Principal Financial Group Inc. Boosts Holdings in NIC Inc. (EGOV)

Principal Financial Group Inc. raised its position in NIC Inc. (NASDAQ:EGOV) by 4.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 534,655 shares of the software maker’s stock after purchasing an additional 23,726 shares during the period. Principal Financial Group Inc. owned about 0.81% of NIC worth $9,170,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of EGOV. US Bancorp DE grew its holdings in NIC by 20.5% in the second quarter. US Bancorp DE now owns 17,334 shares of the software maker’s stock valued at $329,000 after purchasing an additional 2,943 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in NIC by 14.9% in the second quarter. Russell Investments Group Ltd. now owns 189,583 shares of the software maker’s stock valued at $3,593,000 after purchasing an additional 24,630 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in NIC by 3.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,650 shares of the software maker’s stock valued at $278,000 after purchasing an additional 520 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in NIC by 3.1% in the second quarter. Great West Life Assurance Co. Can now owns 91,902 shares of the software maker’s stock valued at $1,736,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its holdings in NIC by 92.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 60,500 shares of the software maker’s stock valued at $1,146,000 after purchasing an additional 29,000 shares during the last quarter. 93.33% of the stock is currently owned by institutional investors.

Shares of NIC Inc. (NASDAQ EGOV) opened at $16.20 on Wednesday. The company has a market capitalization of $1,096.76, a price-to-earnings ratio of 20.43, a P/E/G ratio of 2.13 and a beta of 0.38. NIC Inc. has a 52 week low of $15.45 and a 52 week high of $25.90.

NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Wednesday, November 1st. The software maker reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $84.53 million for the quarter, compared to analyst estimates of $83.55 million. NIC had a return on equity of 36.89% and a net margin of 16.42%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 earnings per share. research analysts predict that NIC Inc. will post 0.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, December 5th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Monday, December 4th. NIC’s payout ratio is 39.51%.

A number of analysts recently commented on EGOV shares. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a research note on Monday, August 14th. BidaskClub raised NIC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research lowered NIC from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $18.00 price objective on shares of NIC in a research note on Wednesday, September 20th. Finally, Maxim Group reaffirmed a “hold” rating and set a $16.00 price objective on shares of NIC in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $19.29.

COPYRIGHT VIOLATION WARNING: “Principal Financial Group Inc. Boosts Holdings in NIC Inc. (EGOV)” was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.chaffeybreeze.com/2017/12/06/principal-financial-group-inc-boosts-holdings-in-nic-inc-egov.html.

NIC 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.

Want to see what other hedge funds are holding EGOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIC Inc. (NASDAQ:EGOV).

Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

Receive News & Ratings for NIC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply