Tudor Investment Corp ET AL increased its position in shares of NIC Inc. (NASDAQ:EGOV) by 111.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 29,642 shares of the software maker’s stock after buying an additional 15,650 shares during the period. Tudor Investment Corp ET AL’s holdings in NIC were worth $599,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of NIC during the first quarter valued at approximately $111,000. State of Alaska Department of Revenue boosted its stake in shares of NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock valued at $138,000 after buying an additional 140 shares during the last quarter. SG Americas Securities LLC boosted its stake 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 buying an additional 482 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of NIC by 595.1% in the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock valued at $180,000 after buying an additional 7,647 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock valued at $234,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.
NIC Inc. (EGOV) traded up 2.34% during midday trading on Wednesday, hitting $19.65. The stock had a trading volume of 329,302 shares. The company’s 50 day moving average price is $19.50 and its 200-day moving average price is $21.21. NIC Inc. has a 52 week low of $18.00 and a 52 week high of $25.90. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 22.98 and a beta of 0.45.
NIC (NASDAQ:EGOV) last announced its earnings results on Monday, May 1st. The software maker reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $83.20 million during the quarter, compared to analyst estimates of $81.99 million. NIC had a net margin of 17.64% and a return on equity of 39.07%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. Equities analysts anticipate that NIC Inc. will post $0.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, June 2nd. NIC’s payout ratio is 37.65%.
EGOV has been the topic of several research analyst reports. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Thursday, May 4th. Imperial Capital upgraded NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price target on the stock in a report on Monday. BidaskClub cut NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Finally, DA Davidson initiated coverage on NIC in a report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $22.29.
In other news, COO Robert W. Knapp sold 25,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the completion of the sale, the chief operating officer now owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.10% of the company’s stock.
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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