Legal & General Group Plc grew its stake in shares of NIC Inc. (NASDAQ:EGOV) by 9.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 121,946 shares of the software maker’s stock after purchasing an additional 10,344 shares during the period. Legal & General Group Plc owned approximately 0.18% of NIC worth $2,311,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of NIC during the 1st quarter worth $111,000. SG Americas Securities LLC boosted its position in shares of NIC by 7.6% during the 1st quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after purchasing an additional 482 shares in the last quarter. 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. Wrapmanager Inc. purchased a new stake in shares of NIC during the 2nd quarter worth $214,000. Finally, State of Alaska Department of Revenue boosted its position in shares of NIC by 79.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,292 shares of the software maker’s stock worth $232,000 after purchasing an additional 5,442 shares in the last quarter. Institutional investors own 92.93% of the company’s stock.
NIC Inc. (NASDAQ:EGOV) opened at 16.90 on Friday. The stock’s 50 day moving average price is $16.32 and its 200 day moving average price is $19.07. The firm has a market cap of $1.12 billion, a P/E ratio of 19.88 and a beta of 0.40. NIC Inc. has a 1-year low of $15.45 and a 1-year high of $25.90.
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 Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter last year, the business posted $0.20 earnings per share. The company’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 year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.90%. NIC’s dividend payout ratio is currently 38.10%.
Several brokerages have commented on EGOV. DA Davidson restated a “neutral” rating and set a $18.00 target price on shares of NIC in a research report on Wednesday. Zacks Investment Research lowered shares of NIC from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. BidaskClub upgraded shares of NIC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. TheStreet lowered shares of NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Finally, Maxim Group set a $16.00 target price on shares of NIC and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $19.71.
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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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