California Public Employees Retirement System decreased its stake in NIC Inc. (NASDAQ:EGOV) by 2.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 124,900 shares of the company’s stock after selling 3,300 shares during the period. California Public Employees Retirement System owned about 0.19% of NIC worth $2,740,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the company. BB&T Corp acquired a new position in NIC during the second quarter valued at about $260,000. Creative Planning boosted its position in NIC by 10.1% in the second quarter. Creative Planning now owns 12,159 shares of the company’s stock valued at $267,000 after buying an additional 1,113 shares during the last quarter. Legal & General Group Plc boosted its position in NIC by 4.5% in the first quarter. Legal & General Group Plc now owns 15,995 shares of the company’s stock valued at $286,000 after buying an additional 684 shares during the last quarter. Lucus Advisors LLC acquired a new position in NIC during the second quarter valued at about $354,000. Finally, Zebra Capital Management LLC boosted its position in NIC by 21.4% in the first quarter. Zebra Capital Management LLC now owns 19,909 shares of the company’s stock valued at $359,000 after buying an additional 3,507 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.
NIC Inc. (NASDAQ:EGOV) traded down 0.82% during midday trading on Thursday, hitting $23.11. The company had a trading volume of 69,989 shares. The company’s 50 day moving average is $23.01 and its 200 day moving average is $20.75. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 32.55 and a beta of 0.71. NIC Inc. has a 12-month low of $14.48 and a 12-month high of $23.82.
NIC (NASDAQ:EGOV) last issued its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. NIC had a net margin of 15.61% and a return on equity of 35.87%. The firm had revenue of $80.81 million for the quarter, compared to analysts’ expectations of $80.90 million. During the same quarter last year, the company posted $0.17 earnings per share. NIC’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that NIC Inc. will post $0.71 EPS for the current fiscal year.
Several research firms have issued reports on EGOV. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Monday. Maxim Group upped their price target on NIC from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $22.00.
In other NIC news, insider Jayne Holland sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $23.35, for a total value of $46,700.00. Following the transaction, the insider now owns 94,283 shares of the company’s stock, valued at $2,201,508.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.80% of the stock is currently owned by company insiders.
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.
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