Rhumbline Advisers lifted its stake in NIC Inc. (NASDAQ:EGOV) by 16.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 153,951 shares of the software maker’s stock after purchasing an additional 21,669 shares during the quarter. Rhumbline Advisers owned 0.23% of NIC worth $2,556,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in EGOV. First Trust Advisors LP acquired a new position in shares of NIC in the 3rd quarter valued at $188,000. Aperio Group LLC boosted its position in NIC by 12.5% during the 3rd quarter. Aperio Group LLC now owns 35,804 shares of the software maker’s stock worth $614,000 after acquiring an additional 3,977 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in NIC during the 3rd quarter worth about $254,000. Victory Capital Management Inc. boosted its position in NIC by 18.8% during the 3rd quarter. Victory Capital Management Inc. now owns 41,509 shares of the software maker’s stock worth $712,000 after acquiring an additional 6,566 shares during the period. Finally, Principal Financial Group Inc. boosted its position in NIC by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 534,655 shares of the software maker’s stock worth $9,170,000 after acquiring an additional 23,726 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.
Shares of NIC stock opened at $14.20 on Monday. NIC Inc. has a one year low of $12.65 and a one year high of $22.40. The firm has a market capitalization of $941.16, a PE ratio of 18.44, a PEG ratio of 1.86 and a beta of 0.56.
NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.16. NIC had a return on equity of 33.25% and a net margin of 15.34%. The company had revenue of $83.47 million during the quarter, compared to the consensus estimate of $81.01 million. During the same period last year, the business earned $0.20 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. sell-side analysts predict that NIC Inc. will post 0.76 EPS for the current year.
NIC announced that its board has authorized a share buyback program on Thursday, March 8th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the software maker to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders 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 dividend yield of 2.25%. The ex-dividend date is Monday, March 5th. NIC’s dividend payout ratio (DPR) is presently 41.56%.
EGOV has been the subject of a number of research reports. BidaskClub lowered NIC from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, December 25th. Loop Capital decreased their price objective on NIC to $14.00 and set a “hold” rating for the company in a research report on Friday, February 2nd. Barrington Research restated a “hold” rating on shares of NIC in a research report on Friday, March 9th. Finally, TheStreet lowered NIC from a “b-” rating to a “c” rating in a research report on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company 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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