Harvey Capital Management Inc. Makes New Investment in NICE Ltd. (NASDAQ:NICE)

Harvey Capital Management Inc. purchased a new stake in NICE Ltd. (NASDAQ:NICE - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,996 shares of the technology company's stock, valued at approximately $2,604,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV raised its position in NICE by 208.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company's stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in NICE by 135.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company's stock worth $32,000 after buying an additional 107 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in NICE during the 3rd quarter worth $38,000. Richardson Financial Services Inc. acquired a new stake in shares of NICE in the 1st quarter worth $39,000. Finally, GAMMA Investing LLC boosted its holdings in shares of NICE by 89.9% in the third quarter. GAMMA Investing LLC now owns 245 shares of the technology company's stock valued at $43,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 63.34% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wedbush reissued an "outperform" rating and set a $250.00 price target on shares of NICE in a report on Friday, August 16th. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price target on shares of NICE in a report on Tuesday, August 13th. Northland Securities reduced their price target on NICE from $305.00 to $275.00 and set an "outperform" rating for the company in a report on Friday, August 16th. JMP Securities reissued a "market outperform" rating and issued a $300.00 price target on shares of NICE in a report on Friday, August 16th. Finally, Piper Sandler reduced their price target on NICE from $238.00 to $213.00 and set an "overweight" rating for the company in a report on Wednesday, July 10th. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $269.64.

NICE Price Performance

NICE stock traded down $1.79 during mid-day trading on Friday, hitting $171.91. 487,924 shares of the company were exchanged, compared to its average volume of 455,811. The company has a market capitalization of $10.81 billion, a P/E ratio of 28.70, a PEG ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.45 and a quick ratio of 2.45. NICE Ltd. has a 12-month low of $151.52 and a 12-month high of $270.73. The business's 50 day simple moving average is $170.56 and its two-hundred day simple moving average is $181.10.

NICE (NASDAQ:NICE - Get Free Report) last announced its quarterly earnings data on Thursday, August 15th. The technology company reported $2.64 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The business had revenue of $664.40 million during the quarter, compared to the consensus estimate of $664.10 million. During the same quarter in the previous year, the business earned $1.63 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. Analysts forecast that NICE Ltd. will post 8.5 earnings per share for the current fiscal year.

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.