Investors Purchase High Volume of NIC Put Options (EGOV)
NIC Inc. (NASDAQ:EGOV) was the target of unusually large options trading on Friday. Traders purchased 2,354 put options on the stock. This represents an increase of Infinity compared to the typical daily volume of 0 put options.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EGOV. Pacad Investment Ltd. lifted its stake in shares of NIC by 350.0% in the 2nd quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock valued at $102,000 after purchasing an additional 4,200 shares during the period. SG Americas Securities LLC raised its stake in NIC by 7.6% during 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. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in NIC during the second quarter valued at $153,000. Pinebridge Investments L.P. raised its stake in NIC by 1.3% during the second quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock valued at $156,000 after buying an additional 108 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in NIC during the third quarter valued at $188,000. Institutional investors own 93.46% of the company’s stock.
Several equities analysts recently issued reports on EGOV shares. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, October 3rd. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Maxim Group cut their price objective on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. DA Davidson reiterated a “neutral” rating and issued a $18.00 price objective on shares of NIC in a research report on Wednesday, September 20th. Finally, Sidoti lowered NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. NIC presently has a consensus rating of “Hold” and a consensus price target of $19.29.
NIC (NASDAQ:EGOV) opened at $15.95 on Monday. The company has a market capitalization of $1,056.99, a P/E ratio of 19.69, a PEG ratio of 2.07 and a beta of 0.38. NIC has a one year low of $15.45 and a one year high of $25.90.
NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, November 1st. The software maker reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. The company had revenue of $84.53 million during the quarter, compared to analysts’ expectations of $83.55 million. NIC had a return on equity of 36.89% and a net margin of 16.42%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. analysts forecast that NIC will post 0.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, December 5th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, December 4th. NIC’s payout ratio is presently 39.51%.
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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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