Mondrian Investment Partners LTD Lowers Position in NIC Inc. (EGOV)

Mondrian Investment Partners LTD lessened its position in NIC Inc. (NASDAQ:EGOV) by 15.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 261,985 shares of the software maker’s stock after selling 49,372 shares during the period. Mondrian Investment Partners LTD owned about 0.39% of NIC worth $4,477,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of EGOV. Norges Bank acquired a new stake in shares of NIC in the 4th quarter valued at $24,319,000. BlackRock Inc. boosted its stake in shares of NIC by 4.6% in the 4th quarter. BlackRock Inc. now owns 9,998,406 shares of the software maker’s stock valued at $124,779,000 after purchasing an additional 442,087 shares in the last quarter. FMR LLC boosted its stake in shares of NIC by 18.0% in the 4th quarter. FMR LLC now owns 2,852,872 shares of the software maker’s stock valued at $35,604,000 after purchasing an additional 434,209 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of NIC in the 3rd quarter valued at $6,413,000. Finally, Weybosset Research & Management LLC acquired a new stake in shares of NIC in the 1st quarter valued at $6,110,000. Institutional investors own 88.05% of the company’s stock.

Shares of NASDAQ EGOV opened at $16.64 on Friday. The stock has a market cap of $1.14 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.35 and a beta of 0.96. NIC Inc. has a 12-month low of $11.76 and a 12-month high of $18.05.

NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Monday, May 6th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. NIC had a net margin of 16.89% and a return on equity of 29.79%. The business had revenue of $85.20 million for the quarter, compared to the consensus estimate of $82.07 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. Analysts forecast that NIC Inc. will post 0.74 earnings per share for the current year.

Several equities research analysts have recently commented on EGOV shares. BidaskClub upgraded shares of NIC from a “hold” rating to a “buy” rating in a research note on Wednesday, January 16th. Zacks Investment Research downgraded shares of NIC from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Barrington Research upgraded shares of NIC from a “market perform” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Thursday, January 31st. Loop Capital upped their price target on shares of NIC to $16.00 and gave the stock a “hold” rating in a research report on Thursday, January 31st. Finally, ValuEngine upgraded shares of NIC from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. NIC currently has an average rating of “Hold” and a consensus target price of $19.75.

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NIC Company 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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