Rhumbline Advisers lowered its stake in NIC Inc. (NASDAQ:EGOV) by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,982 shares of the software maker’s stock after selling 852 shares during the period. Rhumbline Advisers owned approximately 0.19% of NIC worth $2,387,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of NIC in the first quarter worth about $111,000. SG Americas Securities LLC lifted its position in shares of NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after buying an additional 482 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of NIC by 595.1% in the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock worth $180,000 after buying an additional 7,647 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of 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 worth $232,000 after buying an additional 5,442 shares during the last quarter. Finally, Creative Planning lifted its position in shares of NIC by 9.3% in the second quarter. Creative Planning now owns 12,641 shares of the software maker’s stock worth $240,000 after buying an additional 1,077 shares during the last quarter. 92.93% of the stock is owned by institutional investors.
A number of brokerages have weighed in on EGOV. Zacks Investment Research cut NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Maxim Group set a $16.00 price target on NIC and gave the stock a “hold” rating in a research report on Thursday, August 3rd. DA Davidson began coverage on NIC in a research report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price target for the company. BidaskClub raised NIC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Sidoti cut NIC from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. NIC currently has an average rating of “Hold” and a consensus target price of $20.00.
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NIC Inc. (EGOV) opened at 16.75 on Wednesday. The stock has a 50 day moving average price of $16.21 and a 200-day moving average price of $19.27. NIC Inc. has a 1-year low of $15.45 and a 1-year high of $25.90. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 19.71 and a beta of 0.40.
NIC (NASDAQ:EGOV) last posted its quarterly earnings data 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. NIC had a net margin of 17.31% and a return on equity of 38.37%. The company had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same period in the prior year, the business posted $0.20 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts predict that NIC Inc. will post $0.74 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.91%. NIC’s dividend payout ratio is 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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