Harvey Capital Management Inc. Sells 4,178 Shares of Nice (NASDAQ:NICE)

Harvey Capital Management Inc. trimmed its position in Nice (NASDAQ:NICE - Free Report) by 9.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,658 shares of the technology company's stock after selling 4,178 shares during the period. Nice makes up approximately 1.6% of Harvey Capital Management Inc.'s portfolio, making the stock its 20th biggest position. Harvey Capital Management Inc. owned approximately 0.06% of Nice worth $5,960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Nice in the 4th quarter valued at about $313,808,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Nice during the first quarter valued at about $98,485,000. FIL Ltd purchased a new stake in Nice during the fourth quarter worth about $70,465,000. Deutsche Bank AG raised its position in Nice by 95.7% in the fourth quarter. Deutsche Bank AG now owns 606,341 shares of the technology company's stock worth $102,981,000 after acquiring an additional 296,514 shares during the period. Finally, Wealthquest Corp purchased a new position in Nice in the first quarter valued at about $37,843,000. 63.34% of the stock is owned by institutional investors.

Nice Stock Down 0.0%

Shares of NASDAQ:NICE traded down $0.04 on Wednesday, hitting $171.94. The company had a trading volume of 259,561 shares, compared to its average volume of 514,942. The firm's 50-day simple moving average is $166.13 and its two-hundred day simple moving average is $161.53. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 1.54 and a beta of 1.00. Nice has a 1 year low of $137.19 and a 1 year high of $200.65.

Nice (NASDAQ:NICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.03. The company had revenue of $700.19 million during the quarter, compared to analyst estimates of $699.46 million. Nice had a net margin of 16.77% and a return on equity of 16.37%. Nice's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $2.58 EPS. Equities research analysts anticipate that Nice will post 9.85 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NICE. Royal Bank Of Canada restated an "outperform" rating and issued a $200.00 price objective on shares of Nice in a research note on Wednesday, June 18th. JMP Securities reissued a "market outperform" rating and issued a $300.00 price target on shares of Nice in a report on Wednesday, June 18th. Rosenblatt Securities reissued a "buy" rating and issued a $190.00 price target on shares of Nice in a report on Wednesday, June 18th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $161.00 target price on shares of Nice in a report on Wednesday, June 18th. Finally, DA Davidson increased their target price on shares of Nice from $185.00 to $195.00 and gave the company a "buy" rating in a report on Friday, June 20th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $209.75.

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.