UBS Asset Management Americas Inc. boosted its position in NIC Inc. (NASDAQ:EGOV) by 96.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,160 shares of the software maker’s stock after buying an additional 10,862 shares during the period. UBS Asset Management Americas Inc.’s holdings in NIC were worth $448,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of EGOV. Louisiana State Employees Retirement System raised its stake in NIC by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock worth $511,000 after buying an additional 400 shares during the last quarter. Comerica Bank increased its position in shares of NIC by 4.3% in the first quarter. Comerica Bank now owns 68,839 shares of the software maker’s stock worth $1,490,000 after buying an additional 2,813 shares during the period. Creative Planning increased its position in shares of NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock worth $234,000 after buying an additional 127 shares during the period. Adams Diversified Equity Fund Inc. increased its position in shares of NIC by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 42,500 shares of the software maker’s stock worth $859,000 after buying an additional 1,200 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of NIC by 19.6% in the first quarter. Nisa Investment Advisors LLC now owns 48,130 shares of the software maker’s stock worth $972,000 after buying an additional 7,880 shares during the period. 92.75% of the stock is currently owned by institutional investors.
Shares of NIC Inc. (NASDAQ EGOV) opened at 16.40 on Friday. The stock has a market cap of $1.09 billion, a PE ratio of 19.29 and a beta of 0.42. The firm has a 50 day moving average price of $18.52 and a 200 day moving average price 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 posted its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The business had revenue of $85.30 million for the quarter, compared to analyst estimates of $83.57 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that NIC Inc. will post $0.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, September 1st. NIC’s dividend payout ratio is currently 38.10%.
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EGOV has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Thursday, May 4th. DA Davidson started coverage on NIC in a research note on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price target for the company. BidaskClub downgraded NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Imperial Capital upgraded NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price target for the company in a research note on Monday, July 17th. Finally, Maxim Group cut their price target on NIC from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $20.00.
In other news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total transaction of $509,500.00. Following the sale, the chief operating officer now owns 197,531 shares of the company’s stock, valued at $4,025,681.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.
About NIC
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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