Tudor Investment Corp ET AL Decreases Holdings in NIC Inc. (EGOV)
Tudor Investment Corp ET AL reduced its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 33.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,781 shares of the software maker’s stock after selling 9,861 shares during the quarter. Tudor Investment Corp ET AL’s holdings in NIC were worth $375,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. US Bancorp DE boosted its stake in shares of NIC by 25.2% in the first quarter. US Bancorp DE now owns 14,391 shares of the software maker’s stock valued at $290,000 after purchasing an additional 2,900 shares during the period. Bank of New York Mellon Corp boosted its stake 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 purchasing an additional 118,114 shares during the period. Comerica Bank boosted its stake in shares of NIC by 4.3% in the first quarter. Comerica Bank now owns 68,839 shares of the software maker’s stock valued at $1,490,000 after purchasing an additional 2,813 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of NIC by 96.1% in the first quarter. UBS Asset Management Americas Inc. now owns 22,160 shares of the software maker’s stock valued at $448,000 after purchasing an additional 10,862 shares during the period. Finally, Karp Capital Management Corp purchased a new position in shares of NIC in the first quarter valued at $669,000. Institutional investors own 92.93% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of NIC from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Maxim Group set a $16.00 target price on shares of NIC and gave the company a “hold” rating in a research note on Thursday, August 3rd. DA Davidson assumed coverage on shares of NIC in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 target price for the company. BidaskClub upgraded shares of NIC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Sidoti downgraded shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. NIC has an average rating of “Hold” and an average target price of $19.29.
NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS 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 company had revenue of $85.30 million for the quarter, compared to the consensus estimate of $83.57 million. During the same quarter last year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.83%. NIC’s dividend payout ratio (DPR) is presently 38.10%.
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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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