New York State Common Retirement Fund Trims Holdings in NICE Ltd. (NASDAQ:NICE)

New York State Common Retirement Fund lowered its holdings in NICE Ltd. (NASDAQ:NICE) by 9.6% during the third quarter, Holdings Channel.com reports. The firm owned 89,226 shares of the technology company’s stock after selling 9,459 shares during the period. New York State Common Retirement Fund’s holdings in NICE were worth $15,496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NICE. Sequoia Financial Advisors LLC raised its position in NICE by 4.1% in the first quarter. Sequoia Financial Advisors LLC now owns 1,207 shares of the technology company’s stock valued at $315,000 after purchasing an additional 47 shares during the period. Richardson Financial Services Inc. purchased a new stake in shares of NICE in the 1st quarter valued at $39,000. Csenge Advisory Group raised its holdings in shares of NICE by 119.3% in the 1st quarter. Csenge Advisory Group now owns 2,252 shares of the technology company’s stock valued at $587,000 after buying an additional 1,225 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of NICE by 10.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,538 shares of the technology company’s stock valued at $922,000 after buying an additional 344 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of NICE by 127.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,331 shares of the technology company’s stock valued at $1,129,000 after buying an additional 2,423 shares during the period. Hedge funds and other institutional investors own 63.34% of the company’s stock.

NICE Price Performance

NICE stock opened at $171.50 on Wednesday. NICE Ltd. has a 52-week low of $151.52 and a 52-week high of $270.73. The stock’s fifty day simple moving average is $170.34 and its 200-day simple moving average is $180.32. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04.

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

Analyst Ratings Changes

Several research firms recently issued reports on NICE. Northland Securities cut their price objective on NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price objective on shares of NICE in a report on Thursday, October 3rd. Barclays lowered their target price on NICE from $320.00 to $286.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. JMP Securities reissued a “market outperform” rating and set a $300.00 target price on shares of NICE in a research note on Friday, August 16th. Finally, Piper Sandler lowered their target price on NICE from $238.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Sixteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $269.64.

NICE 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.