Financial Counselors Inc. Increases Stake in NIC Inc. (EGOV)
Financial Counselors Inc. lifted its position in NIC Inc. (NASDAQ:EGOV) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 689,992 shares of the software maker’s stock after acquiring an additional 21,084 shares during the period. Financial Counselors Inc. owned 1.04% of NIC worth $13,075,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in EGOV. BlackRock Inc. raised its position in shares of NIC by 139,679.0% in the 1st quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock worth $151,087,000 after acquiring an additional 7,474,225 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of NIC by 53.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock worth $25,604,000 after acquiring an additional 470,181 shares in the last quarter. FMR LLC raised its position in shares of NIC by 136.8% in the 1st quarter. FMR LLC now owns 743,200 shares of the software maker’s stock worth $15,013,000 after acquiring an additional 429,400 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of NIC by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock worth $119,252,000 after buying an additional 427,702 shares during the last quarter. Finally, Columbia Wanger Asset Management LLC grew its stake in shares of NIC by 20.8% in the 1st quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock worth $37,647,000 after buying an additional 321,052 shares during the last quarter. 92.93% of the stock is owned by hedge funds and other institutional investors.
Shares of NIC Inc. (NASDAQ:EGOV) traded up 0.61% during mid-day trading on Friday, reaching $16.60. The company’s stock had a trading volume of 420,121 shares. NIC Inc. has a one year low of $15.45 and a one year high of $25.90. The firm’s 50 day moving average is $16.20 and its 200 day moving average is $19.35. The firm has a market cap of $1.10 billion, a PE ratio of 19.53 and a beta of 0.40.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. NIC had a net margin of 17.31% and a return on equity of 38.37%. The business had revenue of $85.30 million for the quarter, compared to analyst estimates of $83.57 million. During the same period in the previous year, the company earned $0.20 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that NIC Inc. will post $0.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, September 1st. NIC’s dividend payout ratio is currently 38.10%.
EGOV has been the topic of several recent research reports. Zacks Investment Research downgraded NIC from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub downgraded NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. DA Davidson initiated coverage on NIC in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price target on the stock. TheStreet downgraded NIC from a “b-” rating to a “c+” rating in a research note on Monday, August 14th. Finally, Maxim Group cut their price target on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. NIC currently has a consensus rating of “Hold” and a consensus target price of $20.00.
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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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