NIC Inc. (NASDAQ:EGOV) COO Robert W. Knapp sold 25,000 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $20.38, for a total transaction of $509,500.00. Following the completion of the transaction, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NIC Inc. (NASDAQ:EGOV) traded up 0.120% during mid-day trading on Friday, reaching $20.775. 38,471 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $20.85 and a 200-day moving average price of $22.59. The stock has a market cap of $1.38 billion, a PE ratio of 24.298 and a beta of 0.61. NIC Inc. has a 12 month low of $19.21 and a 12 month high of $25.90.
NIC (NASDAQ:EGOV) last issued its earnings results on Monday, May 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $83.20 million for the quarter, compared to analyst estimates of $81.99 million. NIC had a net margin of 17.56% and a return on equity of 39.21%. NIC’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 earnings per share. On average, analysts predict that NIC Inc. will post $0.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, June 2nd.
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Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, May 4th. Loop Capital assumed coverage on shares of NIC in a research report on Tuesday, February 14th. They issued a “hold” rating and a $22.00 price target for the company. Sidoti raised shares of NIC from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Friday, February 3rd. Finally, Avondale Partners lowered shares of NIC from a “market perform” rating to an “underperform” rating and set a $18.00 price target for the company. in a research report on Thursday, February 2nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.83.
Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of NIC by 19.3% in the first quarter. Goldman Sachs Group Inc. now owns 361,488 shares of the software maker’s stock valued at $7,302,000 after buying an additional 58,468 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of NIC by 111.8% in the first quarter. Tudor Investment Corp ET AL now owns 29,642 shares of the software maker’s stock valued at $599,000 after buying an additional 15,650 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of NIC by 18.0% in the first quarter. Gotham Asset Management LLC now owns 293,849 shares of the software maker’s stock valued at $5,936,000 after buying an additional 44,856 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of NIC during the first quarter valued at about $490,000. Finally, State Street Corp raised its position in shares of NIC by 3.8% in the first quarter. State Street Corp now owns 1,498,416 shares of the software maker’s stock valued at $30,264,000 after buying an additional 54,897 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.
NIC Company Profile
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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