Kaizen Advisory LLC Invests $894,000 in NIC Inc. (EGOV) Stock

Kaizen Advisory LLC bought a new position in NIC Inc. (NASDAQ:EGOV) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 60,413 shares of the software maker’s stock, valued at approximately $894,000.

A number of other institutional investors have also recently made changes to their positions in EGOV. BlackRock Inc. raised its holdings in NIC by 4.2% in the second quarter. BlackRock Inc. now owns 9,754,378 shares of the software maker’s stock worth $151,681,000 after purchasing an additional 396,537 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of NIC during the second quarter worth about $5,947,000. Conestoga Capital Advisors LLC grew its stake in shares of NIC by 16.2% during the third quarter. Conestoga Capital Advisors LLC now owns 2,007,903 shares of the software maker’s stock worth $29,717,000 after acquiring an additional 279,660 shares during the last quarter. First Trust Advisors LP grew its stake in shares of NIC by 5.2% during the second quarter. First Trust Advisors LP now owns 4,495,235 shares of the software maker’s stock worth $69,901,000 after acquiring an additional 223,996 shares during the last quarter. Finally, Spark Investment Management LLC grew its stake in shares of NIC by 83.6% during the second quarter. Spark Investment Management LLC now owns 389,800 shares of the software maker’s stock worth $6,061,000 after acquiring an additional 177,500 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

A number of equities research analysts have recently weighed in on EGOV shares. ValuEngine lowered NIC from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 19th. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a research note on Monday, October 1st. BidaskClub lowered NIC from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Loop Capital boosted their price target on NIC to $17.00 and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Finally, Barrington Research restated a “hold” rating on shares of NIC in a research note on Monday, August 6th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. NIC presently has an average rating of “Hold” and an average price target of $18.33.

Shares of NASDAQ EGOV opened at $14.00 on Friday. The company has a market capitalization of $931.84 million, a P/E ratio of 15.73, a PEG ratio of 1.77 and a beta of 0.71. NIC Inc. has a 52 week low of $12.65 and a 52 week high of $18.90.

NIC (NASDAQ:EGOV) last issued its earnings results on Thursday, November 1st. The software maker reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.07. The firm had revenue of $87.03 million for the quarter, compared to analyst estimates of $83.06 million. NIC had a return on equity of 33.33% and a net margin of 16.94%. NIC’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. As a group, equities analysts expect that NIC Inc. will post 0.81 EPS for the current year.

About NIC

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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Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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