41,246 Shares in NIC Inc. (EGOV) Acquired by Emerald Acquisition Ltd.
Emerald Acquisition Ltd. purchased a new stake in shares of NIC Inc. (NASDAQ:EGOV) during the second quarter, Holdings Channel reports. The fund purchased 41,246 shares of the company’s stock, valued at approximately $905,000. Emerald Acquisition Ltd. owned approximately 0.06% of NIC as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Creative Planning boosted its stake in NIC by 10.1% in the second quarter. Creative Planning now owns 12,159 shares of the company’s stock valued at $267,000 after buying an additional 1,113 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in NIC by 124.2% in the second quarter. BNP Paribas Arbitrage SA now owns 19,226 shares of the company’s stock valued at $422,000 after buying an additional 10,650 shares in the last quarter. Royal Bank of Canada boosted its stake in NIC by 3.2% in the first quarter. Royal Bank of Canada now owns 761,673 shares of the company’s stock valued at $13,733,000 after buying an additional 23,863 shares in the last quarter. Renaissance Technologies LLC boosted its stake in NIC by 13.5% in the first quarter. Renaissance Technologies LLC now owns 1,337,955 shares of the company’s stock valued at $24,123,000 after buying an additional 159,008 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in NIC by 103.2% in the first quarter. Goldman Sachs Group Inc. now owns 127,328 shares of the company’s stock valued at $2,296,000 after buying an additional 64,660 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.
NIC Inc. (NASDAQ:EGOV) traded up 0.97% during trading on Wednesday, hitting $22.92. 24,900 shares of the stock traded hands. The stock has a market cap of $1.51 billion, a PE ratio of 32.28 and a beta of 0.74. NIC Inc. has a one year low of $14.48 and a one year high of $23.82. The company has a 50-day moving average price of $23.09 and a 200 day moving average price of $21.12.
NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. NIC had a return on equity of 35.87% and a net margin of 15.61%. The company had revenue of $80.81 million for the quarter, compared to the consensus estimate of $80.90 million. During the same quarter last year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts expect that NIC Inc. will post $0.71 earnings per share for the current year.
A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a report on Friday, September 23rd. Maxim Group increased their target price on shares of NIC from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.00.
In other NIC news, insider Jayne Holland sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $23.35, for a total transaction of $46,700.00. Following the transaction, the insider now owns 94,283 shares in the company, valued at $2,201,508.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.80% of the company’s stock.
NIC Inc is a provider of digital government services that help governments use technology. The Company operates through Outsourced Portals segment. The Other Software & Services category includes its subsidiaries that provide software development and services, other than outsourced portal services, to state and local governments, as well as federal agencies.
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.