Wedbush Securities Inc. Sells 295 Shares of NICE Ltd. (NASDAQ:NICE)

Wedbush Securities Inc. cut its stake in NICE Ltd. (NASDAQ:NICE) by 12.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,015 shares of the technology company’s stock after selling 295 shares during the quarter. Wedbush Securities Inc.’s holdings in NICE were worth $347,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC raised its holdings in NICE by 4.1% in the first quarter. Sequoia Financial Advisors LLC now owns 1,207 shares of the technology company’s stock worth $315,000 after purchasing an additional 47 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of NICE by 46.3% during the 1st quarter. Lindbrook Capital LLC now owns 199 shares of the technology company’s stock worth $52,000 after acquiring an additional 63 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position 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 valued at $367,000 after acquiring an additional 65 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 acquiring an additional 88 shares in the last quarter. Finally, Legacy Advisors LLC grew its holdings in NICE by 1.3% in the second quarter. Legacy Advisors LLC now owns 6,678 shares of the technology company’s stock worth $1,148,000 after purchasing an additional 88 shares during the last quarter. 63.34% of the stock is owned by institutional investors.

NICE Stock Performance

NASDAQ:NICE opened at $164.93 on Friday. NICE Ltd. has a 12 month low of $149.54 and a 12 month high of $270.73. 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 capitalization of $10.37 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. The business’s fifty day moving average price is $172.85 and its 200 day moving average price is $199.62.

NICE (NASDAQ:NICE) last announced its quarterly earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The firm had revenue of $664.40 million during the quarter, compared to the consensus estimate of $664.10 million. During the same period in the prior year, the company posted $1.63 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts anticipate that NICE Ltd. will post 8.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler lowered their price objective on NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Jefferies Financial Group decreased their price target on shares of NICE from $280.00 to $230.00 and set a “buy” rating for the company in a report on Friday, May 17th. StockNews.com downgraded NICE from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 14th. Wedbush reissued an “outperform” rating and set a $250.00 target price on shares of NICE in a research note on Friday, August 16th. Finally, Citigroup boosted their price target on shares of NICE from $339.00 to $346.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $269.64.

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.