NIC Inc. (EGOV) Shares Sold by American International Group Inc.

American International Group Inc. reduced its position in shares of NIC Inc. (NASDAQ:EGOV) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,217 shares of the software maker’s stock after selling 598 shares during the period. American International Group Inc. owned 0.08% of NIC worth $627,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of NIC by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 783,318 shares of the software maker’s stock valued at $9,775,000 after acquiring an additional 38,375 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of NIC by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,257,494 shares of the software maker’s stock valued at $28,173,000 after acquiring an additional 56,159 shares during the period. Burney Co. boosted its holdings in shares of NIC by 75.0% during the fourth quarter. Burney Co. now owns 145,230 shares of the software maker’s stock valued at $1,812,000 after acquiring an additional 62,264 shares during the period. Martingale Asset Management L P boosted its holdings in shares of NIC by 114.7% during the fourth quarter. Martingale Asset Management L P now owns 191,114 shares of the software maker’s stock valued at $2,386,000 after acquiring an additional 102,100 shares during the period. Finally, Royce & Associates LP bought a new stake in shares of NIC during the fourth quarter valued at about $26,000. 88.33% of the stock is currently owned by institutional investors.

NIC stock traded up $0.17 during midday trading on Friday, hitting $17.12. The company’s stock had a trading volume of 132,882 shares, compared to its average volume of 395,142. NIC Inc. has a 12 month low of $11.76 and a 12 month high of $17.55. The stock has a market cap of $1.17 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 2.34 and a beta of 0.97.

NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, January 30th. The software maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. NIC had a net margin of 16.89% and a return on equity of 29.79%. The firm had revenue of $78.65 million for the quarter, compared to analysts’ expectations of $74.44 million. During the same period in the previous year, the business earned $0.16 earnings per share. NIC’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that NIC Inc. will post 0.73 EPS for the current fiscal year.

A number of brokerages recently weighed in on EGOV. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. BidaskClub cut shares of NIC from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. ValuEngine upgraded shares of NIC from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Loop Capital lifted their price objective on shares of NIC to $16.00 and gave the company a “hold” rating in a research note on Thursday, January 31st. Finally, Barrington Research upgraded shares of NIC from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a research note on Thursday, January 31st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. NIC has a consensus rating of “Hold” and an average price target of $19.75.

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NIC Profile

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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Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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