Macquarie Group Ltd. lowered its holdings in NIC Inc. (NASDAQ:EGOV) by 62.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 247,823 shares of the software maker’s stock after selling 416,798 shares during the period. Macquarie Group Ltd. owned about 0.37% of NIC worth $4,696,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Gotham Asset Management LLC boosted its position in NIC by 18.0% in the first quarter. Gotham Asset Management LLC now owns 293,849 shares of the software maker’s stock worth $5,936,000 after purchasing an additional 44,856 shares during the last quarter. Bank of New York Mellon Corp boosted its position in NIC by 53.4% in the second quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock worth $25,604,000 after purchasing an additional 470,181 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in NIC by 8.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 272,483 shares of the software maker’s stock worth $5,505,000 after purchasing an additional 20,473 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in NIC by 3.1% in the second quarter. Great West Life Assurance Co. Can now owns 91,902 shares of the software maker’s stock worth $1,736,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Financial Counselors Inc. boosted its position in NIC by 3.2% in the second quarter. Financial Counselors Inc. now owns 689,992 shares of the software maker’s stock worth $13,075,000 after purchasing an additional 21,084 shares during the last quarter. 92.93% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on EGOV shares. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, October 3rd. TheStreet cut NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Maxim Group cut their price objective on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. DA Davidson reissued a “neutral” rating and issued a $18.00 price objective on shares of NIC in a research report on Wednesday, September 20th. Finally, Sidoti cut 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 assigned a hold rating and one has assigned a buy rating to the company’s stock. NIC presently has an average rating of “Hold” and an average price target of $19.29.
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NIC Inc. (NASDAQ:EGOV) opened at 17.65 on Thursday. The stock’s 50 day moving average price is $17.01 and its 200-day moving average price is $18.55. The stock has a market cap of $1.17 billion, a PE ratio of 20.76 and a beta of 0.41. NIC Inc. has a 12 month low of $15.45 and a 12 month high of $25.90.
NIC (NASDAQ:EGOV) last issued its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, topping 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 company had revenue of $85.30 million during the quarter, compared to analyst estimates of $83.57 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. NIC’s revenue was up 5.6% compared to the same quarter last year. Analysts anticipate that NIC Inc. will post $0.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, September 1st. NIC’s payout ratio is currently 38.10%.
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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