GSA Capital Partners LLP cut its position in NIC Inc. (NASDAQ:EGOV) by 84.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 14,052 shares of the company’s stock after selling 74,719 shares during the period. GSA Capital Partners LLP’s holdings in NIC were worth $308,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of NIC by 13.5% in the first quarter. Renaissance Technologies LLC now owns 1,337,955 shares of the company’s stock worth $24,123,000 after buying an additional 159,008 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of NIC by 103.2% in the first quarter. Goldman Sachs Group Inc. now owns 127,328 shares of the company’s stock worth $2,296,000 after buying an additional 64,660 shares during the last quarter. Pacific Global Investment Management CO bought a new position in shares of NIC during the first quarter worth about $1,630,000. Zebra Capital Management LLC boosted its position in shares of NIC by 21.4% in the first quarter. Zebra Capital Management LLC now owns 19,909 shares of the company’s stock worth $359,000 after buying an additional 3,507 shares during the last quarter. Finally, Menta Capital LLC boosted its position in shares of NIC by 119.7% in the first quarter. Menta Capital LLC now owns 25,806 shares of the company’s stock worth $465,000 after buying an additional 14,060 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.
NIC Inc. (NASDAQ:EGOV) traded down 1.06% during midday trading on Monday, reaching $23.42. The company had a trading volume of 51,568 shares. The stock has a market cap of $1.55 billion, a P/E ratio of 32.99 and a beta of 0.71. NIC Inc. has a 12 month low of $14.48 and a 12 month high of $23.82. The firm has a 50-day moving average of $23.02 and a 200-day moving average of $20.60.
NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $80.81 million for the quarter, compared to the consensus estimate of $80.90 million. NIC had a return on equity of 35.87% and a net margin of 15.61%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. On average, equities analysts expect that NIC Inc. will post $0.71 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut NIC from a “buy” rating to a “hold” rating in a report on Friday. Maxim Group increased their target price on NIC from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.00.
In other news, insider Jayne Holland sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $23.35, for a total transaction of $46,700.00. Following the completion of the sale, the insider now owns 94,283 shares in the company, valued at $2,201,508.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.80% of the company’s stock.
NIC Company Profile
NIC Inc is a provider of digital government services that help governments use technology. The Company operates through Outsourced Portals segment. The Other Software & Services category includes its subsidiaries that provide software development and services, other than outsourced portal services, to state and local governments, as well as federal agencies.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.