State of Wyoming Cuts Holdings in NiCE $NICE

State of Wyoming decreased its holdings in NiCE (NASDAQ:NICE) by 89.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 560 shares of the technology company’s stock after selling 4,921 shares during the period. State of Wyoming’s holdings in NiCE were worth $62,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in shares of NiCE by 1,637.6% during the first quarter. Principal Financial Group Inc. now owns 4,578,940 shares of the technology company’s stock valued at $504,874,000 after buying an additional 4,315,414 shares during the last quarter. RPD Fund Management LLC bought a new position in NiCE during the 4th quarter valued at about $100,154,000. Brandes Investment Partners LP purchased a new stake in shares of NiCE during the 4th quarter valued at about $79,944,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of NiCE during the 3rd quarter valued at about $88,599,000. Finally, Kopernik Global Investors LLC bought a new stake in shares of NiCE in the first quarter worth approximately $27,670,000. 63.34% of the stock is owned by institutional investors.

NiCE Trading Up 2.6%

NICE opened at $103.29 on Wednesday. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.04 and a beta of 0.74. The company’s 50 day moving average is $93.92 and its 200 day moving average is $103.20. NiCE has a 12-month low of $83.10 and a 12-month high of $156.37.

NiCE (NASDAQ:NICE) last announced its earnings results on Wednesday, May 6th. The technology company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.12. NiCE had a net margin of 17.57% and a return on equity of 17.42%. The business had revenue of $768.62 million during the quarter, compared to analysts’ expectations of $760.94 million. During the same period in the prior year, the company earned $2.87 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, analysts predict that NiCE will post 9.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on NICE. Citigroup reissued a “market outperform” rating on shares of NiCE in a report on Thursday, June 11th. Citizens Jmp cut their target price on shares of NiCE from $200.00 to $170.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of NiCE in a research note on Wednesday, June 24th. Morgan Stanley lowered their price target on NiCE from $148.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 price target on shares of NiCE in a research note on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.17.

NiCE Company 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.