Harvey Capital Management Inc. Buys 27,840 Shares of NICE Ltd. (NASDAQ:NICE)

Harvey Capital Management Inc. raised its stake in NICE Ltd. (NASDAQ:NICE) by 185.6% in the 4th quarter, HoldingsChannel reports. The firm owned 42,836 shares of the technology company’s stock after acquiring an additional 27,840 shares during the quarter. NICE makes up 1.7% of Harvey Capital Management Inc.’s portfolio, making the stock its 19th biggest position. Harvey Capital Management Inc.’s holdings in NICE were worth $7,275,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Avion Wealth acquired a new stake in NICE in the 4th quarter valued at $25,000. Creative Financial Designs Inc. ADV lifted its stake in shares of NICE by 208.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 148 shares of the technology company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of NICE during the third quarter valued at about $38,000. Richardson Financial Services Inc. increased its position in shares of NICE by 43.8% during the fourth quarter. Richardson Financial Services Inc. now owns 220 shares of the technology company’s stock worth $38,000 after acquiring an additional 67 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of NICE in the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 63.34% of the company’s stock.

NICE Stock Down 0.9 %

Shares of NICE stock opened at $172.22 on Wednesday. The firm has a market cap of $10.83 billion, a P/E ratio of 26.66, a PEG ratio of 1.22 and a beta of 1.06. The company has a 50 day moving average of $172.80 and a 200-day moving average of $173.18. NICE Ltd. has a 12-month low of $151.52 and a 12-month high of $270.73.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NICE. Citigroup lifted their price target on NICE from $330.00 to $334.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler reaffirmed a “neutral” rating on shares of NICE in a research report on Thursday, November 14th. Cantor Fitzgerald began coverage on NICE in a report on Friday, January 17th. They set a “neutral” rating and a $176.00 price target for the company. Northland Securities dropped their price objective on NICE from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $200.00 target price (down previously from $215.00) on shares of NICE in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.93.

About NICE

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.