NIC Inc. (EGOV) Shares Sold by First Trust Advisors LP
First Trust Advisors LP lessened its position in shares of NIC Inc. (NASDAQ:EGOV) by 97.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,236 shares of the software maker’s stock after selling 4,395,999 shares during the period. First Trust Advisors LP owned about 0.15% of NIC worth $1,469,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in EGOV. BlackRock Inc. increased its position in shares of NIC by 4.2% during the 2nd quarter. BlackRock Inc. now owns 9,754,378 shares of the software maker’s stock valued at $151,681,000 after purchasing an additional 396,537 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in NIC during the second quarter valued at $5,947,000. Spark Investment Management LLC boosted its position in NIC by 83.6% during the second quarter. Spark Investment Management LLC now owns 389,800 shares of the software maker’s stock valued at $6,061,000 after purchasing an additional 177,500 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of NIC by 45.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 463,928 shares of the software maker’s stock worth $7,215,000 after buying an additional 144,828 shares during the last quarter. Finally, Mackay Shields LLC lifted its position in shares of NIC by 169.9% in the second quarter. Mackay Shields LLC now owns 210,000 shares of the software maker’s stock worth $3,265,000 after buying an additional 132,200 shares during the last quarter. 89.40% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on the company. ValuEngine upgraded NIC from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. TheStreet raised NIC from a “c+” rating to a “b-” rating in a report on Wednesday, August 22nd. BidaskClub downgraded NIC from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Barrington Research reissued a “hold” rating on shares of NIC in a report on Monday, October 29th. Finally, Loop Capital set a $15.00 target price on NIC and gave the stock a “hold” rating in a report on Monday, November 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. NIC has a consensus rating of “Hold” and a consensus target price of $16.00.
NIC (NASDAQ:EGOV) last issued its earnings results on Thursday, November 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.07. NIC had a net margin of 16.94% and a return on equity of 32.21%. The business had revenue of $87.03 million during the quarter, compared to the consensus estimate of $83.06 million. During the same period last year, the business posted $0.21 EPS. NIC’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that NIC Inc. will post 0.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Tuesday, December 4th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, December 3rd. This represents a $0.32 annualized dividend and a dividend yield of 2.49%. NIC’s dividend payout ratio is presently 41.56%.
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NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.
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