Invesco Ltd. lifted its holdings in NIC Inc. (NASDAQ:EGOV) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,327 shares of the software maker’s stock after buying an additional 5,227 shares during the quarter. Invesco Ltd. owned 0.49% of NIC worth $5,234,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Bridges Investment Management Inc. raised its holdings in NIC by 1.7% during the second quarter. Bridges Investment Management Inc. now owns 247,302 shares of the software maker’s stock worth $3,967,000 after purchasing an additional 4,078 shares during the last quarter. Hikari Power Ltd acquired a new stake in NIC during the 2nd quarter worth $186,000. Quantinno Capital Management LP grew its holdings in NIC by 201.4% during the 1st quarter. Quantinno Capital Management LP now owns 38,218 shares of the software maker’s stock worth $653,000 after acquiring an additional 25,538 shares during the period. Creative Planning grew its holdings in NIC by 13.9% during the 2nd quarter. Creative Planning now owns 14,982 shares of the software maker’s stock worth $240,000 after acquiring an additional 1,831 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in NIC during the 2nd quarter worth $1,309,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.
In other NIC news, Director William M. Lyons sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $20.96, for a total transaction of $209,600.00. Following the transaction, the director now owns 61,786 shares in the company, valued at approximately $1,295,034.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.
A number of research analysts recently commented on the stock. Barrington Research reiterated a “buy” rating on shares of NIC in a research note on Wednesday, July 3rd. TheStreet upgraded shares of NIC from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. DA Davidson lowered shares of NIC from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Tuesday, September 17th. BidaskClub lowered shares of NIC from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, ValuEngine lowered shares of NIC from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $20.25.
Shares of NASDAQ:EGOV opened at $20.55 on Friday. The company’s 50 day moving average price is $20.67 and its two-hundred day moving average price is $18.15. NIC Inc. has a 12-month low of $11.76 and a 12-month high of $23.45. The firm has a market cap of $1.38 billion, a PE ratio of 23.35, a PEG ratio of 1.56 and a beta of 0.87. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.04.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, July 31st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. NIC had a net margin of 15.10% and a return on equity of 24.45%. The firm had revenue of $91.60 million for the quarter, compared to analyst estimates of $86.45 million. During the same quarter in the prior year, the business posted $0.25 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. On average, research analysts expect that NIC Inc. will post 0.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.56%. NIC’s payout ratio is presently 36.36%.
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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