Sea Cliff Partners Management LP Sells 57,347 Shares of NICE Ltd. (NASDAQ:NICE)

Sea Cliff Partners Management LP cut its stake in NICE Ltd. (NASDAQ:NICE) by 34.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,000 shares of the technology company’s stock after selling 57,347 shares during the period. NICE makes up approximately 6.5% of Sea Cliff Partners Management LP’s holdings, making the stock its 9th largest holding. Sea Cliff Partners Management LP owned about 0.17% of NICE worth $18,682,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Silvercrest Asset Management Group LLC acquired a new stake in shares of NICE in the 4th quarter worth approximately $16,229,000. ProShare Advisors LLC boosted its position in NICE by 19.1% during the fourth quarter. ProShare Advisors LLC now owns 1,693 shares of the technology company’s stock worth $288,000 after purchasing an additional 271 shares in the last quarter. Quantinno Capital Management LP grew its holdings in NICE by 3.4% in the fourth quarter. Quantinno Capital Management LP now owns 20,146 shares of the technology company’s stock valued at $3,422,000 after purchasing an additional 668 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of NICE by 0.9% in the fourth quarter. Janus Henderson Group PLC now owns 650,056 shares of the technology company’s stock valued at $110,406,000 after buying an additional 5,609 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of NICE in the fourth quarter valued at $208,000. 63.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of NICE from $235.00 to $202.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. StockNews.com downgraded shares of NICE from a “strong-buy” rating to a “buy” rating in a report on Monday, February 17th. Rosenblatt Securities increased their price target on shares of NICE from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of NICE in a research note on Friday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $161.00 target price on shares of NICE in a research note on Friday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.79.

NICE Stock Up 1.4%

NICE stock opened at $163.43 on Friday. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 1.07 and a beta of 1.03. NICE Ltd. has a 52-week low of $137.19 and a 52-week high of $202.96. The stock’s fifty day simple moving average is $153.97 and its 200-day simple moving average is $165.25.

NICE (NASDAQ:NICE) last issued its quarterly earnings results on Thursday, May 15th. The technology company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.55). The business had revenue of $700.19 million during the quarter, compared to analyst estimates of $699.46 million. NICE had a return on equity of 16.17% and a net margin of 16.18%. As a group, analysts anticipate that NICE Ltd. will post 9.85 earnings per share for the current fiscal year.

NICE Company Profile

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.