Schwab Charles Investment Management Inc. Sells 7,132 Shares of NIC Inc. (EGOV)

Schwab Charles Investment Management Inc. lowered its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm owned 267,620 shares of the software maker’s stock after selling 7,132 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in NIC were worth $4,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of EGOV. Pacad Investment Ltd. boosted its stake in NIC by 350.0% during the 2nd quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock worth $102,000 after purchasing an additional 4,200 shares during the period. Pinebridge Investments L.P. boosted its stake in NIC by 1.3% during 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 acquired a new stake in NIC during the 3rd quarter worth $188,000. Garner Asset Management Corp purchased a new position in NIC during the 2nd quarter worth $211,000. Finally, Profund Advisors LLC raised its position in NIC by 14.9% during the 2nd quarter. Profund Advisors LLC now owns 12,121 shares of the software maker’s stock worth $230,000 after buying an additional 1,569 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

NIC Inc. (EGOV) opened at $17.15 on Thursday. The company has a market cap of $1,130.00, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 2.13 and a beta of 0.38. NIC Inc. has a 12-month low of $15.45 and a 12-month high of $25.70.

NIC (NASDAQ:EGOV) last announced its quarterly earnings data on Wednesday, November 1st. The software maker reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The company had revenue of $84.53 million during the quarter, compared to the consensus estimate of $83.55 million. NIC had a net margin of 16.42% and a return on equity of 36.89%. NIC’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. analysts forecast that NIC Inc. will post 0.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Tuesday, December 5th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.87%. NIC’s dividend payout ratio is presently 39.02%.

A number of equities analysts have commented on EGOV shares. Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, October 3rd. Maxim Group restated a “hold” rating and set a $16.00 price objective on shares of NIC in a research report on Thursday, November 2nd. DA Davidson restated a “neutral” rating and set a $18.00 price objective on shares of NIC in a research report on Wednesday, September 20th. Finally, BidaskClub downgraded shares of NIC from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. NIC currently has an average rating of “Hold” and an average target price of $19.43.

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NIC 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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Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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