NIC Inc. (EGOV) Shares Sold by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. lowered its stake in NIC Inc. (NASDAQ:EGOV) by 59.2% during the fourth quarter, Holdings Channel reports. The fund owned 11,298 shares of the software maker’s stock after selling 16,400 shares during the period. UBS Asset Management Americas Inc.’s holdings in NIC were worth $270,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGOV. Dimensional Fund Advisors LP increased its position in NIC by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,052,462 shares of the software maker’s stock valued at $49,054,000 after buying an additional 7,373 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of NIC by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,670,994 shares of the software maker’s stock worth $39,268,000 after buying an additional 28,082 shares in the last quarter. Norges Bank bought a new position in shares of NIC during the fourth quarter worth about $37,781,000. State Street Corp increased its position in shares of NIC by 6.1% in the fourth quarter. State Street Corp now owns 1,443,519 shares of the software maker’s stock worth $34,504,000 after buying an additional 82,935 shares in the last quarter. Finally, Fred Alger Management Inc. increased its position in shares of NIC by 15.6% in the fourth quarter. Fred Alger Management Inc. now owns 506,882 shares of the software maker’s stock worth $12,114,000 after buying an additional 68,356 shares in the last quarter. Institutional investors own 85.83% of the company’s stock.
NIC Inc. (NASDAQ:EGOV) opened at 20.65 on Thursday. The stock has a 50 day moving average price of $20.83 and a 200-day moving average price of $22.60. The stock has a market capitalization of $1.37 billion, a P/E ratio of 24.15 and a beta of 0.61. NIC Inc. has a one year low of $18.82 and a one year high of $25.90.
NIC (NASDAQ:EGOV) last posted its earnings results on Monday, May 1st. The software maker reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $83.20 million for the quarter, compared to analyst estimates of $81.99 million. NIC had a return on equity of 39.21% and a net margin of 17.56%. NIC’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. Analysts anticipate that NIC Inc. will post $0.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, June 2nd.
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A number of brokerages have recently issued reports on EGOV. Zacks Investment Research downgraded NIC from a “strong-buy” rating to a “hold” rating in a report on Friday, February 3rd. Sidoti upgraded NIC from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Friday, February 3rd. Loop Capital began coverage on NIC in a report on Tuesday, February 14th. They issued a “hold” rating and a $22.00 price target on the stock. Finally, Avondale Partners downgraded NIC from a “market perform” rating to an “underperform” rating and set a $18.00 price target on the stock. in a report on Thursday, February 2nd. They noted that the move was a valuation call. One 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 company presently has a consensus rating of “Hold” and an average target price 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. Also, Director Alexander C. Kemper sold 7,000 shares of the stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $20.85, for a total value of $145,950.00. Following the completion of the transaction, the director now directly owns 32,232 shares in the company, valued at approximately $672,037.20. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.
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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