NIC Inc. (EGOV) Shares Bought by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. lifted its holdings in NIC Inc. (NASDAQ:EGOV) by 61.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,107 shares of the software maker’s stock after buying an additional 10,290 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in NIC were worth $465,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in EGOV. Pacad Investment Ltd. boosted its stake 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 worth $102,000 after buying an additional 4,200 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of NIC in the 2nd quarter worth approximately $153,000. Pinebridge Investments L.P. raised 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 worth $156,000 after purchasing an additional 108 shares during the period. First Trust Advisors LP bought a new stake in shares of NIC in the 3rd quarter worth approximately $188,000. Finally, Girard Partners LTD. bought a new stake in shares of NIC in the 2nd quarter worth approximately $208,000. Hedge funds and other institutional investors own 93.36% of the company’s stock.
Shares of NIC Inc. (NASDAQ EGOV) opened at $16.90 on Friday. The company has a market cap of $1,100.07, a P/E ratio of 20.49, a P/E/G ratio of 2.13 and a beta of 0.38. NIC Inc. has a 1-year low of $15.45 and a 1-year high of $25.90.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, December 5th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.32 dividend on an annualized basis and a yield of 1.89%. NIC’s payout ratio is 39.51%.
A number of research firms recently commented on EGOV. Maxim Group reaffirmed a “hold” rating and issued a $16.00 price target on shares of NIC in a report on Thursday, November 2nd. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, October 3rd. BidaskClub raised shares of NIC from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. DA Davidson reaffirmed a “neutral” rating and issued a $18.00 price target on shares of NIC in a report on Wednesday, September 20th. Finally, TheStreet cut shares of NIC from a “b-” rating to a “c+” rating in a report on Monday, August 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price 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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