Texas Permanent School Fund increased its position in shares of NIC Inc. (NASDAQ:EGOV) by 0.8% during the third quarter, Holdings Channel reports. The institutional investor owned 47,244 shares of the company’s stock after buying an additional 375 shares during the period. Texas Permanent School Fund owned 0.07% of NIC worth $1,110,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Great West Life Assurance Co. Can raised its position in NIC by 6.3% in the third quarter. Great West Life Assurance Co. Can now owns 84,345 shares of the company’s stock worth $1,979,000 after buying an additional 4,989 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of NIC by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the company’s stock worth $644,000 after buying an additional 300 shares during the last quarter. Alpha Windward LLC acquired a new stake in shares of NIC during the third quarter worth $453,000. Nisa Investment Advisors LLC boosted its stake in shares of NIC by 22.5% in the third quarter. Nisa Investment Advisors LLC now owns 41,400 shares of the company’s stock worth $973,000 after buying an additional 7,600 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of NIC by 3.9% in the third quarter. Conestoga Capital Advisors LLC now owns 1,515,620 shares of the company’s stock worth $35,617,000 after buying an additional 57,195 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.
Shares of NIC Inc. (NASDAQ:EGOV) traded up 0.60% during mid-day trading on Friday, reaching $25.25. 83,403 shares of the company were exchanged. NIC Inc. has a 12 month low of $14.48 and a 12 month high of $25.50. The stock has a market capitalization of $1.67 billion, a P/E ratio of 33.22 and a beta of 0.53. The firm has a 50-day moving average price of $23.38 and a 200 day moving average price of $22.36.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.06. The firm had revenue of $80.37 million for the quarter, compared to analyst estimates of $80.04 million. NIC had a net margin of 16.47% and a return on equity of 37.12%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. Equities research analysts anticipate that NIC Inc. will post $0.78 EPS for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 16th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 14th. This is a positive change from NIC’s previous special dividend of $0.55.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a report on Friday, September 23rd. Imperial Capital raised their target price on shares of NIC from $21.00 to $23.00 and gave the stock an “in-line” rating in a report on Friday, November 18th. Finally, Maxim Group raised their target price on shares of NIC from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $22.50.
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.