Burney Co. trimmed its position in shares of NIC Inc. (NASDAQ:EGOV) by 36.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,832 shares of the software maker’s stock after selling 52,398 shares during the quarter. Burney Co. owned 0.14% of NIC worth $1,587,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Amalgamated Bank acquired a new position in NIC during the fourth quarter worth approximately $130,000. Investors Research Corp acquired a new position in NIC during the first quarter worth approximately $26,000. Oregon Public Employees Retirement Fund acquired a new position in NIC during the fourth quarter worth approximately $316,000. Los Angeles Capital Management & Equity Research Inc. increased its position in NIC by 538.9% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 218,605 shares of the software maker’s stock worth $2,728,000 after buying an additional 184,390 shares during the period. Finally, Menta Capital LLC increased its position in NIC by 40.4% during the fourth quarter. Menta Capital LLC now owns 28,851 shares of the software maker’s stock worth $360,000 after buying an additional 8,300 shares during the period. 87.09% of the stock is currently owned by institutional investors.
In other NIC news, CFO Stephen M. Kovzan sold 35,000 shares of NIC stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $16.04, for a total value of $561,400.00. Following the transaction, the chief financial officer now directly owns 230,691 shares in the company, valued at approximately $3,700,283.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.
Several research analysts have commented on the company. Zacks Investment Research lowered NIC from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. BidaskClub raised NIC from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. DA Davidson reaffirmed a “neutral” rating on shares of NIC in a research report on Monday, April 29th. Finally, Loop Capital raised NIC from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. NIC has an average rating of “Hold” and an average target price of $19.50.
Shares of EGOV stock opened at $16.22 on Thursday. NIC Inc. has a twelve month low of $11.76 and a twelve month high of $18.05. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 2.23 and a beta of 0.99. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.04.
NIC (NASDAQ:EGOV) last announced its earnings results on Monday, May 6th. The software maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. NIC had a return on equity of 26.73% and a net margin of 15.80%. The company had revenue of $85.20 million for the quarter, compared to the consensus estimate of $82.07 million. During the same period last year, the business posted $0.23 EPS. The company’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts expect that NIC Inc. will post 0.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 11th will be paid a $0.08 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.32 annualized dividend and a dividend yield of 1.97%. NIC’s dividend payout ratio (DPR) is currently 36.36%.
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NIC Company Profile
NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.
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