Two Sigma Investments LP raised its holdings in shares of NIC Inc. (NASDAQ:EGOV) by 13.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 428,106 shares of the software maker’s stock after purchasing an additional 49,134 shares during the quarter. Two Sigma Investments LP’s holdings in NIC were worth $7,107,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. American International Group Inc. boosted its position in shares of NIC by 6.8% during the third quarter. American International Group Inc. now owns 51,052 shares of the software maker’s stock valued at $876,000 after buying an additional 3,264 shares during the period. Aperio Group LLC boosted its position in shares of NIC by 12.5% during the third quarter. Aperio Group LLC now owns 35,804 shares of the software maker’s stock valued at $614,000 after buying an additional 3,977 shares during the period. OxFORD Asset Management LLP boosted its position in shares of NIC by 13.7% during the third quarter. OxFORD Asset Management LLP now owns 46,334 shares of the software maker’s stock valued at $795,000 after buying an additional 5,592 shares during the period. Rhumbline Advisers boosted its position in shares of NIC by 5.0% during the third quarter. Rhumbline Advisers now owns 132,282 shares of the software maker’s stock valued at $2,269,000 after buying an additional 6,300 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of NIC by 18.8% during the third quarter. Victory Capital Management Inc. now owns 41,509 shares of the software maker’s stock valued at $712,000 after buying an additional 6,566 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

How to Become a New Pot Stock Millionaire

Shares of NIC stock opened at $13.90 on Thursday. The stock has a market capitalization of $932.97, a P/E ratio of 18.05, a P/E/G ratio of 1.82 and a beta of 0.56. NIC Inc. has a twelve month low of $12.65 and a twelve month high of $22.40.

NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $83.47 million during the quarter, compared to analyst estimates of $81.01 million. NIC had a return on equity of 33.25% and a net margin of 15.34%. NIC’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. analysts expect that NIC Inc. will post 0.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 5th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.30%. NIC’s payout ratio is 41.56%.

NIC announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 8th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the software maker to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Several brokerages have issued reports on EGOV. Loop Capital dropped their target price on NIC to $14.00 and set a “hold” rating for the company in a research report on Friday, February 2nd. TheStreet lowered NIC from a “b-” rating to a “c” rating in a report on Thursday, March 8th. Zacks Investment Research upgraded NIC from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. BidaskClub upgraded NIC from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Barrington Research reiterated a “hold” rating on shares of NIC in a report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.33.

ILLEGAL ACTIVITY WARNING: This piece of content was first posted by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at https://www.watchlistnews.com/nic-inc-egov-holdings-lifted-by-two-sigma-investments-lp/1956995.html.

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.

Want to see what other hedge funds are holding EGOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIC Inc. (NASDAQ:EGOV).

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

Receive News & Ratings for NIC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIC and related companies with MarketBeat.com's FREE daily email newsletter.