Gotham Asset Management LLC raised its stake in NIC Inc. (NASDAQ:EGOV) by 18.0% during the first quarter, Holdings Channel reports. The fund owned 293,849 shares of the software maker’s stock after buying an additional 44,856 shares during the period. Gotham Asset Management LLC’s holdings in NIC were worth $5,936,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Creative Planning increased its stake in shares of NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock valued at $234,000 after buying an additional 127 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of 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 valued at $138,000 after buying an additional 140 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of NIC by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock valued at $511,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System increased its stake in shares of NIC by 1.3% in the first quarter. Arizona State Retirement System now owns 32,287 shares of the software maker’s stock valued at $652,000 after buying an additional 400 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after buying an additional 482 shares during the last quarter. Hedge funds and other institutional investors own 92.93% of the company’s stock.

NIC Inc. (NASDAQ EGOV) traded down 0.75% on Monday, reaching $19.85. The company’s stock had a trading volume of 13,643 shares. NIC Inc. has a 52 week low of $19.35 and a 52 week high of $25.90. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 23.22 and a beta of 0.53. The company has a 50 day moving average of $20.48 and a 200 day moving average of $22.02.

NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Monday, May 1st. The software maker reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. NIC had a return on equity of 39.07% and a net margin of 17.64%. The business had revenue of $83.20 million for the quarter, compared to analyst estimates of $81.99 million. During the same quarter in the prior year, the company earned $0.19 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. On average, 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 was paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Friday, June 2nd. NIC’s dividend payout ratio (DPR) is presently 37.65%.

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

In related news, COO Robert W. Knapp sold 25,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the transaction, the chief operating officer now owns 197,531 shares of the company’s stock, valued at $4,025,681.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.

About NIC

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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Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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