Ameritas Investment Partners Inc. acquired a new position in shares of NIC Inc. (NASDAQ:EGOV) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,484 shares of the software maker’s stock, valued at approximately $111,000.
A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new stake in NIC during the fourth quarter worth $37,781,000. Copeland Capital Management LLC bought a new stake in NIC during the first quarter worth $10,900,000. Bank of New York Mellon Corp increased its stake in NIC by 15.5% in the first quarter. Bank of New York Mellon Corp now owns 881,005 shares of the software maker’s stock worth $17,795,000 after buying an additional 118,114 shares during the last quarter. Russell Investments Group Ltd. increased its stake in NIC by 183.5% in the first quarter. Russell Investments Group Ltd. now owns 164,953 shares of the software maker’s stock worth $3,332,000 after buying an additional 106,774 shares during the last quarter. Finally, State Street Corp increased its stake in NIC by 6.1% in the fourth quarter. State Street Corp now owns 1,443,519 shares of the software maker’s stock worth $34,504,000 after buying an additional 82,935 shares during the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.
Shares of NIC Inc. (NASDAQ EGOV) opened at 19.00 on Wednesday. NIC Inc. has a 12 month low of $18.90 and a 12 month high of $25.90. The firm’s 50-day moving average is $20.48 and its 200-day moving average is $22.02. The company has a market cap of $1.26 billion, a PE ratio of 22.22 and a beta of 0.53.
NIC (NASDAQ:EGOV) last released its quarterly earnings data on Monday, May 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $81.99 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts predict that NIC Inc. will post $0.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, June 2nd. NIC’s payout ratio is 37.65%.
Separately, Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. NIC has a consensus rating of “Hold” and an average price target of $22.83.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.38, for a total value of $509,500.00. Following the transaction, the chief operating officer now owns 197,531 shares in the company, valued at $4,025,681.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by insiders.
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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