33,113 Shares in NIC Inc. (EGOV) Acquired by Karp Capital Management Corp
Karp Capital Management Corp acquired a new position in shares of NIC Inc. (NASDAQ:EGOV) during the first quarter, Holdings Channel reports. The fund acquired 33,113 shares of the software maker’s stock, valued at approximately $669,000.
Other institutional investors have also bought and sold shares of the company. Numeric Investors LLC boosted its position in NIC by 168.6% in the fourth quarter. Numeric Investors LLC now owns 129,200 shares of the software maker’s stock worth $3,088,000 after buying an additional 81,100 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in NIC by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 33,760 shares of the software maker’s stock worth $807,000 after buying an additional 2,120 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in NIC during the fourth quarter worth about $430,000. Two Sigma Investments LP boosted its position in NIC by 1.4% in the fourth quarter. Two Sigma Investments LP now owns 156,006 shares of the software maker’s stock worth $3,729,000 after buying an additional 2,141 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in NIC by 8.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,412 shares of the software maker’s stock worth $249,000 after buying an additional 814 shares during the last quarter. Institutional investors own 92.93% of the company’s stock.
Shares of NIC Inc. (NASDAQ:EGOV) opened at 19.80 on Tuesday. NIC Inc. has a one year low of $19.50 and a one year high of $25.90. The stock has a market capitalization of $1.31 billion, a PE ratio of 23.16 and a beta of 0.53. The firm has a 50 day moving average price of $20.53 and a 200 day moving average price of $22.06.
NIC (NASDAQ:EGOV) last posted its earnings results on Monday, May 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 $83.20 million during the quarter, compared to analysts’ expectations of $81.99 million. NIC had a return on equity of 39.07% and a net margin of 17.64%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. Analysts predict that NIC Inc. will post $0.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $0.32 annualized dividend and a yield of 1.62%. NIC’s dividend payout ratio (DPR) is 37.65%.
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Separately, Zacks Investment Research upgraded NIC from a “sell” rating to a “hold” rating in a report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. NIC has an average rating of “Hold” and an average price target of $22.83.
In other NIC news, Director Alexander C. Kemper sold 7,000 shares of the firm’s stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $20.85, for a total transaction of $145,950.00. Following the completion of the sale, the director now owns 32,232 shares of the company’s stock, valued at $672,037.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Robert W. Knapp sold 25,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the sale, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
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.
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