Taylor Hoffman Wealth Management increased its stake in shares of NIC Inc. (NASDAQ:EGOV) by 35.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,239 shares of the software maker’s stock after buying an additional 3,456 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in NIC were worth $273,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of EGOV. WINTON GROUP Ltd acquired a new stake in NIC during the second quarter worth approximately $347,000. Dalton Greiner Hartman Maher & Co. acquired a new stake in NIC during the second quarter worth approximately $2,995,000. Bessemer Group Inc. grew its position in NIC by 4.4% during the second quarter. Bessemer Group Inc. now owns 194,421 shares of the software maker’s stock worth $3,119,000 after buying an additional 8,200 shares in the last quarter. Weybosset Research & Management LLC grew its position in NIC by 1.3% during the second quarter. Weybosset Research & Management LLC now owns 362,155 shares of the software maker’s stock worth $5,809,000 after buying an additional 4,655 shares in the last quarter. Finally, Arizona State Retirement System grew its position in NIC by 1.0% during the second quarter. Arizona State Retirement System now owns 103,796 shares of the software maker’s stock worth $1,665,000 after buying an additional 1,006 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director William M. Lyons sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $20.96, for a total value of $209,600.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.
Shares of EGOV stock traded up $0.31 during trading hours on Friday, reaching $22.91. The company’s stock had a trading volume of 174,500 shares, compared to its average volume of 392,943. NIC Inc. has a fifty-two week low of $11.76 and a fifty-two week high of $24.38. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.68 and a beta of 0.89. The firm’s 50 day simple moving average is $20.95 and its 200-day simple moving average is $18.75. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.03.
NIC (NASDAQ:EGOV) last issued its earnings results on Wednesday, October 30th. The software maker reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. NIC had a return on equity of 22.91% and a net margin of 14.55%. The business had revenue of $90.39 million during the quarter, compared to analyst estimates of $88.49 million. During the same period in the previous year, the company posted $0.24 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts predict that NIC Inc. will post 0.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, December 3rd. NIC’s payout ratio is 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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