Champlain Investment Partners LLC Has $30.90 Million Stake in NIC Inc. (EGOV)
Champlain Investment Partners LLC lowered its position in NIC Inc. (NASDAQ:EGOV) by 1.3% during the first quarter, Holdings Channel reports. The fund owned 1,529,685 shares of the software maker’s stock after selling 20,290 shares during the period. Champlain Investment Partners LLC’s holdings in NIC were worth $30,900,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in NIC by 4.5% in the first quarter. Ameriprise Financial Inc. now owns 656,433 shares of the software maker’s stock worth $13,260,000 after buying an additional 28,513 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of NIC during the first quarter valued at $349,000. Louisiana State Employees Retirement System boosted its position in shares of NIC by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock valued at $511,000 after buying an additional 400 shares during the last quarter. Spark Investment Management LLC boosted its position in shares of NIC by 54.5% in the first quarter. Spark Investment Management LLC now owns 102,300 shares of the software maker’s stock valued at $2,066,000 after buying an additional 36,100 shares during the last quarter. Finally, Airain ltd purchased a new position in shares of NIC during the first quarter valued at $447,000. 92.93% of the stock is owned by institutional investors and hedge funds.
Shares of NIC Inc. (NASDAQ EGOV) traded down 0.50% on Thursday, hitting $19.95. 330,600 shares of the stock traded hands. The firm’s 50 day moving average is $20.67 and its 200-day moving average is $22.19. The company has a market cap of $1.32 billion, a PE ratio of 23.33 and a beta of 0.53. NIC Inc. has a 12 month low of $19.50 and a 12 month high of $25.90.
NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Monday, May 1st. The software maker reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The firm had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $81.99 million. NIC had a return on equity of 39.07% and a net margin of 17.64%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. Equities analysts predict that NIC Inc. will post $0.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, June 2nd. NIC’s dividend payout ratio (DPR) is 37.65%.
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Separately, Zacks Investment Research raised shares of NIC from a “sell” rating to a “hold” rating in a research report on Tuesday, February 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. NIC presently has a consensus rating of “Hold” and a consensus target price of $22.83.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of NIC stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the completion of the sale, the chief operating officer now owns 197,531 shares in the company, valued at approximately $4,025,681.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander C. Kemper sold 7,000 shares of NIC stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $20.85, for a total value of $145,950.00. Following the completion of the sale, the director now owns 32,232 shares of the company’s stock, valued at approximately $672,037.20. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.
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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