Spark Investment Management LLC increased its position in NIC Inc. (NASDAQ:EGOV) by 54.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 102,300 shares of the software maker’s stock after buying an additional 36,100 shares during the period. Spark Investment Management LLC owned 0.15% of NIC worth $2,066,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Creative Planning boosted its stake in 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 in the last quarter. State of Alaska Department of Revenue boosted its stake in NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock worth $138,000 after buying an additional 140 shares in the last quarter. Zebra Capital Management LLC boosted its stake in NIC by 0.6% in the fourth quarter. Zebra Capital Management LLC now owns 25,356 shares of the software maker’s stock worth $606,000 after buying an additional 163 shares in the last quarter. First Allied Advisory Services Inc. boosted 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 in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in NIC by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock worth $511,000 after buying an additional 400 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

NIC Inc. (NASDAQ:EGOV) traded up 0.49% during trading on Friday, reaching $20.45. 730,979 shares of the company were exchanged. NIC Inc. has a one year low of $19.50 and a one year high of $25.90. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 23.92 and a beta of 0.61. The firm’s 50 day moving average price is $20.86 and its 200-day moving average price is $22.49.

NIC (NASDAQ:EGOV) last released its quarterly earnings data on Monday, May 1st. The software maker reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $83.20 million for the quarter, compared to the consensus estimate of $81.99 million. NIC had a net margin of 17.56% and a return on equity of 39.21%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. On average, equities research analysts predict that NIC Inc. will post $0.73 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, June 2nd.

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A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded 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 cut 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 assumed coverage on shares of NIC in a research note on Tuesday, February 14th. They set a “hold” rating and a $22.00 target price for the company. Finally, Sidoti upgraded 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.83.

In other news, Director Alexander C. Kemper sold 7,000 shares of the company’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 sale, the director now directly owns 32,232 shares in the company, valued at $672,037.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.38, for a total value of $509,500.00. Following the sale, the chief operating officer now owns 197,531 shares in the company, valued at $4,025,681.78. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.

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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