Abacus FCF Advisors LLC Acquires Shares of 2,866 NICE Ltd. (NASDAQ:NICE)

Abacus FCF Advisors LLC bought a new position in shares of NICE Ltd. (NASDAQ:NICE) during the fourth quarter, HoldingsChannel reports. The firm bought 2,866 shares of the technology company’s stock, valued at approximately $487,000.

Several other hedge funds also recently made changes to their positions in NICE. Avion Wealth bought a new position in NICE during the fourth quarter worth $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of NICE during the fourth quarter worth $25,000. Richardson Financial Services Inc. lifted its position in shares of NICE by 43.8% in the 4th quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock worth $38,000 after buying an additional 67 shares during the last quarter. Sandy Spring Bank boosted its holdings in shares of NICE by 181.3% in the 4th quarter. Sandy Spring Bank now owns 225 shares of the technology company’s stock valued at $38,000 after buying an additional 145 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in NICE during the third quarter worth about $41,000. Institutional investors and hedge funds own 63.34% of the company’s stock.

NICE Price Performance

Shares of NASDAQ:NICE opened at $142.24 on Wednesday. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.07 and a beta of 1.05. NICE Ltd. has a 12 month low of $137.19 and a 12 month high of $244.80. The stock’s 50 day moving average price is $156.45 and its 200 day moving average price is $168.49.

NICE (NASDAQ:NICE) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates 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. On average, sell-side analysts expect that NICE Ltd. will post 9.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com downgraded NICE from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 17th. Citigroup reduced their price objective on NICE from $279.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Rosenblatt Securities dropped their target price on NICE from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of NICE in a research note on Wednesday, March 19th. Finally, Jefferies Financial Group restated a “hold” rating and set a $200.00 price target (down previously from $215.00) on shares of NICE in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.64.

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.