ARK Investment Management LLC Has $1.72 Million Stake in NICE Ltd. (NASDAQ:NICE)

ARK Investment Management LLC trimmed its position in shares of NICE Ltd. (NASDAQ:NICE) by 10.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,137 shares of the technology company’s stock after selling 1,171 shares during the period. ARK Investment Management LLC’s holdings in NICE were worth $1,722,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its holdings in shares of NICE by 208.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Avion Wealth acquired a new stake in NICE during the 4th quarter worth about $25,000. Tradewinds Capital Management LLC purchased a new position in NICE during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. increased its holdings in shares of 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 period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of NICE in the third quarter worth approximately $41,000. 63.34% of the stock is owned by institutional investors and hedge funds.

NICE Stock Performance

NICE opened at $144.89 on Thursday. The firm has a market cap of $9.11 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. The business has a 50 day moving average price of $168.07 and a 200 day moving average price of $172.70. NICE Ltd. has a twelve month low of $144.62 and a twelve month high of $270.73.

NICE (NASDAQ:NICE) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.71). The firm had revenue of $721.60 million during the quarter, compared to analyst estimates of $718.47 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. As a group, analysts anticipate that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on NICE shares. StockNews.com downgraded shares of NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Royal Bank of Canada lowered their price target on shares of NICE from $260.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Barclays cut their price objective on NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Jefferies Financial Group restated a “hold” rating and issued a $200.00 target price (down previously from $215.00) on shares of NICE in a research note on Thursday, December 19th. Finally, Rosenblatt Securities cut their price target on NICE from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.64.

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.