Schwab Charles Investment Management Inc. grew its position in NIC Inc. (NASDAQ:EGOV) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 274,752 shares of the software maker’s stock after acquiring an additional 2,269 shares during the period. Schwab Charles Investment Management Inc. owned about 0.41% of NIC worth $5,207,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Palisade Capital Management LLC NJ raised its position in shares of NIC by 2.5% in the second quarter. Palisade Capital Management LLC NJ now owns 436,971 shares of the software maker’s stock worth $8,281,000 after acquiring an additional 10,635 shares during the period. Sei Investments Co. raised its position in shares of NIC by 0.4% in the second quarter. Sei Investments Co. now owns 320,102 shares of the software maker’s stock worth $6,066,000 after acquiring an additional 1,296 shares during the period. Texas Permanent School Fund raised its position in shares of NIC by 1.2% in the second quarter. Texas Permanent School Fund now owns 45,445 shares of the software maker’s stock worth $861,000 after acquiring an additional 529 shares during the period. Kornitzer Capital Management Inc. KS raised its position in shares of NIC by 92.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 60,500 shares of the software maker’s stock worth $1,146,000 after acquiring an additional 29,000 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in shares of NIC by 3.1% in the second quarter. Great West Life Assurance Co. Can now owns 91,902 shares of the software maker’s stock worth $1,736,000 after acquiring an additional 2,800 shares during the period. Institutional investors and hedge funds own 92.93% of the company’s stock.

A number of research analysts have weighed in on EGOV shares. Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, October 3rd. TheStreet downgraded shares of NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Maxim Group reduced their price target on shares of NIC from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 21st. DA Davidson restated a “neutral” rating and set a $18.00 price target on shares of NIC in a research report on Wednesday, September 20th. Finally, Sidoti downgraded shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.29.

Shares of NIC Inc. (NASDAQ:EGOV) opened at 17.50 on Friday. NIC Inc. has a 1-year low of $15.45 and a 1-year high of $25.90. The stock has a 50 day moving average of $16.92 and a 200 day moving average of $18.62. The stock has a market cap of $1.16 billion, a PE ratio of 20.59 and a beta of 0.41.

NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. NIC had a net margin of 17.31% and a return on equity of 38.37%. The firm had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same period in the previous year, the firm earned $0.20 earnings per share. NIC’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts forecast that NIC Inc. will post $0.74 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.83%. NIC’s dividend payout ratio is currently 38.10%.

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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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Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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