Credit Suisse AG reduced its stake in NIC Inc. (NASDAQ:EGOV) by 8.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,826 shares of the software maker’s stock after selling 8,496 shares during the period. Credit Suisse AG owned 0.15% of NIC worth $1,956,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of EGOV. Ameritas Investment Partners Inc. acquired a new position in NIC during the first quarter valued at $111,000. SG Americas Securities LLC raised its position in 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 period. State of Alaska Department of Revenue raised its position in 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 period. Advisors Asset Management Inc. increased 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 in the last quarter. Finally, Creative Planning increased 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 in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.
Shares of NIC Inc. (NASDAQ:EGOV) traded up 0.4858% during mid-day trading on Thursday, hitting $16.2787. The stock had a trading volume of 88,313 shares. The stock’s 50-day moving average is $17.89 and its 200 day moving average is $20.34. NIC Inc. has a 1-year low of $15.75 and a 1-year high of $25.90. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 19.1514 and a beta of 0.42.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. NIC had a net margin of 17.31% and a return on equity of 38.37%. The business had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same quarter 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. Equities research analysts predict that NIC Inc. will post $0.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, September 1st. NIC’s dividend payout ratio is 38.10%.
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Several brokerages have recently commented on EGOV. Maxim Group set a $16.00 target price on NIC and gave the company a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, July 18th. Imperial Capital upgraded NIC from an “in-line” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Monday, July 17th. Sidoti downgraded NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Friday, July 21st. Finally, DA Davidson began coverage on NIC in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 target price for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $20.00.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now 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 Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is currently owned by company insiders.
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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