Anchor Capital Advisors LLC Boosts Position in NIC Inc. (EGOV)

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Anchor Capital Advisors LLC increased its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 17.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,891 shares of the software maker’s stock after purchasing an additional 5,653 shares during the quarter. Anchor Capital Advisors LLC’s holdings in NIC were worth $665,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC boosted its position in NIC by 18.5% during the 1st quarter. Acadian Asset Management LLC now owns 271,312 shares of the software maker’s stock worth $4,638,000 after acquiring an additional 42,399 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of NIC by 21.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 233,576 shares of the software maker’s stock valued at $3,992,000 after buying an additional 40,889 shares during the last quarter. Martingale Asset Management L P boosted its holdings in shares of NIC by 73.3% in the 1st quarter. Martingale Asset Management L P now owns 331,257 shares of the software maker’s stock valued at $5,662,000 after buying an additional 140,143 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in shares of NIC by 5.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 16,730 shares of the software maker’s stock valued at $286,000 after buying an additional 928 shares during the last quarter. Finally, Freestone Capital Holdings LLC boosted its holdings in shares of NIC by 29.3% in the 1st quarter. Freestone Capital Holdings LLC now owns 733,524 shares of the software maker’s stock valued at $12,536,000 after buying an additional 166,381 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on EGOV. DA Davidson reissued a “neutral” rating on shares of NIC in a report on Monday, April 29th. Zacks Investment Research downgraded NIC from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Loop Capital raised NIC from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. BidaskClub downgraded NIC from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Finally, Barrington Research raised NIC from a “market perform” rating to an “outperform” rating and set a $26.00 price objective for the company in a report on Thursday, January 31st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.75.

NASDAQ EGOV opened at $16.20 on Friday. The company has a market capitalization of $1.08 billion, a PE ratio of 18.41, a P/E/G ratio of 2.28 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.80 and a quick ratio of 2.80. NIC Inc. has a 12 month low of $11.76 and a 12 month high of $18.05.

NIC (NASDAQ:EGOV) last released its quarterly earnings data on Monday, May 6th. The software maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. NIC had a return on equity of 26.73% and a net margin of 15.80%. The company had revenue of $85.20 million during the quarter, compared to the consensus estimate of $82.07 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that NIC Inc. will post 0.73 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 11th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Monday, June 10th. NIC’s dividend payout ratio is 36.36%.

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NIC Company Profile

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.

Read More: Cash Flow Analysis in Stock Selection

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Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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