Gotham Asset Management LLC Has $5.94 Million Stake in NIC Inc. (EGOV)

Gotham Asset Management LLC increased its position in NIC Inc. (NASDAQ:EGOV) by 18.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 293,849 shares of the software maker’s stock after buying an additional 44,856 shares during the period. Gotham Asset Management LLC owned about 0.44% of NIC worth $5,936,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in shares of NIC during the first quarter worth approximately $111,000. SG Americas Securities LLC boosted its position in shares of NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after buying an additional 482 shares during the period. State of Alaska Department of Revenue boosted its position in shares of NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock worth $138,000 after buying an additional 140 shares during the period. Advisors Asset Management Inc. boosted its position in shares of NIC by 595.1% in the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock worth $180,000 after buying an additional 7,647 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in shares of NIC during the fourth quarter worth approximately $219,000. 92.93% of the stock is currently owned by institutional investors and hedge funds.

Shares of NIC Inc. (EGOV) traded down 0.75% during trading on Monday, reaching $19.85. The company’s stock had a trading volume of 13,643 shares. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 23.22 and a beta of 0.53. The company has a 50 day moving average of $20.48 and a 200-day moving average of $22.02. NIC Inc. has a 12-month low of $19.35 and a 12-month 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 return on equity of 39.07% and a net margin of 17.64%. The business had revenue of $83.20 million for the quarter, compared to the consensus estimate of $81.99 million. During the same period in the prior year, the business posted $0.19 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts forecast that NIC Inc. will post $0.73 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.60%. NIC’s dividend payout ratio (DPR) is presently 37.65%.

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Separately, Zacks Investment Research raised NIC from a “sell” rating to a “hold” rating in a research note on Tuesday, February 28th. 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 company’s stock. NIC has an average rating of “Hold” and a consensus price target of $22.83.

In other NIC news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total transaction of $509,500.00. Following the sale, the chief operating officer now directly owns 197,531 shares in the company, valued at $4,025,681.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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