U S Global Investors Inc. purchased a new position in shares of NIC Inc. (NASDAQ:EGOV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 24,911 shares of the software maker’s stock, valued at approximately $472,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Gotham Asset Management LLC raised its holdings in NIC by 18.0% during the 1st quarter. Gotham Asset Management LLC now owns 293,849 shares of the software maker’s stock worth $5,936,000 after purchasing an additional 44,856 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in NIC by 53.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock worth $25,604,000 after purchasing an additional 470,181 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in 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 purchasing an additional 20,473 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in NIC by 3.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 91,902 shares of the software maker’s stock worth $1,736,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Financial Counselors Inc. raised its holdings in NIC by 3.2% during the 2nd quarter. Financial Counselors Inc. now owns 689,992 shares of the software maker’s stock worth $13,075,000 after purchasing an additional 21,084 shares during the last quarter. Hedge funds and other institutional investors own 92.93% of the company’s stock.
NIC Inc. (NASDAQ EGOV) traded up 0.29% during mid-day trading on Friday, hitting $17.50. 549,335 shares of the stock traded hands. NIC Inc. has a 1-year low of $15.45 and a 1-year high of $25.90. The firm has a market capitalization of $1.16 billion, a P/E ratio of 20.59 and a beta of 0.41. The company has a 50-day moving average of $16.93 and a 200 day moving average of $18.61.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. NIC had a return on equity of 38.37% and a net margin of 17.31%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.20 earnings per share. On average, equities research analysts anticipate that NIC Inc. will post $0.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.83%. NIC’s payout ratio is 38.10%.
Several research analysts have issued reports on EGOV shares. Zacks Investment Research lowered shares of NIC from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. BidaskClub upgraded shares of NIC from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. DA Davidson restated a “neutral” rating and set a $18.00 price target on shares of NIC in a report on Wednesday, September 20th. Imperial Capital upgraded shares of NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Monday, July 17th. Finally, Maxim Group lowered their price target on shares of NIC from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $19.29.
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.
Want to see what other hedge funds are holding EGOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIC Inc. (NASDAQ:EGOV).
Receive News & Ratings for NIC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.