NIC Inc. (EGOV) Position Held by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky held its stake in shares of NIC Inc. (NASDAQ:EGOV) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,300 shares of the software maker’s stock at the end of the second quarter. Teachers Retirement System of The State of Kentucky’s holdings in NIC were worth $404,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in EGOV. Pacad Investment Ltd. increased its position in NIC by 350.0% during the 2nd quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock valued at $102,000 after buying an additional 4,200 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of NIC in the first quarter valued at about $111,000. SG Americas Securities LLC increased its holdings in shares of NIC by 7.6% in the first 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 period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of NIC in the second quarter valued at about $153,000. Finally, Pinebridge Investments L.P. increased its holdings in shares of NIC by 1.3% in the second 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 period. 92.93% of the stock is currently owned by institutional investors.
Shares of NIC Inc. (NASDAQ:EGOV) opened at 17.80 on Monday. NIC Inc. has a 12-month low of $15.45 and a 12-month high of $25.90. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 20.94 and a beta of 0.41. The company’s 50-day moving average price is $17.08 and its 200 day moving average price is $18.53.
NIC (NASDAQ:EGOV) last released its 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 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 analysts’ expectations of $83.57 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that NIC Inc. will post $0.74 EPS for the current fiscal year.
A number of brokerages have recently weighed in on EGOV. BidaskClub lowered NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. DA Davidson began coverage on NIC in a report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price objective on the stock. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Tuesday, October 3rd. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a report on Monday, August 14th. Finally, Sidoti lowered NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. NIC currently has a consensus rating of “Hold” and an average price target of $19.29.
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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