NIC Inc. (NASDAQ:EGOV) is Weybosset Research & Management LLC’s 10th Largest Position

Weybosset Research & Management LLC raised its stake in shares of NIC Inc. (NASDAQ:EGOV) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 366,645 shares of the software maker’s stock after buying an additional 4,490 shares during the quarter. NIC comprises about 4.3% of Weybosset Research & Management LLC’s investment portfolio, making the stock its 10th biggest holding. Weybosset Research & Management LLC owned about 0.55% of NIC worth $7,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Advisors Preferred LLC purchased a new position in shares of NIC in the second quarter worth $26,000. Taylor Hoffman Wealth Management purchased a new position in shares of NIC in the second quarter worth $157,000. UMB Bank N A MO purchased a new position in shares of NIC in the second quarter worth $162,000. Janus Henderson Group PLC purchased a new position in shares of NIC in the second quarter worth $168,000. Finally, Hikari Power Ltd purchased a new position in shares of NIC in the second quarter worth $186,000. Institutional investors and hedge funds own 86.56% of the company’s stock.

EGOV has been the subject of several recent analyst reports. Barrington Research restated a “buy” rating on shares of NIC in a research note on Wednesday, July 3rd. TheStreet upgraded NIC from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. BidaskClub cut NIC from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. DA Davidson upped their price objective on NIC from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, ValuEngine cut NIC from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $20.50.

NIC stock traded down $0.33 during mid-day trading on Tuesday, reaching $20.74. 2,355 shares of the stock traded hands, compared to its average volume of 278,831. The stock has a market capitalization of $1.38 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.69 and a quick ratio of 2.69. NIC Inc. has a 12-month low of $11.76 and a 12-month high of $23.45. The business’s 50-day moving average is $20.73 and its 200-day moving average is $18.33.

NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, July 31st. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. NIC had a return on equity of 24.45% and a net margin of 15.10%. The business had revenue of $91.60 million during the quarter, compared to analyst estimates of $86.45 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. NIC’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts anticipate that NIC Inc. will post 0.73 EPS for the current fiscal year.

In other news, Director William M. Lyons sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $20.96, for a total value of $209,600.00. Following the completion of the transaction, the director now owns 61,786 shares of the company’s stock, valued at $1,295,034.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

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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