Prudential Financial Inc. grew its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 354,495 shares of the software maker’s stock after acquiring an additional 16,400 shares during the period. Prudential Financial Inc. owned 0.53% of NIC worth $6,718,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of EGOV. Louisiana State Employees Retirement System grew its holdings in NIC by 1.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock worth $511,000 after acquiring an additional 400 shares during the period. Russell Investments Group Ltd. grew its holdings in NIC by 183.5% during the 1st quarter. Russell Investments Group Ltd. now owns 164,953 shares of the software maker’s stock worth $3,332,000 after acquiring an additional 106,774 shares during the period. Great West Life Assurance Co. Can grew its holdings in NIC by 7.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 89,102 shares of the software maker’s stock worth $1,795,000 after acquiring an additional 6,354 shares during the period. Advisors Asset Management Inc. boosted its position in shares of NIC by 595.1% during the 1st quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock worth $180,000 after purchasing an additional 7,647 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of NIC by 10.5% during the 1st quarter. American Century Companies Inc. now owns 41,047 shares of the software maker’s stock worth $829,000 after purchasing an additional 3,915 shares in the last quarter. Hedge funds and other institutional investors own 92.93% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Maxim Group set a $16.00 price objective on shares of NIC and gave the stock a “hold” rating in a research report on Thursday, August 3rd. DA Davidson assumed coverage on shares of NIC in a research report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price objective on the stock. BidaskClub raised shares of NIC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Sidoti cut shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.00.
NIC Inc. (EGOV) opened at 16.95 on Friday. The company has a market cap of $1.12 billion, a PE ratio of 19.94 and a beta of 0.40. The stock’s 50 day moving average is $16.28 and its 200-day moving average is $19.17. NIC Inc. has a 52-week low of $15.45 and a 52-week high of $25.90.
NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. NIC’s quarterly revenue 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, September 1st. NIC’s dividend payout ratio is currently 38.10%.
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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