Swiss National Bank held its position in shares of NIC Inc. (NASDAQ:EGOV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,000 shares of the software maker’s stock at the end of the first quarter. Swiss National Bank owned approximately 0.16% of NIC worth $2,081,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of NIC by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,052,462 shares of the software maker’s stock valued at $49,054,000 after buying an additional 7,373 shares during the period. Conestoga Capital Advisors LLC raised its position in shares of NIC by 4.8% in the first quarter. Conestoga Capital Advisors LLC now owns 1,640,018 shares of the software maker’s stock valued at $33,128,000 after buying an additional 75,228 shares during the period. Norges Bank purchased a new position in shares of NIC during the fourth quarter valued at $37,781,000. State Street Corp raised its position in shares of NIC by 6.1% in the fourth quarter. State Street Corp now owns 1,443,519 shares of the software maker’s stock valued at $34,504,000 after buying an additional 82,935 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of NIC by 15.5% in the first quarter. Bank of New York Mellon Corp now owns 881,005 shares of the software maker’s stock valued at $17,795,000 after buying an additional 118,114 shares during the period. 92.93% of the stock is owned by institutional investors and hedge funds.
Shares of NIC Inc. (NASDAQ EGOV) opened at 19.60 on Friday. The stock has a market cap of $1.30 billion, a P/E ratio of 22.92 and a beta of 0.53. The firm’s 50 day moving average price is $20.48 and its 200 day moving average price is $22.02. NIC Inc. has a 52-week low of $19.35 and a 52-week high of $25.90.
NIC (NASDAQ:EGOV) last issued its quarterly earnings data on Monday, May 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. NIC had a net margin of 17.64% and a return on equity of 39.07%. The firm had revenue of $83.20 million during the quarter, compared to the consensus estimate of $81.99 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts expect that NIC Inc. will post $0.73 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Friday, June 2nd. NIC’s dividend payout ratio is currently 37.65%.
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Separately, Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. NIC presently has an average rating of “Hold” and a consensus price target of $22.83.
In related news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.38, for a total value of $509,500.00. Following the completion of the transaction, the chief operating officer now owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.10% of the company’s stock.
NIC Company Profile
NIC Inc is a provider of digital government services that help governments use technology to provide services to businesses and citizens. The Company operates through Outsourced Portals segment. The Company offers its services through two channels: primary outsourced portal businesses, and software and services businesses.
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