BNP Paribas Arbitrage SA Sells 1,072 Shares of NIC Inc. (EGOV)

BNP Paribas Arbitrage SA lowered its position in NIC Inc. (NASDAQ:EGOV) by 7.5% during the first quarter, Holdings Channel reports. The institutional investor owned 13,162 shares of the software maker’s stock after selling 1,072 shares during the period. BNP Paribas Arbitrage SA’s holdings in NIC were worth $266,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock worth $138,000 after buying an additional 140 shares in the last quarter. Advisors Asset Management Inc. boosted its position in NIC by 595.1% in the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock worth $180,000 after buying an additional 7,647 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in NIC during the fourth quarter worth about $219,000. Creative Planning boosted its position in NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock worth $234,000 after buying an additional 127 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in NIC by 8.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,412 shares of the software maker’s stock worth $249,000 after buying an additional 814 shares in the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

Shares of NIC Inc. (NASDAQ:EGOV) opened at 19.95 on Friday. NIC Inc. has a 1-year low of $19.50 and a 1-year high of $25.90. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 23.33 and a beta of 0.53. The stock has a 50 day moving average of $20.63 and a 200-day moving average of $22.17.

NIC (NASDAQ:EGOV) last issued its earnings results on Monday, May 1st. The software maker reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $83.20 million for the quarter, compared to the consensus estimate of $81.99 million. NIC had a net margin of 17.64% and a return on equity of 39.07%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. Analysts forecast that NIC Inc. will post $0.73 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, June 2nd. NIC’s dividend payout ratio (DPR) is presently 37.65%.

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Separately, Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $22.83.

In other news, COO Robert W. Knapp sold 25,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the sale, the chief operating officer now owns 197,531 shares in the company, valued at approximately $4,025,681.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alexander C. Kemper sold 7,000 shares of the business’s stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $20.85, for a total transaction of $145,950.00. Following the sale, the director now owns 32,232 shares in the company, valued at approximately $672,037.20. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

NIC Company Profile

NIC Inc is a provider of digital government services that help governments use technology to provide services to businesses and citizens. The Company operates through Outsourced Portals segment. The Company offers its services through two channels: primary outsourced portal businesses, and software and services businesses.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:EGOV”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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