GSA Capital Partners LLP cut its stake in shares of NIC Inc. (NASDAQ:EGOV) by 48.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,806 shares of the software maker’s stock after selling 21,339 shares during the period. GSA Capital Partners LLP’s holdings in NIC were worth $432,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in EGOV. Pacad Investment Ltd. grew its stake in shares of NIC by 350.0% during the second quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock worth $102,000 after purchasing an additional 4,200 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of NIC during the first quarter worth $111,000. SG Americas Securities LLC grew its stake in shares of NIC by 7.6% during the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after purchasing an additional 482 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of NIC during the second quarter worth $153,000. Finally, Girard Partners LTD. acquired a new stake in shares of NIC during the second quarter worth $208,000. 92.93% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on EGOV shares. Zacks Investment Research cut NIC from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub cut NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. TheStreet cut NIC from a “b-” rating to a “c+” rating in a research note on Monday, August 14th. DA Davidson started coverage on NIC in a research note on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price objective for the company. Finally, Maxim Group decreased their price objective on NIC from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. NIC presently has an average rating of “Hold” and an average price target of $19.29.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business had revenue of $85.30 million during the quarter, compared to analyst estimates of $83.57 million. NIC had a return on equity of 38.37% and a net margin of 17.31%. NIC’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Friday, September 1st. NIC’s dividend payout ratio is currently 38.10%.
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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