has a 12 month low of $137.19 and a 12 month high of $270.73.

NICE (NASDAQ:NICE) last posted its earnings results on Thursday, February 20th. The technology company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). The business had revenue of $721.60 million during the quarter, compared to the consensus estimate of $718.47 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. On average, equities research analysts forecast that NICE Ltd. will post 9.85 EPS for the current fiscal year.

NICE 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.