QRG Capital Management Inc. Lowers Stake in NiCE $NICE

QRG Capital Management Inc. trimmed its position in NiCE (NASDAQ:NICE) by 55.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,422 shares of the technology company’s stock after selling 7,859 shares during the quarter. QRG Capital Management Inc.’s holdings in NiCE were worth $930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. increased its position in NiCE by 99.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 199 shares of the technology company’s stock worth $33,000 after purchasing an additional 99 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in NiCE during the second quarter worth approximately $40,000. Atlantic Union Bankshares Corp acquired a new stake in shares of NiCE in the second quarter worth $60,000. Legal & General Group Plc purchased a new position in shares of NiCE in the 2nd quarter valued at $65,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of NiCE by 1,388.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 402 shares of the technology company’s stock valued at $68,000 after acquiring an additional 375 shares in the last quarter. 63.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NICE. Cantor Fitzgerald lowered their price target on NiCE from $154.00 to $133.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of NiCE in a research report on Monday, December 29th. Zacks Research downgraded NiCE from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Mizuho reduced their price target on NiCE from $185.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 18th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $122.00 price objective on shares of NiCE in a research report on Tuesday, December 23rd. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, NiCE has a consensus rating of “Hold” and an average target price of $159.77.

NiCE Stock Performance

Shares of NICE opened at $112.08 on Wednesday. NiCE has a one year low of $99.00 and a one year high of $180.61. The stock has a 50-day moving average price of $111.40 and a 200 day moving average price of $132.36. The company has a market capitalization of $7.09 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.66 and a beta of 0.97.

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.