NIC Inc. (EGOV) Short Interest Update
NIC Inc. (NASDAQ:EGOV) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 4,753,966 shares, an increase of 2.1% from the May 15th total of 4,654,270 shares. Based on an average trading volume of 313,831 shares, the days-to-cover ratio is currently 15.1 days.
In related news, Director Alexander C. Kemper sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $20.85, for a total transaction of $145,950.00. Following the completion of the transaction, the director now directly owns 32,232 shares in the company, valued at approximately $672,037.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Robert W. Knapp sold 25,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,025,681.78. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new stake in NIC during the first quarter worth approximately $111,000. SG Americas Securities LLC boosted 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 worth $138,000 after buying an additional 482 shares during the period. State of Alaska Department of Revenue boosted 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 worth $138,000 after buying an additional 140 shares during the period. Advisors Asset Management Inc. boosted 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 worth $180,000 after buying an additional 7,647 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new stake in NIC during the fourth quarter worth approximately $219,000. Institutional investors and hedge funds own 85.83% of the company’s stock.
A number of brokerages recently issued reports on EGOV. Loop Capital began coverage on NIC in a research note on Tuesday, February 14th. They set a “hold” rating and a $22.00 price objective for the company. Zacks Investment Research upgraded NIC from a “sell” rating to a “hold” rating in a research note 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. The company presently has an average rating of “Hold” and a consensus target price of $22.83.
NIC (NASDAQ:EGOV) opened at 19.90 on Friday. The company has a market capitalization of $1.32 billion, a P/E ratio of 23.27 and a beta of 0.61. The firm has a 50-day moving average price of $20.76 and a 200 day moving average price of $22.30. NIC has a 1-year low of $19.50 and a 1-year high of $25.90.
NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Monday, May 1st. The software maker reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. The business had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $81.99 million. NIC had a return on equity of 40.16% and a net margin of 16.81%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. On average, equities analysts predict that NIC will post $0.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th will be given a $0.08 dividend. 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 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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