BNP Paribas Arbitrage SA boosted its stake in NIC Inc. (NASDAQ:EGOV) by 60.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,060 shares of the software maker’s stock after acquiring an additional 7,898 shares during the period. BNP Paribas Arbitrage SA’s holdings in NIC were worth $399,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Gotham Asset Management LLC boosted its holdings in NIC by 18.0% in the first quarter. Gotham Asset Management LLC now owns 293,849 shares of the software maker’s stock valued at $5,936,000 after acquiring an additional 44,856 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of NIC by 4.5% during the 1st quarter. Ameriprise Financial Inc. now owns 656,433 shares of the software maker’s stock worth $13,260,000 after buying an additional 28,513 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of NIC by 8.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 272,483 shares of the software maker’s stock worth $5,505,000 after buying an additional 20,473 shares in the last quarter. Koch Industries Inc. bought a new position in shares of NIC during the 1st quarter worth approximately $349,000. Finally, Karp Capital Management Corp bought a new position in shares of NIC during the 1st quarter worth approximately $669,000. Institutional investors and hedge funds own 92.93% of the company’s stock.
EGOV has been the topic of a number of research analyst reports. Zacks Investment Research cut NIC from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. BidaskClub cut NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. DA Davidson initiated coverage on NIC in a report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price target on the stock. TheStreet cut NIC from a “b-” rating to a “c+” rating in a report on Monday, August 14th. Finally, Maxim Group cut their price target on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $20.00.
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NIC Inc. (EGOV) opened at 16.95 on Friday. The company has a market capitalization of $1.12 billion, a PE ratio of 19.94 and a beta of 0.40. The firm’s 50 day moving average price is $16.28 and its 200-day moving average price is $19.17. NIC Inc. has a 12-month low of $15.45 and a 12-month high of $25.90.
NIC (NASDAQ:EGOV) last posted its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The firm had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same period in the previous year, the firm earned $0.20 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that NIC Inc. will post $0.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.89%. NIC’s dividend payout ratio (DPR) is presently 38.10%.
NIC Company Profile
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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