NIC Inc. (NASDAQ:EGOV) Director Alexander C. Kemper sold 7,000 shares of the company’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $20.85, for a total value of $145,950.00. Following the completion of the transaction, the director now directly owns 32,232 shares of the company’s stock, valued at approximately $672,037.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NIC Inc. (NASDAQ:EGOV) opened at 20.40 on Tuesday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 24.29 and a beta of 0.61. NIC Inc. has a 52 week low of $17.06 and a 52 week high of $25.90. The company’s 50-day moving average price is $21.31 and its 200-day moving average price is $23.25.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. NIC had a return on equity of 39.21% and a net margin of 17.56%. The company earned $78.30 million during the quarter, compared to analysts’ expectations of $76.41 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that NIC Inc. will post $0.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 21st. Shareholders of record on Tuesday, March 7th were given a dividend of $0.08 per share. The ex-dividend date was Friday, March 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.57%.
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EGOV has been the subject of a number of recent analyst reports. Barrington Research lowered NIC from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 3rd. Sidoti lowered NIC from a “buy” rating to a “neutral” rating in a research note on Monday, December 19th. Avondale Partners lowered NIC from a “market perform” rating to an “underperform” rating and set a $18.00 price objective for the company. in a research note on Thursday, February 2nd. They noted that the move was a valuation call. Zacks Investment Research raised NIC from a “sell” rating to a “hold” rating in a research note on Tuesday, February 28th. Finally, Loop Capital initiated coverage on NIC in a research note on Tuesday, February 14th. They issued a “hold” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $23.33.
Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in NIC by 48.1% in the third quarter. JPMorgan Chase & Co. now owns 76,867 shares of the company’s stock worth $1,806,000 after buying an additional 24,970 shares during the last quarter. TimesSquare Capital Management LLC raised its position in NIC by 1.4% in the third quarter. TimesSquare Capital Management LLC now owns 2,273,177 shares of the company’s stock worth $53,420,000 after buying an additional 32,100 shares during the last quarter. Prudential Financial Inc. raised its position in NIC by 79.2% in the third quarter. Prudential Financial Inc. now owns 326,255 shares of the company’s stock worth $7,667,000 after buying an additional 144,230 shares during the last quarter. Neuberger Berman Group LLC raised its position in NIC by 60.5% in the third quarter. Neuberger Berman Group LLC now owns 843,950 shares of the company’s stock worth $19,833,000 after buying an additional 318,174 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in NIC by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,052,462 shares of the company’s stock worth $49,054,000 after buying an additional 7,373 shares during the last quarter. 85.83% of the stock is owned by institutional investors.
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.
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