Tobam Sells 701 Shares of Nice Ltd (NICE)

Tobam decreased its position in Nice Ltd (NASDAQ:NICE) by 9.9% during the third quarter, HoldingsChannel.com reports. The fund owned 6,351 shares of the technology company’s stock after selling 701 shares during the period. Tobam’s holdings in Nice were worth $727,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in Nice by 8.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,950 shares of the technology company’s stock valued at $618,000 after acquiring an additional 470 shares during the period. Atria Investments LLC raised its stake in shares of Nice by 23.6% in the second quarter. Atria Investments LLC now owns 3,271 shares of the technology company’s stock worth $339,000 after buying an additional 624 shares during the period. Zacks Investment Management raised its stake in shares of Nice by 0.5% in the second quarter. Zacks Investment Management now owns 147,666 shares of the technology company’s stock worth $15,323,000 after buying an additional 773 shares during the period. Mount Yale Investment Advisors LLC raised its stake in shares of Nice by 15.4% in the second quarter. Mount Yale Investment Advisors LLC now owns 6,228 shares of the technology company’s stock worth $646,000 after buying an additional 832 shares during the period. Finally, Inverness Counsel LLC NY raised its stake in shares of Nice by 2.3% in the third quarter. Inverness Counsel LLC NY now owns 40,225 shares of the technology company’s stock worth $4,605,000 after buying an additional 901 shares during the period. 44.01% of the stock is currently owned by institutional investors.

NASDAQ:NICE opened at $114.45 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.34 and a quick ratio of 1.34. Nice Ltd has a 12-month low of $83.81 and a 12-month high of $119.83. The stock has a market cap of $6.72 billion, a P/E ratio of 49.55, a price-to-earnings-growth ratio of 3.07 and a beta of 0.87.

Nice (NASDAQ:NICE) last released its earnings results on Thursday, November 8th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.04). Nice had a return on equity of 9.49% and a net margin of 12.37%. The business had revenue of $356.45 million for the quarter, compared to analysts’ expectations of $350.67 million. As a group, research analysts anticipate that Nice Ltd will post 3.54 EPS for the current year.

Several research analysts have recently commented on the company. Zacks Investment Research downgraded Nice from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub raised Nice from a “hold” rating to a “buy” rating in a research note on Friday, July 27th. Royal Bank of Canada raised their price objective on Nice to $120.00 and gave the stock a “market perform” rating in a research note on Friday, November 9th. Wedbush assumed coverage on Nice in a research report on Thursday, October 18th. They set an “outperform” rating and a $130.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on Nice from $104.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Nice currently has an average rating of “Hold” and an average target price of $112.73.

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About Nice

NICE Ltd. provides enterprise software solutions worldwide. It operates in two segments, Customer Engagement and Financial Crime and Compliance. The Customer Engagement segment offers platform and solutions that empower businesses to deliver consistent and personalized experience across the customer journey, and delivered in the cloud, as well as on premise.

Further Reading: Relative Strength Index

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Institutional Ownership by Quarter for Nice (NASDAQ:NICE)

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