Alambic Investment Management L.P. Has $973,000 Stake in NIC Inc. (EGOV)
Alambic Investment Management L.P. cut its stake in NIC Inc. (NASDAQ:EGOV) by 0.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,400 shares of the company’s stock after selling 20 shares during the period. Alambic Investment Management L.P. owned about 0.06% of NIC worth $973,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in EGOV. Brown Capital Management LLC raised its position in NIC by 0.4% in the second quarter. Brown Capital Management LLC now owns 8,739,624 shares of the company’s stock valued at $191,747,000 after buying an additional 30,800 shares in the last quarter. Vanguard Group Inc. raised its position in NIC by 3.5% in the second quarter. Vanguard Group Inc. now owns 5,170,990 shares of the company’s stock valued at $113,450,000 after buying an additional 175,297 shares in the last quarter. BlackRock Fund Advisors raised its position in NIC by 1.3% in the second quarter. BlackRock Fund Advisors now owns 3,932,397 shares of the company’s stock valued at $86,277,000 after buying an additional 49,829 shares in the last quarter. Columbia Wanger Asset Management LLC raised its position in NIC by 222.2% in the second quarter. Columbia Wanger Asset Management LLC now owns 2,334,626 shares of the company’s stock valued at $51,222,000 after buying an additional 1,609,971 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in NIC by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,594 shares of the company’s stock valued at $43,957,000 after buying an additional 19,200 shares in the last quarter. 87.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of NIC Inc. (NASDAQ:EGOV) traded up 0.80% during midday trading on Friday, hitting $25.10. 399,614 shares of the stock were exchanged. The company has a market cap of $1.66 billion, a PE ratio of 33.03 and a beta of 0.55. NIC Inc. has a 12 month low of $14.48 and a 12 month high of $25.90. The stock has a 50 day moving average price of $24.76 and a 200-day moving average price of $23.36.
NIC (NASDAQ:EGOV) last released its earnings results on Thursday, November 3rd. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.06. The company had revenue of $80.37 million for the quarter, compared to analyst estimates of $80.04 million. NIC had a net margin of 16.47% and a return on equity of 37.12%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. On average, analysts predict that NIC Inc. will post $0.78 EPS for the current year.
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EGOV has been the topic of several analyst reports. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Monday, November 7th. Barrington Research lowered shares of NIC from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 3rd. Imperial Capital boosted their price objective on shares of NIC from $21.00 to $23.00 and gave the company an “in-line” rating in a report on Friday, November 18th. Finally, Sidoti lowered shares of NIC from a “buy” rating to a “neutral” rating in a report on Monday, December 19th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $22.50.
In other NIC news, Director Ross C. Hartley sold 69,800 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $24.21, for a total transaction of $1,689,858.00. Following the sale, the director now directly owns 71,506 shares in the company, valued at approximately $1,731,160.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ross C. Hartley sold 85,174 shares of the stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $24.41, for a total transaction of $2,079,097.34. Following the sale, the director now owns 71,506 shares in the company, valued at $1,745,461.46. The disclosure for this sale can be found here. 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.
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