Crossmark Global Holdings Inc. Buys Shares of 14,820 NIC Inc. (EGOV)
Crossmark Global Holdings Inc. acquired a new position in NIC Inc. (NASDAQ:EGOV) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,820 shares of the software maker’s stock, valued at approximately $254,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pacad Investment Ltd. grew its holdings in shares of NIC by 350.0% in 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. Pinebridge Investments L.P. lifted its position in NIC by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock worth $156,000 after buying an additional 108 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in NIC in the second quarter worth $153,000. First Trust Advisors LP bought a new stake in NIC in the third quarter worth $188,000. Finally, Girard Partners LTD. bought a new stake in NIC in the second quarter worth $208,000. 93.36% of the stock is owned by institutional investors.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded NIC from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Maxim Group reiterated a “hold” rating and set a $16.00 target price on shares of NIC in a research report on Thursday, November 2nd. DA Davidson reiterated a “neutral” rating and set a $18.00 target price on shares of NIC in a research report on Wednesday, September 20th. BidaskClub upgraded NIC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, TheStreet downgraded NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. NIC currently has an average rating of “Hold” and a consensus price target of $19.29.
Shares of NIC Inc. (NASDAQ EGOV) opened at $16.60 on Friday. The firm has a market cap of $1,083.50, a P/E ratio of 20.18, a P/E/G ratio of 2.10 and a beta of 0.38. NIC Inc. has a fifty-two week low of $15.45 and a fifty-two week high of $25.90.
NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Wednesday, November 1st. The software maker reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. NIC had a net margin of 16.59% and a return on equity of 35.88%. The business had revenue of $84.53 million for the quarter, compared to analysts’ expectations of $83.55 million. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. equities research analysts anticipate that NIC Inc. will post 0.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, December 5th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Monday, December 4th. NIC’s payout ratio is presently 39.51%.
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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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