NIC Inc. (EGOV) Shares Bought by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System boosted its stake in shares of NIC Inc. (NASDAQ:EGOV) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,300 shares of the software maker’s stock after buying an additional 400 shares during the period. Louisiana State Employees Retirement System’s holdings in NIC were worth $511,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in EGOV. Capstone Asset Management Co. raised its position in shares of NIC by 3.3% in the first quarter. Capstone Asset Management Co. now owns 18,505 shares of the software maker’s stock worth $374,000 after buying an additional 585 shares during the last quarter. WCM Investment Management CA raised its position in shares of NIC by 44.6% in the first quarter. WCM Investment Management CA now owns 83,180 shares of the software maker’s stock worth $1,680,000 after buying an additional 25,640 shares during the last quarter. Creative Planning raised its position in shares of NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock worth $234,000 after buying an additional 127 shares during the last quarter. Teachers Advisors LLC raised its position in shares of NIC by 12.1% in the fourth quarter. Teachers Advisors LLC now owns 119,963 shares of the software maker’s stock worth $2,867,000 after buying an additional 12,936 shares during the last quarter. Finally, Norges Bank bought a new position in shares of NIC during the fourth quarter worth $37,781,000. 85.83% of the stock is owned by institutional investors.
NIC Inc. (NASDAQ:EGOV) opened at 20.65 on Friday. NIC Inc. has a 52 week low of $18.53 and a 52 week high of $25.90. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 24.15 and a beta of 0.61. The company has a 50-day moving average of $20.80 and a 200-day moving average of $22.66.
NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Monday, May 1st. The software maker reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $81.99 million. NIC had a net margin of 17.56% and a return on equity of 39.21%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $0.19 earnings per share. On average, equities analysts forecast that NIC Inc. will post $0.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, June 2nd.
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A number of equities analysts recently weighed in on EGOV shares. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Thursday, May 4th. Avondale Partners lowered shares of NIC from a “market perform” rating to an “underperform” rating and set a $18.00 target price for the company. in a research note on Thursday, February 2nd. They noted that the move was a valuation call. Loop Capital started coverage on shares of NIC in a research note on Tuesday, February 14th. They issued a “hold” rating and a $22.00 target price for the company. Finally, Sidoti raised shares of NIC from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $22.83.
In other NIC news, Director Alexander C. Kemper sold 7,000 shares of the firm’s stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $20.85, for a total value of $145,950.00. Following the completion of the sale, the director now directly owns 32,232 shares in the company, valued at $672,037.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.80% of the company’s stock.
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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