NIC Inc. (EGOV) COO Robert W. Knapp Sells 25,000 Shares
NIC Inc. (NASDAQ:EGOV) COO Robert W. Knapp sold 25,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at $4,025,681.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NIC Inc. (NASDAQ:EGOV) remained flat at $20.40 during mid-day trading on Tuesday. 335,315 shares of the company traded hands. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 23.86 and a beta of 0.61. The company has a 50 day moving average price of $20.81 and a 200-day moving average price of $22.64. NIC Inc. has a 12-month low of $18.75 and a 12-month high of $25.90.
NIC (NASDAQ:EGOV) last announced 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. NIC had a net margin of 17.56% and a return on equity of 39.21%. The company had revenue of $83.20 million during the quarter, compared to analyst estimates of $81.99 million. During the same period in the previous year, the business earned $0.19 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts predict that NIC Inc. will post $0.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.57%.
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A number of analysts recently commented on the company. Avondale Partners downgraded NIC from a “market perform” rating to an “underperform” rating and set a $18.00 price target for the company. in a research report on Thursday, February 2nd. They noted that the move was a valuation call. Zacks Investment Research downgraded NIC from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 3rd. Sidoti raised NIC from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Friday, February 3rd. Finally, Loop Capital assumed coverage on NIC in a research report on Tuesday, February 14th. They set a “hold” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $22.83.
A number of large investors have recently made changes to their positions in EGOV. Creative Planning raised 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 in the last quarter. State of Alaska Department of Revenue raised its stake 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 worth $138,000 after buying an additional 140 shares in the last quarter. Zebra Capital Management LLC raised its stake in shares of NIC by 0.6% in the fourth quarter. Zebra Capital Management LLC now owns 25,356 shares of the software maker’s stock worth $606,000 after buying an additional 163 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of NIC by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 13,610 shares of the software maker’s stock worth $320,000 after buying an additional 230 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its stake 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 worth $250,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 85.83% 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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