Brant Point Investment Management LLC cut its position in shares of NiCE (NASDAQ:NICE – Free Report) by 61.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the technology company’s stock after selling 7,958 shares during the quarter. Brant Point Investment Management LLC’s holdings in NiCE were worth $565,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the stock. Kestra Advisory Services LLC bought a new stake in NiCE in the fourth quarter worth $98,000. FORA Capital LLC boosted its holdings in NiCE by 129.8% in the fourth quarter. FORA Capital LLC now owns 7,552 shares of the technology company’s stock worth $854,000 after acquiring an additional 4,266 shares in the last quarter. Marshall Wace LLP boosted its holdings in NiCE by 27.1% in the fourth quarter. Marshall Wace LLP now owns 67,284 shares of the technology company’s stock worth $7,606,000 after acquiring an additional 14,360 shares in the last quarter. Inspire Advisors LLC boosted its holdings in NiCE by 22.5% in the fourth quarter. Inspire Advisors LLC now owns 4,044 shares of the technology company’s stock worth $457,000 after acquiring an additional 742 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in NiCE by 13.7% in the fourth quarter. Neuberger Berman Group LLC now owns 961,146 shares of the technology company’s stock worth $108,648,000 after acquiring an additional 115,526 shares in the last quarter. 63.34% of the stock is owned by institutional investors.
NiCE Price Performance
Shares of NASDAQ:NICE opened at $88.71 on Friday. The company has a market cap of $5.18 billion, a P/E ratio of 10.52, a PEG ratio of 0.92 and a beta of 0.78. NiCE has a 1 year low of $84.38 and a 1 year high of $175.00. The stock’s fifty day moving average price is $98.22 and its 200-day moving average price is $107.36.
NiCE declared that its board has authorized a share repurchase plan on Thursday, February 19th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 9.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Zacks Research raised NiCE from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Wedbush dropped their target price on NiCE from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday. Citizens Jmp dropped their target price on NiCE from $200.00 to $170.00 and set a “market outperform” rating on the stock in a report on Thursday, May 7th. Piper Sandler reissued a “neutral” rating and issued a $124.00 target price on shares of NiCE in a report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of NiCE in a report on Friday, March 27th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $132.83.
Get Our Latest Research Report on NICE
NiCE Profile
NiCE Ltd is a global software provider specializing in solutions for customer engagement, financial crime prevention, public safety, workforce optimization and border security. Its product offerings include cloud-native and on-premises platforms that leverage advanced analytics, artificial intelligence and automation to help organizations enhance customer experiences, streamline operations and ensure regulatory compliance. NiCE’s portfolio addresses the needs of contact centers, financial institutions, government agencies and enterprises across a broad range of industries.
In customer engagement, NiCE delivers tools for omnichannel interaction management, real-time and historical analytics, workforce management, and quality management.
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