Taylor Hoffman Wealth Management increased its stake in NIC Inc. (NASDAQ:EGOV) by 35.3% during the third quarter, HoldingsChannel reports. The firm owned 13,239 shares of the software maker’s stock after acquiring an additional 3,456 shares during the period. Taylor Hoffman Wealth Management’s holdings in NIC were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of the stock. Advisors Preferred LLC bought a new stake in NIC during the 2nd quarter valued at $26,000. UMB Bank N A MO bought a new stake in NIC during the 2nd quarter valued at $162,000. Janus Henderson Group PLC bought a new stake in NIC during the 2nd quarter valued at $168,000. Hikari Power Ltd bought a new stake in NIC during the 2nd quarter valued at $186,000. Finally, First Mercantile Trust Co. bought a new position in shares of NIC in the third quarter worth $206,000. 87.50% of the stock is currently owned by institutional investors.
Shares of NIC stock traded up $0.31 during trading on Friday, hitting $22.91. The stock had a trading volume of 174,500 shares, compared to its average volume of 392,943. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average is $20.95 and its 200 day moving average is $18.75. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 1.68 and a beta of 0.89. NIC Inc. has a 12 month low of $11.76 and a 12 month high of $24.38.
NIC (NASDAQ:EGOV) last posted its earnings results on Wednesday, October 30th. The software maker reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The company had revenue of $90.39 million during the quarter, compared to analyst estimates of $88.49 million. NIC had a net margin of 14.55% and a return on equity of 22.91%. NIC’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. As a group, equities analysts expect that NIC Inc. will post 0.74 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.40%. NIC’s dividend payout ratio is currently 36.36%.
Several research analysts have recently weighed in on EGOV shares. BidaskClub cut shares of NIC from a “buy” rating to a “hold” rating in a report on Friday, September 20th. DA Davidson upped their price target on shares of NIC from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. ValuEngine cut shares of NIC from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday, November 5th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $26.00 price target on shares of NIC in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $22.25.
In other news, Director William M. Lyons sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $20.96, for a total transaction of $209,600.00. Following the completion of the sale, the director now directly owns 61,786 shares in the company, valued at $1,295,034.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.
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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