Ameriprise Financial Inc. increased its position in NIC Inc. (NASDAQ:EGOV) by 4.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 656,433 shares of the software maker’s stock after buying an additional 28,513 shares during the period. Ameriprise Financial Inc.’s holdings in NIC were worth $13,260,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its position in NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock worth $138,000 after buying an additional 140 shares in the last quarter. Advisors Asset Management Inc. boosted its stake 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 worth $180,000 after buying an additional 7,647 shares during the period. Capstone Investment Advisors LLC acquired a new stake in shares of NIC during the fourth quarter worth approximately $219,000. Creative Planning boosted its stake in shares of NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock worth $234,000 after buying an additional 127 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of NIC by 8.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,412 shares of the software maker’s stock worth $249,000 after buying an additional 814 shares during the period. Institutional investors own 92.93% of the company’s stock.
Shares of NIC Inc. (NASDAQ:EGOV) opened at 19.90 on Monday. The company’s 50-day moving average is $20.76 and its 200 day moving average is $22.30. The firm has a market capitalization of $1.32 billion, a PE ratio of 23.27 and a beta of 0.53. NIC Inc. has a 52-week low of $19.50 and a 52-week high of $25.90.
NIC (NASDAQ:EGOV) last announced its earnings results on Monday, May 1st. The software maker reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. NIC had a net margin of 17.64% and a return on equity of 39.07%. The firm had revenue of $83.20 million during the quarter, compared to the consensus estimate of $81.99 million. During the same quarter in the previous year, the company posted $0.19 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts expect that NIC Inc. will post $0.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, June 2nd. NIC’s dividend payout ratio is currently 37.65%.
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A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Thursday, May 4th. Loop Capital assumed coverage on shares of NIC in a research report on Tuesday, February 14th. They issued a “hold” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $22.83.
In other news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the completion of the transaction, the chief operating officer now owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alexander C. Kemper sold 7,000 shares of the company’s stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $20.85, for a total transaction of $145,950.00. Following the transaction, the director now directly owns 32,232 shares of the company’s stock, valued at approximately $672,037.20. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.
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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