Arrowstreet Capital Limited Partnership Lowers Stock Holdings in NICE Ltd. (NASDAQ:NICE)

Arrowstreet Capital Limited Partnership reduced its position in NICE Ltd. (NASDAQ:NICE) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 636,144 shares of the technology company’s stock after selling 63,598 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.01% of NICE worth $108,043,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. New South Capital Management Inc. purchased a new stake in NICE in the fourth quarter worth approximately $54,980,000. Perpetual Ltd bought a new stake in shares of NICE in the 4th quarter worth approximately $31,792,000. Raymond James Financial Inc. purchased a new stake in shares of NICE in the 4th quarter valued at $26,810,000. Boston Partners grew its holdings in shares of NICE by 10.0% during the 4th quarter. Boston Partners now owns 1,670,327 shares of the technology company’s stock valued at $283,349,000 after purchasing an additional 151,528 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new position in NICE in the 3rd quarter worth $24,547,000. 63.34% of the stock is currently owned by institutional investors.

NICE Stock Down 2.1 %

Shares of NICE stock opened at $155.48 on Monday. The business’s fifty day moving average is $159.03 and its 200 day moving average is $169.37. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.07 and a beta of 1.12. NICE Ltd. has a twelve month low of $137.19 and a twelve month high of $260.62.

NICE (NASDAQ:NICE) last released its earnings results 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). NICE had a return on equity of 16.17% and a net margin of 16.18%. The business had revenue of $721.60 million during the quarter, compared to analysts’ expectations of $718.47 million. Equities research analysts expect that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on NICE. Jefferies Financial Group restated a “hold” rating and set a $200.00 price target (down from $215.00) on shares of NICE in a research report on Thursday, December 19th. Cantor Fitzgerald decreased their price target on NICE from $176.00 to $161.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of NICE in a research note on Wednesday, March 19th. Barclays decreased their target price on shares of NICE from $286.00 to $226.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, StockNews.com cut shares of NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.64.

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.