Swiss National Bank raised its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 2.1% in the second quarter, Holdings Channel reports. The institutional investor owned 123,900 shares of the software maker’s stock after buying an additional 2,600 shares during the quarter. Swiss National Bank’s holdings in NIC were worth $1,987,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of NIC by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,257,494 shares of the software maker’s stock worth $28,173,000 after acquiring an additional 56,159 shares during the period. Creative Planning boosted its holdings in NIC by 7.4% in the 1st quarter. Creative Planning now owns 13,151 shares of the software maker’s stock valued at $225,000 after purchasing an additional 907 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new position in NIC in the 1st quarter valued at about $234,000. BNP Paribas Arbitrage SA boosted its holdings in NIC by 624.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 14,829 shares of the software maker’s stock valued at $253,000 after purchasing an additional 12,782 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in NIC in the 1st quarter valued at about $407,000. Institutional investors own 87.16% of the company’s stock.
In other NIC news, Director William M. Lyons sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $20.96, for a total value of $209,600.00. Following the sale, the director now directly owns 61,786 shares of the company’s stock, valued at approximately $1,295,034.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.
Shares of NASDAQ:EGOV traded down $0.31 during trading hours on Friday, reaching $20.94. The stock had a trading volume of 2,175 shares, compared to its average volume of 345,107. NIC Inc. has a 1 year low of $11.76 and a 1 year high of $23.45. The firm’s 50 day moving average is $19.93 and its 200-day moving average is $17.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.69 and a current ratio of 2.69. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 2.89 and a beta of 0.90.
NIC (NASDAQ:EGOV) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. NIC had a net margin of 15.10% and a return on equity of 24.45%. The company had revenue of $91.60 million for the quarter, compared to the consensus estimate of $86.45 million. During the same period in the prior year, the firm posted $0.25 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts forecast that NIC Inc. will post 0.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, September 5th. NIC’s dividend payout ratio is presently 36.36%.
A number of brokerages have commented on EGOV. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Tuesday, June 4th. Barrington Research reissued a “buy” rating on shares of NIC in a research report on Wednesday, July 3rd. TheStreet raised shares of NIC from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. ValuEngine downgraded shares of NIC from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, DA Davidson raised shares of NIC from a “neutral” rating to a “buy” rating and increased their price objective for the company from $18.00 to $21.00 in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $20.25.
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.
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