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

Harvey Capital Management Inc. cut its holdings in Nice (NASDAQ:NICE - Free Report) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,658 shares of the technology company's stock after selling 4,178 shares during the quarter. Nice makes up 1.6% of Harvey Capital Management Inc.'s portfolio, making the stock its 20th largest position. Harvey Capital Management Inc. owned 0.06% of Nice worth $5,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NICE. Jones Financial Companies Lllp boosted its holdings in Nice by 75.6% in the fourth quarter. Jones Financial Companies Lllp now owns 2,374 shares of the technology company's stock valued at $403,000 after acquiring an additional 1,022 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Nice by 28.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,168 shares of the technology company's stock valued at $878,000 after acquiring an additional 1,145 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Nice by 55.6% in the fourth quarter. Victory Capital Management Inc. now owns 92,542 shares of the technology company's stock valued at $15,717,000 after acquiring an additional 33,058 shares during the last quarter. Atria Investments Inc boosted its holdings in Nice by 39.2% in the fourth quarter. Atria Investments Inc now owns 1,720 shares of the technology company's stock valued at $292,000 after acquiring an additional 484 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Nice in the fourth quarter valued at about $5,106,000. 63.34% of the stock is currently owned by institutional investors and hedge funds.

Nice Trading Down 5.0%

Shares of NASDAQ NICE traded down $8.17 during mid-day trading on Friday, hitting $154.84. The company had a trading volume of 485,157 shares, compared to its average volume of 514,112. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 1.56 and a beta of 1.00. Nice has a 1 year low of $137.19 and a 1 year high of $200.65. The stock's 50-day moving average price is $166.59 and its 200-day moving average price is $161.53.

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. Nice had a return on equity of 16.37% and a net margin of 16.77%. The firm had revenue of $700.19 million during the quarter, compared to analyst estimates of $699.46 million. During the same quarter in the previous year, the company posted $2.58 earnings per share. The company's revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Nice will post 9.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on NICE. Morgan Stanley decreased their price target on Nice from $235.00 to $202.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. DA Davidson raised their price target on Nice from $185.00 to $195.00 and gave the company a "buy" rating in a report on Friday, June 20th. Cantor Fitzgerald restated a "neutral" rating and set a $161.00 target price on shares of Nice in a report on Wednesday, June 18th. Rosenblatt Securities restated a "buy" rating and set a $190.00 target price on shares of Nice in a report on Wednesday, June 18th. Finally, Wedbush restated an "outperform" rating and set a $200.00 target price on shares of Nice in a report on Friday, June 20th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $209.75.

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.