Royce & Associates LP increased its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 1,015.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,970 shares of the software maker’s stock after buying an additional 20,911 shares during the period. Royce & Associates LP’s holdings in NIC were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Morgan Stanley increased its stake in NIC by 52.0% in the third quarter. Morgan Stanley now owns 550,344 shares of the software maker’s stock valued at $8,144,000 after purchasing an additional 188,386 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in NIC by 45.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,965 shares of the software maker’s stock valued at $62,000 after purchasing an additional 1,543 shares during the last quarter. Quantamental Technologies LLC acquired a new position in NIC in the fourth quarter valued at $79,000. Arizona State Retirement System increased its stake in NIC by 6.2% in the fourth quarter. Arizona State Retirement System now owns 102,516 shares of the software maker’s stock valued at $1,279,000 after purchasing an additional 5,962 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in NIC by 20.4% in the fourth quarter. Rhumbline Advisers now owns 188,330 shares of the software maker’s stock valued at $2,350,000 after purchasing an additional 31,933 shares during the last quarter. Hedge funds and other institutional investors own 87.00% of the company’s stock.
EGOV has been the subject of several analyst reports. BidaskClub lowered NIC from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Zacks Investment Research lowered NIC from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. DA Davidson restated a “neutral” rating on shares of NIC in a research note on Monday, April 29th. Loop Capital upgraded NIC from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Finally, Barrington Research set a $26.00 price target on NIC and gave the stock a “buy” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $19.50.
Shares of EGOV stock traded up $0.02 during trading hours on Monday, reaching $16.06. The company had a trading volume of 257,854 shares, compared to its average volume of 395,366. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.04. NIC Inc. has a twelve month low of $11.76 and a twelve month high of $18.05. The stock has a market capitalization of $1.08 billion, a P/E ratio of 18.25, a P/E/G ratio of 2.20 and a beta of 0.96. The company’s fifty day simple moving average is $16.15.
NIC (NASDAQ:EGOV) last posted its earnings results on Monday, May 6th. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. NIC had a return on equity of 26.73% and a net margin of 15.80%. The business had revenue of $85.20 million during the quarter, compared to analyst estimates of $82.07 million. During the same quarter last year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Research analysts forecast that NIC Inc. will post 0.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 11th were paid a $0.08 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.99%. NIC’s dividend payout ratio (DPR) is currently 36.36%.
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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