NIC Inc. (NASDAQ:EGOV) Shares Bought by Copeland Capital Management LLC

Copeland Capital Management LLC raised its position in NIC Inc. (NASDAQ:EGOV) by 7.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 554,804 shares of the software maker’s stock after buying an additional 36,967 shares during the period. Copeland Capital Management LLC owned 0.84% of NIC worth $10,514,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of NIC by 139,679.0% in the first quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock worth $151,087,000 after buying an additional 7,474,225 shares during the last quarter. FMR LLC increased its stake in shares of NIC by 136.8% in the first quarter. FMR LLC now owns 743,200 shares of the software maker’s stock worth $15,013,000 after buying an additional 429,400 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of NIC by 7.8% in the first quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock worth $119,252,000 after buying an additional 427,702 shares during the last quarter. Columbia Wanger Asset Management LLC increased its stake in shares of NIC by 20.8% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock valued at $37,647,000 after buying an additional 321,052 shares in the last quarter. Finally, BTIM Corp. increased its stake in shares of NIC by 20.2% in the second quarter. BTIM Corp. now owns 1,111,666 shares of the software maker’s stock valued at $21,066,000 after buying an additional 187,062 shares in the last quarter. Hedge funds and other institutional investors own 92.75% of the company’s stock.

NIC Inc. (NASDAQ EGOV) traded up 1.23% on Friday, hitting $16.40. 602,157 shares of the stock were exchanged. The firm has a market cap of $1.09 billion, a P/E ratio of 19.29 and a beta of 0.42. The company has a 50-day moving average of $18.52 and a 200 day moving average of $20.67. NIC Inc. has a 12 month low of $15.75 and a 12 month high of $25.90.

NIC (NASDAQ:EGOV) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ 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 net margin of 17.31% and a return on equity of 38.37%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 earnings per share. Equities research analysts expect that NIC Inc. will post $0.74 earnings per share for the current fiscal year.

The company 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 $0.08 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.95%. NIC’s dividend payout ratio (DPR) is presently 38.10%.

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EGOV has been the topic of several recent research reports. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub lowered shares of NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. DA Davidson assumed coverage on shares of NIC in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price objective for the company. Maxim Group reduced their price objective on shares of NIC from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 21st. Finally, Sidoti lowered shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. NIC currently has an average rating of “Hold” and a consensus target price of $20.00.

In other news, COO Robert W. Knapp sold 25,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.38, for a total value of $509,500.00. Following the completion of the sale, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at $4,025,681.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

NIC Company Profile

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.