Louisiana State Employees Retirement System held its position in NIC Inc. (NASDAQ:EGOV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,300 shares of the software maker’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in NIC were worth $479,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gotham Asset Management LLC boosted its position in NIC by 18.0% in the first quarter. Gotham Asset Management LLC now owns 293,849 shares of the software maker’s stock worth $5,936,000 after buying an additional 44,856 shares during the period. Ameriprise Financial Inc. boosted its position in NIC by 4.5% in the first quarter. Ameriprise Financial Inc. now owns 656,433 shares of the software maker’s stock worth $13,260,000 after buying an additional 28,513 shares during the period. Koch Industries Inc. purchased a new position in NIC during the first quarter worth $349,000. Schwab Charles Investment Management Inc. boosted its position in NIC by 8.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 272,483 shares of the software maker’s stock worth $5,505,000 after buying an additional 20,473 shares during the period. Finally, Karp Capital Management Corp purchased a new position in NIC during the first quarter worth $669,000. Institutional investors and hedge funds own 92.76% of the company’s stock.
Shares of NIC Inc. (NASDAQ EGOV) remained flat at $16.05 during mid-day trading on Friday. 543,960 shares of the company’s stock traded hands. NIC Inc. has a 52 week low of $15.75 and a 52 week high of $25.90. The firm has a 50 day moving average price of $17.68 and a 200-day moving average price of $20.25. The stock has a market capitalization of $1.06 billion, a PE ratio of 18.88 and a beta of 0.42.
NIC (NASDAQ:EGOV) last posted its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $83.57 million. NIC had a return on equity of 38.37% and a net margin of 17.31%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. Equities research analysts predict that NIC Inc. will post $0.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, September 1st. NIC’s payout ratio is 38.10%.
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EGOV has been the topic of a number of analyst reports. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Imperial Capital upgraded shares of NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research report on Monday, July 17th. Maxim Group cut their price objective on shares of NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. Sidoti cut shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Friday, July 21st. Finally, BidaskClub cut shares of NIC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. 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. The company presently has a consensus rating of “Hold” and an average target price of $20.00.
In related news, COO Robert W. Knapp sold 25,000 shares of the business’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 completion of the sale, the chief operating officer now owns 197,531 shares in the company, valued at $4,025,681.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.10% of the stock is owned by insiders.
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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