Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Takes Position in NIC Inc. (EGOV)
Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of NIC Inc. (NASDAQ:EGOV) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,400 shares of the software maker’s stock, valued at approximately $153,000.
Other institutional investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new position in shares of NIC during the first quarter valued at about $111,000. State of Alaska Department of Revenue raised its position 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. SG Americas Securities LLC raised its position 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. Advisors Asset Management Inc. raised its position in shares of NIC by 595.1% in the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock valued at $180,000 after buying an additional 7,647 shares during the last quarter. Finally, Wrapmanager Inc. acquired a new position in shares of NIC during the second quarter valued at about $214,000. 92.93% of the stock is owned by hedge funds and other institutional investors.
NIC Inc. (EGOV) opened at 16.40 on Wednesday. NIC Inc. has a 52 week low of $15.45 and a 52 week high of $25.90. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 19.29 and a beta of 0.42. The stock has a 50 day moving average price of $16.90 and a 200 day moving average price of $19.68.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. NIC had a net margin of 17.31% and a return on equity of 38.37%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. On average, equities analysts forecast that NIC Inc. will post $0.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, September 1st. NIC’s dividend payout ratio is 38.10%.
Several brokerages have recently issued reports on EGOV. Zacks Investment Research lowered NIC from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub upgraded NIC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a research note on Monday, August 14th. Maxim Group set a $16.00 price target on NIC and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, Sidoti lowered NIC from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $20.00.
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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