Victory Capital Management Inc. increased its stake in shares of NIC Inc. (NASDAQ:EGOV) by 8.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,943 shares of the software maker’s stock after purchasing an additional 2,611 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of NIC worth $662,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new stake in NIC in the first quarter valued at approximately $111,000. SG Americas Securities LLC lifted its stake in NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after acquiring an additional 482 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in NIC by 595.1% in the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock valued at $180,000 after acquiring an additional 7,647 shares during the last quarter. Wrapmanager Inc. acquired a new stake in NIC in the second quarter valued at approximately $214,000. Finally, State of Alaska Department of Revenue lifted its stake in NIC by 79.4% in the second quarter. State of Alaska Department of Revenue now owns 12,292 shares of the software maker’s stock valued at $232,000 after acquiring an additional 5,442 shares during the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.
NIC Inc. (NASDAQ:EGOV) opened at 16.95 on Monday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 19.94 and a beta of 0.40. NIC Inc. has a 52-week low of $15.45 and a 52-week high of $25.90. The stock has a 50 day moving average of $16.28 and a 200-day moving average of $19.17.
NIC (NASDAQ:EGOV) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. NIC had a return on equity of 38.37% and a net margin of 17.31%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 EPS. On average, analysts forecast that NIC Inc. will post $0.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, September 1st. NIC’s payout ratio is presently 38.10%.
A number of research firms have issued reports on EGOV. Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, July 18th. BidaskClub upgraded shares of NIC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Maxim Group set a $16.00 target price on shares of NIC and gave the company a “hold” rating in a research note on Thursday, August 3rd. Imperial Capital upgraded shares of NIC from an “in-line” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Monday, July 17th. Finally, Sidoti cut shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $20.00.
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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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