Thrivent Financial For Lutherans Boosts Position in NIC Inc. (EGOV)
Thrivent Financial For Lutherans increased its stake in shares of NIC Inc. (NASDAQ:EGOV) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,710 shares of the software maker’s stock after purchasing an additional 2,670 shares during the quarter. Thrivent Financial For Lutherans owned approximately 0.06% of NIC worth $715,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of NIC by 8.9% during the second quarter. BlackRock Inc. now owns 8,145,068 shares of the software maker’s stock worth $154,348,000 after purchasing an additional 665,492 shares during the period. Vanguard Group Inc. boosted its holdings in shares of NIC by 7.8% during the first quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock worth $119,252,000 after purchasing an additional 427,702 shares during the period. TimesSquare Capital Management LLC boosted its holdings in shares of NIC by 0.4% during the second quarter. TimesSquare Capital Management LLC now owns 2,138,172 shares of the software maker’s stock worth $40,518,000 after purchasing an additional 8,000 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of NIC by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,066,804 shares of the software maker’s stock worth $41,749,000 after purchasing an additional 14,342 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of NIC by 3.7% during the second quarter. Conestoga Capital Advisors LLC now owns 1,700,988 shares of the software maker’s stock worth $32,234,000 after purchasing an additional 60,970 shares during the period. Institutional investors and hedge funds own 92.93% of the company’s stock.
EGOV has been the subject of several research reports. DA Davidson initiated coverage on shares of NIC in a report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price target for the company. BidaskClub cut shares of NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Imperial Capital upgraded shares of NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Monday, July 17th. Finally, Maxim Group decreased their price target on shares of NIC from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 21st. Two 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. The stock currently has a consensus rating of “Hold” and an average price target of $19.29.
NIC Inc. (NASDAQ EGOV) opened at 17.45 on Thursday. The company’s 50-day moving average is $16.85 and its 200 day moving average is $18.65. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 20.53 and a beta of 0.41. NIC Inc. has a 12 month low of $15.45 and a 12 month high of $25.90.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The firm had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same quarter in the prior year, the firm posted $0.20 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Equities analysts forecast that NIC Inc. will post $0.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Friday, September 1st. NIC’s dividend payout ratio (DPR) is currently 38.10%.
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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