NIC Inc. (NASDAQ:EGOV) was the recipient of some unusual options trading on Wednesday. Traders bought 1,934 put options on the stock. This represents an increase of 775% compared to the typical daily volume of 221 put options.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC bought a new stake in shares of NIC during the 3rd quarter worth $183,000. First Trust Advisors LP bought a new stake in shares of NIC during the 3rd quarter worth $188,000. Commerce Bank bought a new stake in shares of NIC during the 4th quarter worth $199,000. American Capital Management Inc. bought a new stake in shares of NIC during the 4th quarter worth $205,000. Finally, Ramsey Quantitative Systems bought a new stake in shares of NIC during the 4th quarter worth $237,000. 98.66% of the stock is owned by institutional investors and hedge funds.
NIC (NASDAQ EGOV) opened at $14.15 on Friday. The stock has a market capitalization of $927.90, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 1.83 and a beta of 0.56. NIC has a one year low of $12.65 and a one year high of $22.40.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $83.47 million during the quarter, compared to analyst estimates of $81.01 million. NIC had a return on equity of 33.25% and a net margin of 15.34%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $0.20 EPS. sell-side analysts predict that NIC will post 0.76 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, March 5th. NIC’s payout ratio is currently 41.56%.
NIC declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 8th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Several analysts recently commented on the company. Zacks Investment Research cut NIC from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. TheStreet cut NIC from a “b-” rating to a “c” rating in a research report on Thursday, March 8th. Loop Capital lowered their target price on NIC to $14.00 and set a “hold” rating on the stock in a research report on Friday, February 2nd. BidaskClub upgraded NIC from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, Barrington Research restated a “hold” rating on shares of NIC in a research report on Friday, March 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.33.
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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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