Strs Ohio decreased its position in NIC Inc. (NASDAQ:EGOV) by 22.3% during the second quarter, Holdings Channel reports. The firm owned 117,300 shares of the company’s stock after selling 33,700 shares during the period. Strs Ohio’s holdings in NIC were worth $2,573,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Aperio Group LLC increased its stake in NIC by 2.5% in the first quarter. Aperio Group LLC now owns 29,642 shares of the company’s stock worth $534,000 after buying an additional 717 shares during the last quarter. Virginia Retirement System bought a new stake in NIC during the first quarter worth $436,000. TIAA CREF Investment Management LLC increased its stake in NIC by 13.9% in the first quarter. TIAA CREF Investment Management LLC now owns 337,771 shares of the company’s stock worth $6,090,000 after buying an additional 41,136 shares during the last quarter. BlackRock Group LTD increased its stake in NIC by 7.1% in the first quarter. BlackRock Group LTD now owns 91,576 shares of the company’s stock worth $1,651,000 after buying an additional 6,095 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in NIC during the first quarter worth $782,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of NIC Inc. (NASDAQ:EGOV) traded down 1.16% on Friday, hitting $23.00. The stock had a trading volume of 118,301 shares. NIC Inc. has a 12-month low of $14.48 and a 12-month high of $23.82. The firm has a market capitalization of $1.52 billion, a P/E ratio of 32.39 and a beta of 0.74. The company has a 50 day moving average of $23.07 and a 200-day moving average of $21.01.
NIC (NASDAQ:EGOV) last issued its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The company had revenue of $80.81 million for the quarter, compared to analysts’ expectations of $80.90 million. NIC had a net margin of 15.61% and a return on equity of 35.87%. NIC’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. Equities analysts predict that NIC Inc. will post $0.71 EPS for the current fiscal year.
A number of equities research analysts have weighed in on EGOV shares. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Monday, September 26th. Maxim Group lifted their price objective on NIC from $18.00 to $23.00 and gave the company a “hold” rating in a report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $22.00.
In other news, insider Jayne Holland sold 2,000 shares of the company’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 sale, the insider now directly owns 94,283 shares of the company’s stock, valued at approximately $2,201,508.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.80% of the stock is currently owned by 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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