Employees Retirement System of Texas lessened its holdings in NIC Inc. (NASDAQ:EGOV) by 7.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,000 shares of the software maker’s stock after selling 4,000 shares during the period. Employees Retirement System of Texas owned 0.07% of NIC worth $891,000 as of its most recent SEC filing.
Several other hedge funds have also 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. Bank of New York Mellon Corp raised its position in shares of NIC by 53.4% in the second quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock worth $25,604,000 after buying an additional 470,181 shares in the last quarter. 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, Strs Ohio purchased a new stake in shares of NIC in the second quarter worth $5,827,000. Institutional investors own 92.93% of the company’s stock.
Shares of NIC Inc. (NASDAQ EGOV) opened at 17.50 on Tuesday. The firm’s 50-day moving average price is $16.93 and its 200 day moving average price is $18.60. NIC Inc. has a 52-week low of $15.45 and a 52-week high of $25.90. The company has a market capitalization of $1.16 billion, a PE ratio of 20.59 and a beta of 0.41.
NIC (NASDAQ:EGOV) last issued its earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The business 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%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. On average, equities analysts forecast that NIC Inc. will post $0.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were paid a $0.08 dividend. The ex-dividend date was Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.83%. NIC’s dividend payout ratio is currently 38.10%.
EGOV has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub downgraded NIC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. TheStreet downgraded NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. DA Davidson initiated coverage on NIC in a research report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price objective on the stock. Finally, Maxim Group lowered their price objective on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report 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. The stock has an average rating of “Hold” and a consensus price target of $19.29.
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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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