Harvey Capital Management Inc. Boosts Stake in NICE Ltd. (NASDAQ:NICE)

Harvey Capital Management Inc. raised its stake in NICE Ltd. (NASDAQ:NICE - Free Report) by 185.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,836 shares of the technology company's stock after purchasing an additional 27,840 shares during the period. NICE comprises 1.7% of Harvey Capital Management Inc.'s investment portfolio, making the stock its 19th biggest position. Harvey Capital Management Inc. owned approximately 0.07% of NICE worth $7,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NICE. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of NICE by 21.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,575,645 shares of the technology company's stock valued at $273,642,000 after acquiring an additional 279,375 shares during the last quarter. CCLA Investment Management grew its stake in shares of NICE by 14.1% in the 4th quarter. CCLA Investment Management now owns 704,494 shares of the technology company's stock valued at $119,517,000 after purchasing an additional 87,003 shares during the last quarter. American Capital Management Inc. grew its stake in shares of NICE by 1.4% in the 3rd quarter. American Capital Management Inc. now owns 540,311 shares of the technology company's stock valued at $93,836,000 after purchasing an additional 7,303 shares during the last quarter. Parnassus Investments LLC lifted its holdings in shares of NICE by 1.5% in the 3rd quarter. Parnassus Investments LLC now owns 517,039 shares of the technology company's stock valued at $89,794,000 after buying an additional 7,635 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NICE by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 286,929 shares of the technology company's stock valued at $49,831,000 after buying an additional 4,411 shares during the period. Institutional investors and hedge funds own 63.34% of the company's stock.

NICE Stock Down 1.0 %

Shares of NASDAQ:NICE traded down $1.74 during midday trading on Friday, reaching $176.49. The company's stock had a trading volume of 347,162 shares, compared to its average volume of 504,483. The business has a 50 day moving average price of $171.87 and a 200 day moving average price of $173.18. NICE Ltd. has a 1 year low of $151.52 and a 1 year high of $270.73. The firm has a market cap of $11.10 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 1.22 and a beta of 1.06.

Analysts Set New Price Targets

Several analysts have recently commented on NICE shares. Royal Bank of Canada reissued an "outperform" rating and issued a $260.00 price target on shares of NICE in a report on Friday, November 15th. DA Davidson reduced their price objective on NICE from $300.00 to $225.00 and set a "buy" rating for the company in a report on Friday, November 15th. Cantor Fitzgerald assumed coverage on NICE in a report on Friday, January 17th. They set a "neutral" rating and a $176.00 price objective for the company. Piper Sandler reaffirmed a "neutral" rating on shares of NICE in a report on Thursday, November 14th. Finally, StockNews.com raised NICE from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NICE presently has a consensus rating of "Moderate Buy" and an average target price of $253.93.

NICE 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.