Laurion Capital Management LP Reduces Holdings in NIC Inc. (EGOV)

Laurion Capital Management LP decreased its position in shares of NIC Inc. (NASDAQ:EGOV) by 87.4% during the 2nd quarter, Holdings Channel reports. The firm owned 10,221 shares of the software maker’s stock after selling 70,700 shares during the quarter. Laurion Capital Management LP’s holdings in NIC were worth $159,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of NIC during the first quarter worth about $127,000. SG Americas Securities LLC purchased a new position in shares of NIC during the first quarter worth about $148,000. Janus Henderson Group PLC purchased a new position in shares of NIC during the second quarter worth about $158,000. Amalgamated Bank purchased a new position in shares of NIC during the second quarter worth about $163,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of NIC during the first quarter worth about $168,000. 94.20% of the stock is currently owned by institutional investors.

NASDAQ EGOV opened at $14.55 on Monday. NIC Inc. has a 52-week low of $12.65 and a 52-week high of $18.90. The stock has a market cap of $968.45 million, a P/E ratio of 16.92, a P/E/G ratio of 1.84 and a beta of 0.68.

NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, August 1st. The software maker reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. NIC had a return on equity of 33.16% and a net margin of 16.52%. The firm had revenue of $92.50 million for the quarter, compared to analyst estimates of $90.36 million. During the same quarter last year, the company posted $0.19 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. analysts expect that NIC Inc. will post 0.79 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Investors of record on Wednesday, September 5th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Tuesday, September 4th. NIC’s dividend payout ratio is currently 41.56%.

A number of equities analysts recently issued reports on EGOV shares. ValuEngine raised NIC from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. BidaskClub raised NIC from a “hold” rating to a “buy” rating in a report on Tuesday, June 19th. Barrington Research reissued a “hold” rating on shares of NIC in a report on Monday, August 6th. Stephens reissued a “hold” rating and set a $18.00 price target on shares of NIC in a report on Thursday, August 2nd. Finally, Loop Capital raised their price target on NIC to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.75.

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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