UMB Bank N A MO bought a new position in shares of NIC Inc. (NASDAQ:EGOV) in the second quarter, HoldingsChannel reports. The firm bought 10,075 shares of the software maker’s stock, valued at approximately $162,000.
Other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC purchased a new stake in NIC in the first quarter worth about $25,000. Investors Research Corp purchased a new stake in NIC in the first quarter worth about $26,000. NumerixS Investment Technologies Inc lifted its holdings in NIC by 477.8% in the first quarter. NumerixS Investment Technologies Inc now owns 5,200 shares of the software maker’s stock worth $88,000 after buying an additional 4,300 shares during the period. Meeder Asset Management Inc. lifted its holdings in NIC by 958.7% in the first quarter. Meeder Asset Management Inc. now owns 9,698 shares of the software maker’s stock worth $166,000 after buying an additional 8,782 shares during the period. Finally, Amalgamated Bank purchased a new stake in NIC in the fourth quarter worth about $130,000. Institutional investors own 86.44% of the company’s stock.
In other news, CFO Stephen M. Kovzan sold 35,000 shares of NIC stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $16.04, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now directly owns 230,691 shares in the company, valued at $3,700,283.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.
EGOV has been the subject of several research analyst reports. Loop Capital upgraded shares of NIC from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. ValuEngine upgraded shares of NIC from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. DA Davidson upgraded shares of NIC from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.00 to $21.00 in a report on Thursday, August 1st. BidaskClub upgraded shares of NIC from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Finally, TheStreet upgraded shares of NIC from a “c+” rating to a “b” rating in a report on Thursday, August 1st. Six analysts have rated the stock with a buy rating, NIC currently has a consensus rating of “Buy” and an average target price of $20.25.
Shares of EGOV stock traded down $0.40 during trading hours on Wednesday, hitting $20.15. 621 shares of the company’s stock traded hands, compared to its average volume of 405,570. The stock has a fifty day moving average price of $18.04. NIC Inc. has a 12-month low of $11.76 and a 12-month high of $23.45. The firm has a market cap of $1.39 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 2.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.69 and a current ratio of 2.69.
NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, July 31st. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. NIC had a net margin of 15.10% and a return on equity of 24.45%. The firm had revenue of $91.60 million during the quarter, compared to analyst estimates of $86.45 million. During the same period last year, the business earned $0.25 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. On average, equities research analysts forecast that NIC Inc. will post 0.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.32 annualized dividend and a dividend yield of 1.59%. NIC’s payout ratio is 36.36%.
NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.
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