Dimensional Fund Advisors LP raised its stake in NIC Inc. (NASDAQ:EGOV) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,066,804 shares of the software maker’s stock after buying an additional 14,342 shares during the period. Dimensional Fund Advisors LP owned about 3.12% of NIC worth $41,749,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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 period. Columbia Wanger Asset Management LLC raised its stake in 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. Conestoga Capital Advisors LLC raised its stake in NIC by 4.8% in the first quarter. Conestoga Capital Advisors LLC now owns 1,640,018 shares of the software maker’s stock valued at $33,128,000 after buying an additional 75,228 shares in the last quarter. Norges Bank bought a new stake in NIC during the fourth quarter valued at about $37,781,000. Finally, State Street Corp raised its stake in NIC by 6.1% in the fourth quarter. State Street Corp now owns 1,443,519 shares of the software maker’s stock valued at $34,504,000 after buying an additional 82,935 shares in the last quarter. Hedge funds and other institutional investors own 92.55% of the company’s stock.
Shares of NIC Inc. (NASDAQ EGOV) traded down 1.89% during midday trading on Thursday, reaching $15.55. The company’s stock had a trading volume of 580,395 shares. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 18.29 and a beta of 0.42. NIC Inc. has a one year low of $15.50 and a one year high of $25.90. The stock’s 50 day moving average price is $17.38 and its 200 day moving average price is $20.01.
NIC (NASDAQ:EGOV) last issued its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. NIC had a return on equity of 38.37% and a net margin of 17.31%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 EPS. Analysts predict that NIC Inc. will post $0.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, September 1st. NIC’s dividend payout ratio is currently 38.10%.
Several analysts have issued reports on the company. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a report on Monday. Maxim Group set a $16.00 price target on NIC and gave the company a “hold” rating in a report on Thursday, August 3rd. Sidoti lowered 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. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, July 18th. Finally, Imperial Capital raised NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price objective for the company in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. NIC currently 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 NIC 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 sale, the chief operating officer now owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is currently owned by 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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