NICE Ltd. (NASDAQ:NICE) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its position in NICE Ltd. (NASDAQ:NICE) by 25.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,820 shares of the technology company’s stock after selling 1,326 shares during the period. QRG Capital Management Inc.’s holdings in NICE were worth $663,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. First Hawaiian Bank acquired a new stake in NICE in the second quarter valued at about $516,000. Diversified Trust Co lifted its position in NICE by 237.9% in the second quarter. Diversified Trust Co now owns 6,478 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 4,561 shares during the period. Capital World Investors acquired a new stake in NICE in the first quarter valued at about $9,699,000. Osborne Partners Capital Management LLC lifted its position in NICE by 6.4% in the third quarter. Osborne Partners Capital Management LLC now owns 67,821 shares of the technology company’s stock valued at $11,778,000 after purchasing an additional 4,080 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in NICE by 13.5% in the third quarter. Asset Management One Co. Ltd. now owns 47,214 shares of the technology company’s stock valued at $8,200,000 after purchasing an additional 5,629 shares during the period. Institutional investors and hedge funds own 63.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NICE shares. JMP Securities restated a “market outperform” rating and issued a $300.00 price objective on shares of NICE in a research report on Friday, August 16th. Northland Securities reduced their price target on shares of NICE from $305.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, August 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of NICE in a research report on Thursday, October 3rd. Wedbush reiterated an “outperform” rating and set a $250.00 price target on shares of NICE in a research report on Friday, August 16th. Finally, Barclays reduced their price target on shares of NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Sixteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NICE presently has an average rating of “Buy” and an average target price of $269.64.

NICE Trading Up 2.5 %

Shares of NICE opened at $189.99 on Friday. 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 50 day simple moving average of $170.69 and a 200-day simple moving average of $179.37. NICE Ltd. has a 1-year low of $151.52 and a 1-year high of $270.73. The stock has a market cap of $11.94 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.04.

NICE (NASDAQ:NICE) last issued its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.06. The business had revenue of $664.40 million during the quarter, compared to analysts’ expectations of $664.10 million. NICE had a net margin of 15.55% and a return on equity of 14.68%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the company posted $1.63 EPS. Equities analysts forecast that NICE Ltd. will post 8.5 EPS for the current fiscal 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.