Dalton Greiner Hartman Maher & Co. boosted its position in NIC Inc. (NASDAQ:EGOV) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218,162 shares of the software maker’s stock after acquiring an additional 9,461 shares during the quarter. Dalton Greiner Hartman Maher & Co. owned 0.33% of NIC worth $4,876,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in EGOV. Nuveen Asset Management LLC bought a new position in NIC in the second quarter valued at approximately $10,282,000. Columbus Circle Investors bought a new position in NIC in the third quarter valued at approximately $9,597,000. Morgan Stanley increased its stake in NIC by 59.6% in the second quarter. Morgan Stanley now owns 1,122,327 shares of the software maker’s stock valued at $18,004,000 after acquiring an additional 419,274 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in NIC in the third quarter valued at approximately $3,217,000. Finally, Squarepoint Ops LLC increased its stake in NIC by 150.0% in the third quarter. Squarepoint Ops LLC now owns 190,572 shares of the software maker’s stock valued at $3,935,000 after acquiring an additional 114,332 shares during the last quarter. 86.45% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on EGOV shares. ValuEngine cut shares of NIC from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. DA Davidson lifted their price objective on shares of NIC from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research note on Monday, January 6th. BidaskClub cut shares of NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, January 10th. Finally, Barrington Research reissued a “buy” rating and issued a $26.00 price objective on shares of NIC in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $22.25.
NASDAQ EGOV opened at $22.18 on Thursday. The firm’s fifty day moving average price is $22.34 and its two-hundred day moving average price is $20.77. The stock has a market cap of $1.48 billion, a PE ratio of 29.05, a PEG ratio of 1.42 and a beta of 0.85. NIC Inc. has a fifty-two week low of $13.65 and a fifty-two week high of $24.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.68 and a current ratio of 2.68.
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 analysts’ consensus estimates of $0.18 by $0.03. The firm had revenue of $90.39 million for the quarter, compared to analysts’ expectations of $88.49 million. NIC had a net margin of 14.55% and a return on equity of 22.91%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 earnings per share. As a group, sell-side analysts predict that NIC Inc. will post 0.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.44%. NIC’s payout ratio is presently 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.
Featured Story: What is a Derivative?
Receive News & Ratings for NIC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIC and related companies with MarketBeat.com's FREE daily email newsletter.