Taylor Hoffman Wealth Management bought a new stake in NIC Inc. (NASDAQ:EGOV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,783 shares of the software maker’s stock, valued at approximately $157,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC bought a new stake in shares of NIC during the 1st quarter worth about $25,000. Investors Research Corp bought a new stake in shares of NIC during the 1st quarter worth about $26,000. NumerixS Investment Technologies Inc boosted its stake in NIC by 477.8% during the 1st quarter. NumerixS Investment Technologies Inc now owns 5,200 shares of the software maker’s stock valued at $88,000 after purchasing an additional 4,300 shares during the period. UMB Bank N A MO bought a new stake in NIC during the 2nd quarter valued at approximately $162,000. Finally, Meeder Asset Management Inc. boosted its stake in NIC by 958.7% during the 1st quarter. Meeder Asset Management Inc. now owns 9,698 shares of the software maker’s stock valued at $166,000 after purchasing an additional 8,782 shares during the period. Hedge funds and other institutional investors own 87.16% of the company’s stock.

In other NIC news, CFO Stephen M. Kovzan sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $16.04, for a total value of $561,400.00. Following the completion of the transaction, the chief financial officer now owns 230,691 shares of the company’s stock, valued at approximately $3,700,283.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

NIC stock traded down $0.01 during trading hours on Monday, hitting $20.51. The stock had a trading volume of 5,989 shares, compared to its average volume of 569,917. The company has a 50-day moving average of $18.31 and a two-hundred day moving average of $17.14. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.34 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 2.77 and a beta of 0.99. NIC Inc. has a fifty-two week low of $11.76 and a fifty-two week high of $23.45.

NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Wednesday, July 31st. The software maker reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $86.45 million. NIC had a return on equity of 24.45% and a net margin of 15.10%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, analysts forecast that NIC Inc. will post 0.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.32 annualized dividend and a yield of 1.56%. NIC’s dividend payout ratio (DPR) is 36.36%.

EGOV has been the subject of several recent analyst reports. DA Davidson upgraded NIC from a “neutral” rating to a “buy” rating and increased their target price for the company from $18.00 to $21.00 in a research note on Thursday, August 1st. BidaskClub upgraded NIC from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Barrington Research restated a “buy” rating on shares of NIC in a research note on Wednesday, July 3rd. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, June 4th. Finally, Loop Capital upgraded NIC from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Six investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $20.25.

About NIC

NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.

Further Reading: Fundamental Analysis and Individual Investors

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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