SG Americas Securities LLC Acquires 8,186 Shares of NIC Inc. (EGOV)
SG Americas Securities LLC raised its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 120.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,007 shares of the software maker’s stock after purchasing an additional 8,186 shares during the quarter. SG Americas Securities LLC’s holdings in NIC were worth $284,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in EGOV. BlackRock Inc. increased its stake in NIC by 139,679.0% during the 1st quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock valued at $151,087,000 after purchasing an additional 7,474,225 shares in the last quarter. FMR LLC increased its stake in NIC by 136.8% during the 1st quarter. FMR LLC now owns 743,200 shares of the software maker’s stock valued at $15,013,000 after purchasing an additional 429,400 shares in the last quarter. Vanguard Group Inc. increased its stake in NIC by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock valued at $119,252,000 after purchasing an additional 427,702 shares in the last quarter. Columbia Wanger Asset Management LLC increased its stake in NIC by 20.8% during the 1st quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock valued at $37,647,000 after purchasing an additional 321,052 shares in the last quarter. Finally, Strs Ohio bought a new stake in NIC during the 2nd quarter valued at $5,827,000. Institutional investors and hedge funds own 92.93% of the company’s stock.
A number of analysts have commented on EGOV shares. DA Davidson started coverage on shares of NIC in a research note on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price target for the company. BidaskClub lowered shares of NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Zacks Investment Research lowered shares of NIC from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Imperial Capital upgraded shares of NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price target for the company in a research note on Monday, July 17th. Finally, Maxim Group decreased their price target on shares of NIC from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. NIC currently has an average rating of “Hold” and a consensus price target of $20.00.
NIC Inc. (NASDAQ:EGOV) opened at 16.95 on Friday. The firm’s 50-day moving average is $16.28 and its 200-day moving average is $19.17. NIC Inc. has a 12-month low of $15.45 and a 12-month high of $25.90. The stock has a market capitalization of $1.12 billion, a P/E ratio of 19.94 and a beta of 0.40.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The firm had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same period last year, the company earned $0.20 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. Analysts predict that NIC Inc. will post $0.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.89%. NIC’s payout ratio is presently 38.10%.
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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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