Virtu KCG Holdings LLC Invests $292,000 in NIC Inc. (EGOV)
Virtu KCG Holdings LLC bought a new stake in NIC Inc. (NASDAQ:EGOV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,402 shares of the software maker’s stock, valued at approximately $292,000.
Several other institutional investors have also recently bought and sold shares of EGOV. Pacad Investment Ltd. lifted its holdings in shares of NIC by 350.0% in the 2nd quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock valued at $102,000 after purchasing an additional 4,200 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of NIC in the 1st quarter valued at about $111,000. SG Americas Securities LLC lifted its holdings in shares of NIC by 7.6% in the 1st quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after purchasing an additional 482 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of NIC in the 2nd quarter valued at about $153,000. Finally, Pinebridge Investments L.P. lifted its holdings in shares of NIC by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock valued at $156,000 after purchasing an additional 108 shares during the last quarter. 92.93% of the stock is owned by institutional investors and hedge funds.
Shares of NIC Inc. (NASDAQ:EGOV) opened at 17.80 on Friday. The stock has a market capitalization of $1.18 billion, a P/E ratio of 20.94 and a beta of 0.41. NIC Inc. has a 1-year low of $15.45 and a 1-year high of $25.90. The firm’s 50-day moving average price is $17.08 and its 200 day moving average price is $18.53.
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 the Zacks’ 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 firm had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter last year, the company posted $0.20 earnings per share. NIC’s revenue was up 5.6% on a year-over-year basis. Analysts expect that NIC Inc. will post $0.74 EPS for the current fiscal year.
Several analysts have recently weighed in on EGOV shares. Zacks Investment Research downgraded NIC from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. BidaskClub downgraded NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. TheStreet downgraded NIC from a “b-” rating to a “c+” rating in a report on Monday, August 14th. DA Davidson started coverage on NIC in a report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 target price for the company. Finally, Maxim Group reduced their target price on NIC from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. NIC currently has an average rating of “Hold” and an average price target of $19.29.
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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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