Alps Advisors Inc. lifted its position in shares of NIC Inc. (NASDAQ:EGOV) by 21.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,977 shares of the software maker’s stock after acquiring an additional 5,887 shares during the quarter. Alps Advisors Inc. owned 0.05% of NIC worth $452,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of NIC during the 1st quarter worth about $954,000. Dupont Capital Management Corp boosted its stake in shares of NIC by 200.3% during the 1st quarter. Dupont Capital Management Corp now owns 78,740 shares of the software maker’s stock worth $1,047,000 after acquiring an additional 52,520 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of NIC during the 4th quarter worth about $483,000. Gotham Asset Management LLC boosted its stake in shares of NIC by 10.7% during the 4th quarter. Gotham Asset Management LLC now owns 421,570 shares of the software maker’s stock worth $6,998,000 after acquiring an additional 40,813 shares in the last quarter. Finally, Vident Investment Advisory LLC boosted its stake in shares of NIC by 78.8% during the 4th quarter. Vident Investment Advisory LLC now owns 34,176 shares of the software maker’s stock worth $567,000 after acquiring an additional 15,060 shares in the last quarter. 98.78% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on EGOV shares. Zacks Investment Research raised shares of NIC from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Loop Capital lowered their target price on shares of NIC to $14.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. BidaskClub raised shares of NIC from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Barrington Research reissued a “hold” rating on shares of NIC in a research note on Friday, March 9th. Finally, TheStreet lowered shares of NIC from a “b-” rating to a “c” rating in a research note on Thursday, March 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.33.
Shares of NIC stock opened at $15.60 on Wednesday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 20.06, a P/E/G ratio of 2.02 and a beta of 0.52. NIC Inc. has a twelve month low of $15.20 and a twelve month high of $15.55.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Monday, April 30th. The software maker reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The firm had revenue of $86.73 million for the quarter, compared to analyst estimates of $87.51 million. NIC had a net margin of 15.63% and a return on equity of 32.69%. NIC’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.21 EPS. equities analysts anticipate that NIC Inc. will post 0.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 19th. Investors of record on Tuesday, June 5th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Monday, June 4th. NIC’s dividend payout ratio is presently 41.56%.
NIC declared that its Board of Directors has authorized a share buyback plan on Thursday, March 8th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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