Teachers Advisors LLC Sells 7,158 Shares of NIC Inc. (EGOV)
Teachers Advisors LLC lowered its stake in shares of NIC Inc. (NASDAQ:EGOV) by 6.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,805 shares of the software maker’s stock after selling 7,158 shares during the period. Teachers Advisors LLC owned 0.17% of NIC worth $2,279,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of NIC by 15.5% in the first quarter. Bank of New York Mellon Corp now owns 881,005 shares of the software maker’s stock valued at $17,795,000 after buying an additional 118,114 shares in the last quarter. FMR LLC boosted its position in shares of NIC by 136.8% in the first quarter. FMR LLC now owns 743,200 shares of the software maker’s stock valued at $15,013,000 after buying an additional 429,400 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of NIC by 4.5% in the first quarter. Ameriprise Financial Inc. now owns 656,433 shares of the software maker’s stock valued at $13,260,000 after buying an additional 28,513 shares in the last quarter. Rockefeller Financial Services Inc. boosted its position in shares of NIC by 3.9% in the first quarter. Rockefeller Financial Services Inc. now owns 595,123 shares of the software maker’s stock valued at $12,021,000 after buying an additional 22,236 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new position in shares of NIC during the first quarter valued at $10,900,000. Institutional investors own 92.55% of the company’s stock.
Shares of NIC Inc. (NASDAQ EGOV) traded up 1.447% during mid-day trading on Friday, reaching $15.775. The company’s stock had a trading volume of 103,111 shares. The company’s 50 day moving average price is $17.28 and its 200-day moving average price is $19.98. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 18.559 and a beta of 0.42. NIC Inc. has a 1-year low of $15.45 and a 1-year high of $25.90.
NIC (NASDAQ:EGOV) last issued its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. NIC had a return on equity of 38.37% and a net margin of 17.31%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. Analysts predict that NIC Inc. will post $0.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, September 1st. NIC’s dividend payout ratio (DPR) is 38.10%.
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EGOV has been the subject of several recent research reports. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, May 4th. Maxim Group dropped their price objective on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 21st. Imperial Capital raised NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price objective on the stock in a report on Monday, July 17th. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a report on Monday. Finally, BidaskClub lowered NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $20.00.
In other news, COO Robert W. Knapp sold 25,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.10% 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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