Adams Diversified Equity Fund Inc. reduced its position in shares of NIC Inc. (NASDAQ:EGOV) by 15.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,000 shares of the software maker’s stock after selling 6,500 shares during the period. Adams Diversified Equity Fund Inc. owned about 0.05% of NIC worth $682,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new stake in NIC during the first quarter worth approximately $111,000. State of Alaska Department of Revenue boosted its stake in shares of NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock valued at $138,000 after buying an additional 140 shares during the last quarter. SG Americas Securities LLC boosted its stake 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 valued at $138,000 after buying an additional 482 shares during the last quarter. Advisors Asset Management Inc. boosted its stake 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 valued at $180,000 after buying an additional 7,647 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock valued at $234,000 after buying an additional 127 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.
NIC Inc. (EGOV) opened at 16.40 on Monday. NIC Inc. has a 1-year low of $15.75 and a 1-year high of $25.90. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 19.29 and a beta of 0.42. The company’s 50-day moving average price is $18.52 and its 200 day moving average price is $20.67.
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, beating analysts’ consensus estimates of $0.18 by $0.01. NIC had a net margin of 17.31% and a return on equity of 38.37%. The firm had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same period last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts expect that NIC Inc. will post $0.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders 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 yield of 1.95%. NIC’s payout ratio is presently 38.10%.
Several analysts recently commented on the company. Maxim Group set a $16.00 price target on NIC and gave the stock a “hold” rating in a research report on Thursday. Sidoti lowered NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Friday, July 21st. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, July 18th. Imperial Capital raised NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research note on Monday, July 17th. Finally, BidaskClub lowered NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $20.00.
In other news, COO Robert W. Knapp sold 25,000 shares of NIC stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the transaction, 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 legal filing with the SEC, which is available at the SEC website. Company 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.
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