Migdal Insurance & Financial Holdings Ltd. Trims Stake in NICE Ltd. (NASDAQ:NICE)

Migdal Insurance & Financial Holdings Ltd. cut its stake in NICE Ltd. (NASDAQ:NICE) by 0.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,158,474 shares of the technology company’s stock after selling 171 shares during the period. NICE accounts for 4.7% of Migdal Insurance & Financial Holdings Ltd.’s portfolio, making the stock its 4th biggest position. Migdal Insurance & Financial Holdings Ltd.’s holdings in NICE were worth $231,127,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of NICE during the fourth quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new position in shares of NICE during the first quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of NICE during the third quarter worth approximately $37,000. Loomis Sayles & Co. L P raised its position in shares of NICE by 25.2% during the first quarter. Loomis Sayles & Co. L P now owns 298 shares of the technology company’s stock worth $65,000 after purchasing an additional 60 shares during the period. Finally, Private Trust Co. NA raised its position in shares of NICE by 40.1% during the fourth quarter. Private Trust Co. NA now owns 377 shares of the technology company’s stock worth $75,000 after purchasing an additional 108 shares during the period. 63.34% of the stock is owned by institutional investors and hedge funds.

NICE Price Performance

Shares of NASDAQ NICE traded down $0.64 during mid-day trading on Wednesday, reaching $230.82. The company’s stock had a trading volume of 87,348 shares, compared to its average volume of 357,771. The firm has a market capitalization of $14.69 billion, a PE ratio of 45.47, a P/E/G ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.06 and a quick ratio of 2.06. The stock has a fifty day moving average of $240.54 and a two-hundred day moving average of $206.88. NICE Ltd. has a 52 week low of $149.54 and a 52 week high of $270.73.

NICE (NASDAQ:NICE) last posted its earnings results on Thursday, February 22nd. The technology company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.10. NICE had a return on equity of 13.29% and a net margin of 14.23%. The company had revenue of $623.20 million for the quarter, compared to the consensus estimate of $616.83 million. During the same period in the previous year, the business earned $1.40 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts anticipate that NICE Ltd. will post 8.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NICE has been the subject of a number of analyst reports. Northland Securities initiated coverage on NICE in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $300.00 price target for the company. TheStreet raised NICE from a “c+” rating to a “b-” rating in a research report on Tuesday, February 6th. Oppenheimer upped their price objective on NICE from $225.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Barclays upped their price objective on NICE from $283.00 to $320.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Wedbush upped their price objective on NICE from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $291.55.

About NICE

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.