Harvey Capital Management Inc. Purchases Shares of 14,996 NICE Ltd. (NASDAQ:NICE)

Harvey Capital Management Inc. acquired a new position in shares of NICE Ltd. (NASDAQ:NICE) in the 3rd quarter, HoldingsChannel reports. The firm acquired 14,996 shares of the technology company’s stock, valued at approximately $2,604,000.

A number of other institutional investors also recently modified their holdings of NICE. Creative Financial Designs Inc. ADV lifted its position in NICE by 208.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of NICE by 135.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 186 shares of the technology company’s stock worth $32,000 after acquiring an additional 107 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of NICE during the third quarter worth approximately $38,000. Richardson Financial Services Inc. bought a new stake in shares of NICE during the first quarter valued at approximately $39,000. Finally, GAMMA Investing LLC increased 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 purchasing an additional 116 shares in the last quarter. Institutional investors own 63.34% of the company’s stock.

NICE Trading Down 1.0 %

Shares of NASDAQ NICE traded down $1.79 during midday trading on Friday, reaching $171.91. 487,924 shares of the stock were exchanged, compared to its average volume of 455,811. NICE Ltd. has a 12 month low of $151.52 and a 12 month high of $270.73. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 28.70, a P/E/G 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. The business has a 50-day simple moving average of $170.56 and a two-hundred day simple moving average of $181.10.

NICE (NASDAQ:NICE) last posted its earnings results on Thursday, August 15th. The technology company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.06. NICE had a return on equity of 14.68% and a net margin of 15.55%. The firm had revenue of $664.40 million for the quarter, compared to analyst estimates of $664.10 million. During the same period in the previous year, the company posted $1.63 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that NICE Ltd. will post 8.5 EPS for the current year.

Analysts Set New Price Targets

NICE has been the topic of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of NICE in a report on Tuesday, August 13th. Northland Securities cut their price target on NICE from $305.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th. JMP Securities reiterated a “market outperform” rating and issued a $300.00 price objective on shares of NICE in a research report on Friday, August 16th. Wedbush restated an “outperform” rating and set a $250.00 target price on shares of NICE in a research report on Friday, August 16th. Finally, Piper Sandler reduced their target price on shares of NICE from $238.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Sixteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, NICE has an average rating of “Buy” and a consensus target price of $269.64.

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.