NIC Inc. (EGOV) Shares Bought by Alps Advisors Inc.

Alps Advisors Inc. increased its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 22.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,090 shares of the software maker’s stock after buying an additional 5,124 shares during the quarter. Alps Advisors Inc.’s holdings in NIC were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Pinebridge Investments L.P. grew its holdings in shares of NIC by 1.3% during the second quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock valued at $156,000 after buying an additional 108 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of NIC by 0.6% during the second quarter. Arizona State Retirement System now owns 32,487 shares of the software maker’s stock valued at $616,000 after buying an additional 200 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of NIC by 3.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 14,650 shares of the software maker’s stock valued at $278,000 after buying an additional 520 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of NIC by 1.2% during the second quarter. Texas Permanent School Fund now owns 45,445 shares of the software maker’s stock valued at $861,000 after buying an additional 529 shares in the last quarter. Finally, Creative Planning grew its stake in NIC by 9.3% in the second quarter. Creative Planning now owns 12,641 shares of the software maker’s stock valued at $240,000 after purchasing an additional 1,077 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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Shares of NIC Inc. (NASDAQ:EGOV) opened at $16.10 on Monday. The stock has a market capitalization of $1,066.93, a PE ratio of 19.88, a PEG ratio of 2.07 and a beta of 0.38. NIC Inc. has a 52 week low of $15.45 and a 52 week high of $25.90.

NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, November 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $84.53 million during the quarter, compared to the consensus estimate of $83.55 million. NIC had a return on equity of 36.89% and a net margin of 16.42%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS. equities analysts expect that NIC Inc. will post 0.78 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, December 5th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.32 annualized dividend and a dividend yield of 1.99%. NIC’s dividend payout ratio (DPR) is presently 39.51%.

A number of brokerages have commented on EGOV. Zacks Investment Research upgraded NIC from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Maxim Group restated a “hold” rating and issued a $16.00 target price on shares of NIC in a research note on Thursday, November 2nd. DA Davidson restated a “neutral” rating and issued a $18.00 target price on shares of NIC in a research note on Wednesday, September 20th. BidaskClub upgraded NIC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, TheStreet downgraded NIC from a “b-” rating to a “c+” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $19.29.

About NIC

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.

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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