Public Employees Retirement System of Ohio grew its position in NIC Inc. (NASDAQ:EGOV) by 60.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 63,549 shares of the software maker’s stock after purchasing an additional 23,913 shares during the period. Public Employees Retirement System of Ohio’s holdings in NIC were worth $1,019,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of EGOV. Bridge City Capital LLC lifted its holdings in shares of NIC by 0.5% in the 2nd quarter. Bridge City Capital LLC now owns 125,349 shares of the software maker’s stock worth $2,011,000 after acquiring an additional 619 shares during the last quarter. Isthmus Partners LLC lifted its holdings in NIC by 1.0% during the 2nd quarter. Isthmus Partners LLC now owns 71,404 shares of the software maker’s stock worth $1,145,000 after buying an additional 713 shares in the last quarter. Mason Street Advisors LLC lifted its holdings in NIC by 3.5% during the 1st quarter. Mason Street Advisors LLC now owns 21,400 shares of the software maker’s stock worth $366,000 after buying an additional 727 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its holdings in NIC by 5.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 16,730 shares of the software maker’s stock worth $286,000 after buying an additional 928 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in NIC by 1.0% during the 2nd 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. 86.57% of the stock is owned by institutional investors and hedge funds.
In other news, Director William M. Lyons sold 10,000 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $1,295,034.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.
A number of research firms have issued reports on EGOV. ValuEngine lowered shares of NIC from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Barrington Research reiterated a “buy” rating on shares of NIC in a report on Wednesday, July 3rd. BidaskClub lowered shares of NIC from a “buy” rating to a “hold” rating in a report on Friday. DA Davidson lowered shares of NIC from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a report on Tuesday. Finally, Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. NIC presently has an average rating of “Buy” and a consensus target price of $20.25.
Shares of EGOV traded down $0.32 during midday trading on Friday, reaching $20.52. The stock had a trading volume of 3,531 shares, compared to its average volume of 402,181. NIC Inc. has a 1-year low of $11.76 and a 1-year high of $23.45. The company’s fifty day simple moving average is $20.85 and its two-hundred day simple moving average is $17.75. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 2.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.69 and a quick ratio of 2.69.
NIC (NASDAQ:EGOV) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $0.21 earnings per share 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 business had revenue of $91.60 million for the quarter, compared to analyst estimates of $86.45 million. During the same period last year, the business earned $0.25 EPS. The company’s revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts forecast that NIC Inc. will post 0.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.56%. 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.
Featured Story: Is a Roth IRA right for you?
Want to see what other hedge funds are holding EGOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIC Inc. (NASDAQ:EGOV).
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.