Advisors Asset Management Inc. reduced its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,328 shares of the software maker’s stock after selling 604 shares during the period. Advisors Asset Management Inc.’s holdings in NIC were worth $158,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of EGOV. BlackRock Inc. boosted its position in shares of NIC by 139,679.0% during the 1st quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock valued at $151,087,000 after acquiring an additional 7,474,225 shares in the last quarter. FMR LLC boosted its position in shares of NIC by 136.8% during the 1st quarter. FMR LLC now owns 743,200 shares of the software maker’s stock valued at $15,013,000 after acquiring an additional 429,400 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of NIC by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock valued at $119,252,000 after acquiring an additional 427,702 shares in the last quarter. Columbia Wanger Asset Management LLC boosted its position in shares of NIC by 20.8% during the 1st quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock valued at $37,647,000 after acquiring an additional 321,052 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of NIC during the 2nd quarter valued at about $5,827,000. Institutional investors and hedge funds own 92.93% of the company’s stock.
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Several analysts have recently weighed in on EGOV shares. Zacks Investment Research upgraded 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. TheStreet lowered shares of NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Maxim Group decreased their target price on shares of NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. Sidoti lowered shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Friday, July 21st. Finally, DA Davidson started coverage on shares of NIC in a research report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 target price on the stock. Two investment 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. NIC currently has a consensus rating of “Hold” and an average target price of $20.00.
NIC Inc. (EGOV) opened at 16.60 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 capitalization of $1.10 billion, a price-to-earnings ratio of 19.53 and a beta of 0.40. The firm has a 50-day moving average of $16.20 and a 200-day moving average of $19.35.
NIC (NASDAQ:EGOV) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $85.30 million for the quarter, compared to the consensus estimate of $83.57 million. NIC had a net margin of 17.31% and a return on equity of 38.37%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. On average, equities research analysts forecast that NIC Inc. will post $0.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.93%. NIC’s payout ratio is 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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