Louisiana State Employees Retirement System increased its stake in shares of NIC Inc. (NASDAQ:EGOV) by 1.6% during the first quarter, according to its most recent disclosure with the SEC. The fund 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 also recently modified their holdings of the stock. Capstone Investment Advisors LLC purchased a new stake in NIC during the fourth quarter valued at approximately $219,000. Creative Planning raised its stake in NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock valued at $234,000 after buying an additional 127 shares during the period. Envestnet Asset Management Inc. raised its stake in NIC by 8.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,412 shares of the software maker’s stock valued at $249,000 after buying an additional 814 shares during the period. First Allied Advisory Services Inc. raised its stake in NIC by 2.6% in the fourth quarter. First Allied Advisory Services Inc. now owns 10,473 shares of the software maker’s stock worth $250,000 after buying an additional 264 shares during the period. Finally, Wrapmanager Inc. raised its stake in NIC by 16.5% in the fourth quarter. Wrapmanager Inc. now owns 10,618 shares of the software maker’s stock worth $254,000 after buying an additional 1,507 shares during the period. 85.83% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

Shares of NIC Inc. (NASDAQ:EGOV) traded down 0.48% during mid-day trading on Monday, hitting $20.65. The stock had a trading volume of 252,278 shares. The stock has a market cap of $1.37 billion, a P/E ratio of 24.15 and a beta of 0.61. The company’s 50 day moving average price is $20.86 and its 200 day moving average price is $22.57. NIC Inc. has a 12-month low of $19.21 and a 12-month high of $25.90.

NIC (NASDAQ:EGOV) last posted its earnings results on Monday, May 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. NIC had a net margin of 17.56% and a return on equity of 39.21%. The business had revenue of $83.20 million for the quarter, compared to analyst estimates of $81.99 million. During the same period last year, the business posted $0.19 EPS. NIC’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts predict that NIC Inc. will post $0.73 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th will be paid a $0.08 dividend. The ex-dividend date is Friday, June 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.55%.

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EGOV has been the subject of a number of analyst reports. Avondale Partners lowered NIC from a “market perform” rating to an “underperform” rating and set a $18.00 price target for the company. in a research report on Thursday, February 2nd. They noted that the move was a valuation call. Sidoti upgraded NIC from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Friday, February 3rd. Zacks Investment Research cut NIC from a “strong-buy” rating to a “hold” rating in a report on Friday, February 3rd. Finally, Loop Capital began coverage on NIC in a report on Tuesday, February 14th. They issued a “hold” rating and a $22.00 price objective on the stock. One 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 company. NIC has an average rating of “Hold” and an average price target of $22.83.

In other news, COO Robert W. Knapp sold 25,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the completion of the transaction, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander C. Kemper sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $20.85, for a total transaction of $145,950.00. Following the transaction, the director now directly owns 32,232 shares of the company’s stock, valued at $672,037.20. The disclosure for this sale can be found here. 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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