BlackRock Inc. increased its position in NIC Inc. (NASDAQ:EGOV) by 139,679.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 7,479,576 shares of the software maker’s stock after buying an additional 7,474,225 shares during the period. BlackRock Inc. owned about 11.30% of NIC worth $151,087,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in NIC during the fourth quarter worth approximately $37,781,000. Copeland Capital Management LLC bought a new stake in NIC during the first quarter worth approximately $10,900,000. FMR LLC boosted its stake in NIC by 136.8% in the first quarter. FMR LLC now owns 743,200 shares of the software maker’s stock worth $15,013,000 after buying an additional 429,400 shares during the period. Vanguard Group Inc. boosted its stake in NIC by 7.8% in the first quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock worth $119,252,000 after buying an additional 427,702 shares during the period. Finally, Columbia Wanger Asset Management LLC boosted its stake in NIC by 20.8% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock worth $37,647,000 after buying an additional 321,052 shares during the period. 92.55% of the stock is currently owned by institutional investors.
NIC Inc. (NASDAQ EGOV) traded up 4.50% on Friday, reaching $16.25. 867,202 shares of the company were exchanged. The firm has a 50-day moving average of $17.20 and a 200 day moving average of $19.92. NIC Inc. has a 12-month low of $15.45 and a 12-month high of $25.90. The firm has a market capitalization of $1.08 billion, a P/E ratio of 19.12 and a beta of 0.42.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. NIC had a net margin of 17.31% and a return on equity of 38.37%. The business had revenue of $85.30 million for the quarter, compared to the consensus estimate of $83.57 million. During the same period last year, the firm earned $0.20 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts predict that NIC Inc. will post $0.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a $0.08 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.97%. NIC’s payout ratio is presently 38.10%.
A number of equities research analysts recently commented on EGOV shares. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. BidaskClub cut shares of NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. DA Davidson started coverage on shares of NIC in a report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price target on the stock. Maxim Group lowered their price target on shares of NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 21st. Finally, Sidoti cut shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $20.00.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $20.38, for a total value of $509,500.00. Following the transaction, the chief operating officer now directly owns 197,531 shares in the company, valued at $4,025,681.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by company insiders.
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.
What are top analysts saying about NIC Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for NIC Inc. and related companies.