Mason Street Advisors LLC increased its position in shares of NIC Inc. (NASDAQ:EGOV) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,507 shares of the software maker’s stock after buying an additional 954 shares during the period. Mason Street Advisors LLC’s holdings in NIC were worth $293,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Creative Planning increased its position in shares of NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock valued at $234,000 after buying an additional 127 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of 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 in the last quarter. First Allied Advisory Services Inc. increased its position in shares of NIC by 2.6% in the fourth quarter. First Allied Advisory Services Inc. now owns 10,473 shares of the software maker’s stock valued at $250,000 after buying an additional 264 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of NIC by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock valued at $511,000 after buying an additional 400 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of NIC by 3.3% in the first quarter. Capstone Asset Management Co. now owns 18,505 shares of the software maker’s stock valued at $374,000 after buying an additional 585 shares in the last quarter. 92.93% of the stock is currently owned by institutional investors and hedge funds.
NIC Inc. (NASDAQ EGOV) opened at 19.60 on Thursday. NIC Inc. has a 12 month low of $19.35 and a 12 month high of $25.90. The company has a market capitalization of $1.30 billion, a P/E ratio of 22.92 and a beta of 0.53. The firm has a 50-day moving average price of $20.48 and a 200 day moving average price of $22.02.
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 the consensus estimate of $0.18 by $0.03. The firm had revenue of $83.20 million for the quarter, compared to analyst estimates of $81.99 million. NIC had a return on equity of 39.07% and a net margin of 17.64%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. Analysts expect that NIC Inc. will post $0.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $0.32 annualized dividend and a yield of 1.63%. NIC’s dividend payout ratio is 37.65%.
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Separately, Zacks Investment Research raised NIC from a “sell” rating to a “hold” rating in a research report on Tuesday, February 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus 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 that occurred on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the sale, 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 link. 4.10% of the stock is owned by corporate 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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