NIC Inc. (EGOV) Stake Held by QS Investors LLC
QS Investors LLC continued to hold its position in NIC Inc. (NASDAQ:EGOV) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,259 shares of the software maker’s stock at the end of the 2nd quarter. QS Investors LLC owned 0.11% of NIC worth $1,331,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacad Investment Ltd. raised its position in NIC by 350.0% during the second quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock valued at $102,000 after purchasing an additional 4,200 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in NIC during the first quarter valued at about $111,000. SG Americas Securities LLC raised its position in NIC by 7.6% during the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after purchasing an additional 482 shares in the last quarter. Pinebridge Investments L.P. raised its position in NIC by 1.3% during the second quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock valued at $156,000 after purchasing an additional 108 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in NIC during the second quarter valued at about $153,000. Institutional investors and hedge funds own 92.93% of the company’s stock.
NIC Inc. (NASDAQ:EGOV) opened at 17.65 on Wednesday. The company has a 50-day moving average of $16.81 and a 200-day moving average of $18.66. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 20.76 and a beta of 0.41. NIC Inc. has a one year low of $15.45 and a one year high of $25.90.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ 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 net margin of 17.31% and a return on equity of 38.37%. NIC’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. On average, equities analysts forecast that NIC Inc. will post $0.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were issued a $0.08 dividend. The ex-dividend date was Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.81%. NIC’s dividend payout ratio is currently 38.10%.
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EGOV has been the topic of a number of research reports. Zacks Investment Research downgraded NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub upgraded NIC from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. DA Davidson reiterated a “neutral” rating and issued a $18.00 price objective on shares of NIC in a report on Wednesday, September 20th. Imperial Capital upgraded NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Monday, July 17th. Finally, Maxim Group decreased their price objective on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.29.
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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