Citadel Advisors LLC Buys Shares of 121,784 NIC Inc. (EGOV)

Citadel Advisors LLC acquired a new stake in NIC Inc. (NASDAQ:EGOV) during the first quarter, Holdings Channel reports. The firm acquired 121,784 shares of the software maker’s stock, valued at approximately $2,461,000.

Several other large investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in NIC during the first quarter valued at approximately $111,000. State of Alaska Department of Revenue raised its stake 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 valued at $138,000 after buying an additional 140 shares during the period. SG Americas Securities LLC raised its stake in NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after buying an additional 482 shares during the period. Advisors Asset Management Inc. raised its stake in 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 buying an additional 7,647 shares during the period. Finally, Capstone Investment Advisors LLC bought a new stake in NIC during the fourth quarter valued at approximately $219,000. Hedge funds and other institutional investors own 92.93% of the company’s stock.

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

NIC Inc. (NASDAQ EGOV) traded up 0.51% during midday trading on Wednesday, hitting $19.80. The stock had a trading volume of 360,696 shares. The firm has a 50-day moving average of $20.48 and a 200 day moving average of $22.02. The firm has a market capitalization of $1.31 billion, a P/E ratio of 23.16 and a beta of 0.53. NIC Inc. has a 52-week low of $19.35 and a 52-week high of $25.90.

NIC (NASDAQ:EGOV) last issued its quarterly earnings data on Monday, May 1st. The software maker reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $83.20 million during the quarter, compared to the consensus estimate of $81.99 million. NIC had a net margin of 17.64% and a return on equity of 39.07%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. On average, equities analysts forecast that NIC Inc. will post $0.73 EPS 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. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.62%. NIC’s dividend payout ratio (DPR) is currently 37.65%.

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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 research note on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. NIC currently has an average 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 company’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 completion of the transaction, the chief operating officer now owns 197,531 shares in the company, valued at $4,025,681.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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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