PNC Financial Services Group Inc. decreased its stake in shares of NIC Inc. (NASDAQ:EGOV) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,895 shares of the software maker’s stock after selling 2,117 shares during the quarter. PNC Financial Services Group Inc. owned about 0.16% of NIC worth $2,007,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in EGOV. BlackRock Inc. boosted its holdings in NIC by 8.9% in the second quarter. BlackRock Inc. now owns 8,145,068 shares of the software maker’s stock worth $154,348,000 after acquiring an additional 665,492 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of NIC by 7.8% in the first quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock worth $119,252,000 after acquiring an additional 427,702 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in shares of NIC by 0.4% in the second quarter. TimesSquare Capital Management LLC now owns 2,138,172 shares of the software maker’s stock worth $40,518,000 after acquiring an additional 8,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of NIC by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,066,804 shares of the software maker’s stock worth $41,749,000 after acquiring an additional 14,342 shares during the last quarter. Finally, Columbia Wanger Asset Management LLC grew its stake in shares of NIC by 20.8% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock worth $37,647,000 after acquiring an additional 321,052 shares during the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.

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Several equities analysts have recently issued reports on EGOV shares. Zacks Investment Research lowered NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub cut shares of NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. TheStreet downgraded shares of NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. DA Davidson assumed coverage on shares of NIC in a research report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price objective on the stock. Finally, Maxim Group cut their price objective on shares of NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. NIC currently has an average rating of “Hold” and an average target price of $19.71.

Shares of NIC Inc. (NASDAQ:EGOV) opened at 17.15 on Tuesday. NIC Inc. has a 12-month low of $15.45 and a 12-month high of $25.90. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 20.18 and a beta of 0.41. The firm has a 50 day moving average price of $16.55 and a 200-day moving average price of $18.82.

NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The business 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 company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. On average, equities analysts expect that NIC Inc. will post $0.74 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were issued 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 dividend yield of 1.87%. NIC’s dividend payout ratio (DPR) is currently 38.10%.

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.

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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