Alpine Woods Capital Investors LLC purchased a new position in shares of NIC Inc. (NASDAQ:EGOV) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 14,500 shares of the software maker’s stock, valued at approximately $275,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of EGOV. BlackRock Inc. raised its position in shares of NIC by 139,679.0% in the first quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock worth $151,087,000 after buying an additional 7,474,225 shares in the last quarter. Copeland Capital Management LLC bought a new position in shares of NIC during the first quarter worth $10,900,000. FMR LLC raised its position in shares of NIC by 136.8% in the first quarter. FMR LLC now owns 743,200 shares of the software maker’s stock worth $15,013,000 after buying an additional 429,400 shares in the last quarter. Vanguard Group Inc. raised its position in shares of NIC by 7.8% in the first quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock worth $119,252,000 after buying an additional 427,702 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC raised its position in shares of NIC by 20.8% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock worth $37,647,000 after buying an additional 321,052 shares in the last quarter. 92.55% of the stock is currently owned by hedge funds and other institutional investors.
NIC Inc. (NASDAQ:EGOV) opened at 16.25 on Friday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 19.12 and a beta of 0.42. The firm has a 50-day moving average of $17.20 and a 200-day moving average of $19.92. NIC Inc. has a 1-year low of $15.45 and a 1-year high of $25.90.
NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $85.30 million for the quarter, compared to the consensus estimate of $83.57 million. NIC had a net margin of 17.31% and a return on equity of 38.37%. NIC’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. Equities research analysts anticipate that NIC Inc. will post $0.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Friday, September 1st. NIC’s dividend payout ratio is currently 38.10%.
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A number of research analysts recently weighed in on EGOV shares. Zacks Investment Research lowered shares of NIC from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub lowered shares of NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. DA Davidson began coverage on shares of NIC in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 target price on the stock. Maxim Group decreased their target price on shares of NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 21st. Finally, Sidoti lowered shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. NIC presently has a consensus rating of “Hold” and a consensus price target of $20.00.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the transaction, the chief operating officer now owns 197,531 shares of the company’s stock, valued at $4,025,681.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company 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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