Bank of New York Mellon Corp Decreases Position in NICE Ltd. (NASDAQ:NICE)

Bank of New York Mellon Corp reduced its position in NICE Ltd. (NASDAQ:NICE) by 66.5% in the 4th quarter, Holdings Channel reports. The firm owned 6,272 shares of the technology company’s stock after selling 12,440 shares during the period. Bank of New York Mellon Corp’s holdings in NICE were worth $1,065,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Avion Wealth acquired a new position in shares of NICE in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC purchased a new position in shares of NICE in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. boosted its holdings in NICE by 43.8% during the fourth quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock worth $38,000 after buying an additional 67 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in NICE during the third quarter worth about $41,000. Finally, R Squared Ltd purchased a new stake in shares of NICE during the 4th quarter worth approximately $51,000. 63.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NICE. StockNews.com cut NICE from a “strong-buy” rating to a “buy” rating in a report on Monday, February 17th. Barclays dropped their target price on shares of NICE from $286.00 to $226.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Cantor Fitzgerald reduced their price target on shares of NICE from $176.00 to $161.00 and set a “neutral” rating on the stock in a report 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. Finally, Citigroup reduced their target price on NICE from $279.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, NICE currently has a consensus rating of “Moderate Buy” and an average price target of $231.64.

NICE Trading Down 0.4 %

NASDAQ NICE opened at $156.17 on Tuesday. The business’s 50-day moving average price is $159.65 and its 200 day moving average price is $169.45. NICE Ltd. has a twelve month low of $137.19 and a twelve month high of $270.73. The company has a market capitalization of $9.82 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12.

NICE (NASDAQ:NICE) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.96 by ($0.71). NICE had a return on equity of 16.17% and a net margin of 16.18%. The company had revenue of $721.60 million for the quarter, compared to analysts’ expectations of $718.47 million. Equities analysts predict that NICE Ltd. will post 9.85 EPS for the current 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.