Capital Fund Management S.A. cut its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 22.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,290 shares of the software maker’s stock after selling 5,203 shares during the period. Capital Fund Management S.A.’s holdings in NIC were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EGOV. Russell Investments Group Ltd. boosted its position in shares of NIC by 183.5% during the first quarter. Russell Investments Group Ltd. now owns 164,953 shares of the software maker’s stock valued at $3,332,000 after buying an additional 106,774 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of NIC by 7.7% during the first quarter. Great West Life Assurance Co. Can now owns 89,102 shares of the software maker’s stock valued at $1,795,000 after buying an additional 6,354 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of NIC by 595.1% during the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock valued at $180,000 after buying an additional 7,647 shares during the last quarter. American Century Companies Inc. boosted its position in shares of NIC by 10.5% during the first quarter. American Century Companies Inc. now owns 41,047 shares of the software maker’s stock valued at $829,000 after buying an additional 3,915 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of NIC by 25.2% during the first quarter. US Bancorp DE now owns 14,391 shares of the software maker’s stock valued at $290,000 after buying an additional 2,900 shares during the last quarter. 92.93% of the stock is currently owned by institutional investors.

Shares of NIC Inc. (NASDAQ:EGOV) opened at 16.80 on Tuesday. The stock has a market capitalization of $1.11 billion, a PE ratio of 19.76 and a beta of 0.40. NIC Inc. has a 52-week low of $15.45 and a 52-week high of $25.90. The company’s 50 day moving average price is $16.30 and its 200 day moving average price is $19.10.

NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $85.30 million for the quarter, compared to analyst estimates of $83.57 million. During the same period in the prior year, the company posted $0.20 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that NIC Inc. will post $0.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, September 1st. NIC’s dividend payout ratio is currently 38.10%.

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Several equities research analysts recently commented on EGOV shares. Zacks Investment Research cut NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub raised NIC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. 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 research report on Monday, July 17th. Maxim Group dropped their price objective on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. Finally, Sidoti cut NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. NIC presently has an average rating of “Hold” and an average target price of $20.00.

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.

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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