Renaissance Technologies LLC increased its holdings in NIC Inc. (NASDAQ:EGOV) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,144,858 shares of the software maker’s stock after purchasing an additional 29,898 shares during the period. Renaissance Technologies LLC owned approximately 1.73% of NIC worth $21,695,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. BlackRock Inc. lifted its position in NIC by 139,679.0% during the 1st quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock worth $151,087,000 after acquiring an additional 7,474,225 shares during the last quarter. Bank of New York Mellon Corp lifted its position in NIC by 53.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock worth $25,604,000 after acquiring an additional 470,181 shares during the last quarter. FMR LLC lifted its position in NIC by 136.8% during the 1st quarter. FMR LLC now owns 743,200 shares of the software maker’s stock worth $15,013,000 after acquiring an additional 429,400 shares during the last quarter. Vanguard Group Inc. lifted its position in NIC by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock worth $119,252,000 after acquiring an additional 427,702 shares during the last quarter. Finally, Strs Ohio acquired a new position in NIC during the 2nd quarter worth $5,827,000. Hedge funds and other institutional investors own 92.93% of the company’s stock.
A number of research firms have weighed in on EGOV. BidaskClub lowered shares of NIC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. DA Davidson began coverage on shares of NIC in a research report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 target price for the company. Zacks Investment Research lowered shares of NIC from a “buy” rating to a “hold” rating in a research report on Monday. TheStreet lowered shares of NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Finally, Sidoti lowered shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research report on Friday, July 21st. Two research 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. The company has a consensus rating of “Hold” and an average target price of $19.29.
NIC Inc. (NASDAQ EGOV) opened at 17.65 on Wednesday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 20.76 and a beta of 0.41. NIC Inc. has a 12 month low of $15.45 and a 12 month high of $25.90. The stock’s 50 day moving average is $16.81 and its 200-day moving average is $18.66.
NIC (NASDAQ:EGOV) last posted its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $83.57 million. NIC had a net margin of 17.31% and a return on equity of 38.37%. NIC’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 EPS. On average, analysts anticipate that NIC Inc. will post $0.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Friday, September 1st. NIC’s dividend payout ratio (DPR) is 38.10%.
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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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