Dimensional Fund Advisors LP Acquires 13,274 Shares of NIC Inc. (EGOV)

Dimensional Fund Advisors LP grew its holdings in NIC Inc. (NASDAQ:EGOV) by 0.6% during the 3rd quarter, Holdings Channel reports. The fund owned 2,099,245 shares of the software maker’s stock after purchasing an additional 13,274 shares during the period. Dimensional Fund Advisors LP’s holdings in NIC were worth $36,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of NIC in the 3rd quarter valued at $1,950,000. Wells Fargo & Company MN boosted its holdings in shares of NIC by 26.6% in the 3rd quarter. Wells Fargo & Company MN now owns 128,659 shares of the software maker’s stock valued at $2,207,000 after acquiring an additional 27,065 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of NIC by 269.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 345,905 shares of the software maker’s stock valued at $6,123,000 after acquiring an additional 252,383 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of NIC in the 3rd quarter valued at $545,000. Finally, Legal & General Group Plc boosted its holdings in shares of NIC by 5.5% in the 3rd quarter. Legal & General Group Plc now owns 128,619 shares of the software maker’s stock valued at $2,207,000 after acquiring an additional 6,673 shares during the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.

NIC Inc. (NASDAQ:EGOV) opened at $17.45 on Friday. NIC Inc. has a 12 month low of $15.45 and a 12 month high of $25.70. The stock has a market cap of $1,160.00, a price-to-earnings ratio of 21.28, a P/E/G ratio of 2.20 and a beta of 0.38.

NIC (NASDAQ:EGOV) last posted its earnings results on Wednesday, November 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. NIC had a net margin of 16.42% and a return on equity of 36.89%. The firm had revenue of $84.53 million during the quarter, compared to analysts’ expectations of $83.55 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. research analysts expect that NIC Inc. will post 0.79 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, December 5th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, December 4th. NIC’s dividend payout ratio is currently 39.02%.

EGOV has been the topic of several recent research reports. DA Davidson reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of NIC in a report on Wednesday, September 20th. Zacks Investment Research downgraded shares of NIC from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Maxim Group reaffirmed a “hold” rating and issued a $16.00 price objective on shares of NIC in a report on Thursday, November 2nd. Finally, BidaskClub downgraded shares of NIC from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. NIC currently has a consensus rating of “Hold” and a consensus target price of $19.43.

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About NIC

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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Institutional Ownership by Quarter for NIC (NASDAQ:EGOV)

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