Frank Rimerman Advisors LLC Reduces Stake in NICE Ltd. (NASDAQ:NICE)

Frank Rimerman Advisors LLC reduced its position in NICE Ltd. (NASDAQ:NICE) by 29.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,437 shares of the technology company’s stock after selling 1,023 shares during the period. Frank Rimerman Advisors LLC’s holdings in NICE were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NICE. Atria Investments Inc purchased a new position in shares of NICE in the 3rd quarter worth $215,000. Natixis Advisors LLC purchased a new position in shares of NICE in the 3rd quarter worth $1,805,000. GLOBALT Investments LLC GA lifted its position in NICE by 2.1% during the third quarter. GLOBALT Investments LLC GA now owns 7,333 shares of the technology company’s stock valued at $1,274,000 after purchasing an additional 154 shares in the last quarter. Pathstone Holdings LLC lifted its position in NICE by 33.6% during the third quarter. Pathstone Holdings LLC now owns 8,992 shares of the technology company’s stock valued at $1,562,000 after purchasing an additional 2,260 shares in the last quarter. Finally, Bruni J V & Co. Co. purchased a new position in NICE during the third quarter valued at $22,849,000. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

NICE Trading Up 2.3 %

Shares of NICE stock opened at $144.61 on Monday. NICE Ltd. has a 12-month low of $137.19 and a 12-month high of $270.73. The stock’s 50-day moving average price is $161.13 and its 200-day moving average price is $170.12. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12.

NICE (NASDAQ:NICE) last issued its earnings results on Thursday, February 20th. The technology company reported $2.25 earnings per share (EPS) 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 firm had revenue of $721.60 million during the quarter, compared to the consensus estimate of $718.47 million. As a group, research analysts predict that NICE Ltd. will post 9.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on NICE shares. Cantor Fitzgerald lowered their target price on NICE from $176.00 to $161.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. StockNews.com downgraded NICE from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 17th. Royal Bank of Canada lowered their target price on NICE from $260.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group reiterated a “hold” rating and set a $200.00 target price (down from $215.00) on shares of NICE in a research report on Thursday, December 19th. Finally, Rosenblatt Securities decreased their price target on NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, NICE currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.64.

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.