Prudential Financial Inc. grew its position in NIC Inc. (NASDAQ:EGOV) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 354,495 shares of the software maker’s stock after purchasing an additional 16,400 shares during the quarter. Prudential Financial Inc. owned approximately 0.53% of NIC worth $6,718,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in EGOV. Louisiana State Employees Retirement System raised its position in shares of NIC by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock valued at $511,000 after purchasing an additional 400 shares during the period. Russell Investments Group Ltd. raised its position in shares of NIC by 183.5% in the first quarter. Russell Investments Group Ltd. now owns 164,953 shares of the software maker’s stock valued at $3,332,000 after purchasing an additional 106,774 shares during the period. Great West Life Assurance Co. Can raised its position in shares of NIC by 7.7% in the first quarter. Great West Life Assurance Co. Can now owns 89,102 shares of the software maker’s stock valued at $1,795,000 after purchasing an additional 6,354 shares during the period. Advisors Asset Management Inc. raised its position 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 purchasing an additional 7,647 shares during the period. Finally, American Century Companies Inc. raised its position in shares of NIC by 10.5% in the first quarter. American Century Companies Inc. now owns 41,047 shares of the software maker’s stock valued at $829,000 after purchasing an additional 3,915 shares during the period. 92.93% of the stock is currently owned by institutional investors.
Shares of NIC Inc. (EGOV) opened at 17.00 on Friday. NIC Inc. has a 52 week low of $15.45 and a 52 week high of $25.90. The firm has a market cap of $1.13 billion, a P/E ratio of 20.00 and a beta of 0.40. The stock has a 50 day moving average of $16.32 and a 200 day moving average of $19.07.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, topping the Zacks’ 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 company had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter last year, the business earned $0.20 earnings per share. NIC’s revenue was up 5.6% on a year-over-year basis. Analysts anticipate that NIC Inc. will post $0.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.88%. The ex-dividend date was Friday, September 1st. NIC’s dividend payout ratio (DPR) is presently 38.10%.
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A number of equities analysts recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and set a $18.00 target price on shares of NIC in a research report on Wednesday. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, July 18th. BidaskClub raised shares of NIC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. 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. Finally, Imperial Capital raised shares of NIC from an “in-line” rating to an “outperform” rating and set a $23.00 target price on the stock in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $19.71.
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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