OxFORD Asset Management LLP Has $772,000 Stake in NIC Inc. (EGOV)
OxFORD Asset Management LLP lifted its stake in shares of NIC Inc. (NASDAQ:EGOV) by 195.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,742 shares of the software maker’s stock after acquiring an additional 26,942 shares during the quarter. OxFORD Asset Management LLP owned approximately 0.06% of NIC worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Pacad Investment Ltd. raised its position in shares of NIC by 350.0% during the second quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock worth $102,000 after acquiring an additional 4,200 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of NIC during the first quarter worth about $111,000. SG Americas Securities LLC raised its position in shares of NIC by 7.6% during the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after acquiring an additional 482 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of NIC during the second quarter worth about $153,000. Finally, Pinebridge Investments L.P. raised its position in shares of NIC by 1.3% during the second quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock worth $156,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 92.93% of the company’s stock.
A number of equities analysts have recently issued reports on EGOV shares. Zacks Investment Research upgraded 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 NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Maxim Group set a $16.00 price objective on NIC and gave the stock a “hold” rating in a research report on Thursday, August 3rd. DA Davidson started coverage on NIC in a research report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price objective for the company. Finally, Sidoti downgraded NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Friday, July 21st. Two 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. NIC has an average rating of “Hold” and an average price target of $19.29.
Shares of NIC Inc. (NASDAQ EGOV) opened at 17.50 on Monday. The firm has a 50-day moving average price of $16.93 and a 200-day moving average price of $18.60. NIC Inc. has a one year low of $15.45 and a one year high of $25.90. The company has a market capitalization of $1.16 billion, a P/E ratio of 20.59 and a beta of 0.41.
NIC (NASDAQ:EGOV) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The business had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter last year, the business posted $0.20 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Equities analysts forecast that NIC Inc. will post $0.74 earnings per share 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 issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.83%. The ex-dividend date was Friday, September 1st. NIC’s dividend payout ratio (DPR) 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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