Principal Financial Group Inc. boosted its holdings in NIC Inc. (NASDAQ:EGOV) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 510,929 shares of the software maker’s stock after buying an additional 1,404 shares during the period. Principal Financial Group Inc. owned 0.77% of NIC worth $9,682,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of EGOV. Russell Investments Group Ltd. boosted its stake in NIC by 183.5% in the 1st quarter. Russell Investments Group Ltd. now owns 164,953 shares of the software maker’s stock worth $3,332,000 after buying an additional 106,774 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in NIC by 7.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 89,102 shares of the software maker’s stock worth $1,795,000 after buying an additional 6,354 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in NIC by 595.1% in the 1st quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock worth $180,000 after buying an additional 7,647 shares during the last quarter. American Century Companies Inc. boosted its stake in NIC by 10.5% in the 1st quarter. American Century Companies Inc. now owns 41,047 shares of the software maker’s stock worth $829,000 after buying an additional 3,915 shares during the last quarter. Finally, US Bancorp DE boosted its stake in NIC by 25.2% in the 1st quarter. US Bancorp DE now owns 14,391 shares of the software maker’s stock worth $290,000 after buying an additional 2,900 shares during the last quarter. 92.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NIC Inc. (EGOV) opened at 17.05 on Tuesday. The company’s 50 day moving average price is $16.32 and its 200 day moving average price is $19.07. NIC Inc. has a one year low of $15.45 and a one year high of $25.90. The stock has a market capitalization of $1.13 billion, a P/E ratio of 20.06 and a beta of 0.40.

NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. NIC had a return on equity of 38.37% and a net margin of 17.31%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 EPS. On average, equities analysts expect that NIC Inc. will post $0.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.88%. NIC’s payout ratio is 38.10%.

Several research firms have recently weighed in on EGOV. DA Davidson reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of NIC in a research note on Wednesday, September 20th. Zacks Investment Research lowered NIC from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. BidaskClub raised NIC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a research note on Monday, August 14th. Finally, Maxim Group set a $16.00 price objective on NIC and gave the company a “hold” rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.71.

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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.

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Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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