Janus Henderson Group PLC Invests $168,000 in NIC Inc. (NASDAQ:EGOV)

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Janus Henderson Group PLC purchased a new position in NIC Inc. (NASDAQ:EGOV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,469 shares of the software maker’s stock, valued at approximately $168,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EGOV. JPMorgan Chase & Co. increased its stake in shares of NIC by 83.5% in the first quarter. JPMorgan Chase & Co. now owns 624,530 shares of the software maker’s stock worth $10,673,000 after acquiring an additional 284,122 shares during the last quarter. AJO LP bought a new stake in NIC in the first quarter worth $4,611,000. Dalton Greiner Hartman Maher & Co. bought a new stake in NIC in the second quarter worth $2,995,000. Freestone Capital Holdings LLC boosted its holdings in NIC by 29.3% in the first quarter. Freestone Capital Holdings LLC now owns 733,524 shares of the software maker’s stock worth $12,536,000 after purchasing an additional 166,381 shares in the last quarter. Finally, 361 Capital LLC bought a new stake in NIC in the first quarter worth $2,800,000. 87.16% of the stock is currently owned by institutional investors and hedge funds.

EGOV stock opened at $20.65 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.69 and a quick ratio of 2.69. NIC Inc. has a 52-week low of $11.76 and a 52-week high of $23.45. The company has a 50-day moving average of $19.27 and a two-hundred day moving average of $17.35. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.99.

NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, July 31st. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $86.45 million. During the same period in the prior year, the company earned $0.25 earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts expect that NIC Inc. will post 0.73 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, September 5th. NIC’s dividend payout ratio (DPR) is 36.36%.

In other NIC news, CFO Stephen M. Kovzan sold 35,000 shares of the company’s stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

A number of equities research analysts recently issued reports on EGOV shares. Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, June 4th. 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 upped their price objective for the stock from $18.00 to $21.00 in a report on Thursday, August 1st. Finally, Barrington Research reiterated a “buy” rating on shares of NIC in a report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a buy rating, NIC presently has an average rating of “Buy” and a consensus target price of $20.25.

About NIC

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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Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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