New York State Common Retirement Fund lessened its stake in NIC Inc. (NASDAQ:EGOV) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 972,933 shares of the software maker’s stock after selling 7,290 shares during the quarter. New York State Common Retirement Fund owned 1.47% of NIC worth $16,686,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its stake in shares of NIC by 36.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 81,646 shares of the software maker’s stock worth $1,547,000 after purchasing an additional 21,612 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of NIC by 53.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock worth $25,604,000 after purchasing an additional 470,181 shares during the last quarter. U S Global Investors Inc. acquired a new position in shares of NIC during the 2nd quarter worth $472,000. Great West Life Assurance Co. Can increased its stake in shares of NIC by 3.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 91,902 shares of the software maker’s stock worth $1,736,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Financial Counselors Inc. increased its stake in shares of NIC by 3.2% during the 2nd quarter. Financial Counselors Inc. now owns 689,992 shares of the software maker’s stock worth $13,075,000 after purchasing an additional 21,084 shares during the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Shares of NIC Inc. (NASDAQ:EGOV) opened at $18.35 on Friday. The stock has a market cap of $1,209.41, a price-to-earnings ratio of 22.53, a P/E/G ratio of 2.32 and a beta of 0.38. NIC Inc. has a 1-year low of $15.45 and a 1-year high of $25.90.

NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Wednesday, November 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $84.53 million during the quarter, compared to the consensus estimate of $83.55 million. NIC had a net margin of 16.42% and a return on equity of 36.89%. NIC’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. equities analysts predict that NIC Inc. will post 0.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Tuesday, December 5th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Monday, December 4th. NIC’s dividend payout ratio is currently 39.51%.

EGOV has been the topic of several analyst reports. BidaskClub upgraded shares of NIC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research lowered shares of NIC from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $18.00 price objective on shares of NIC in a report on Wednesday, September 20th. Finally, Maxim Group reaffirmed a “hold” rating and set a $16.00 price objective on shares of NIC in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $19.29.

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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.

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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