Edmonds Duncan Registered Investment Advisors buys $2,816,837 stake in NIC (EGOV)

NIC (EGOV) : Edmonds Duncan Registered Investment Advisors scooped up 23,376 additional shares in NIC during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 19, 2016. The investment management firm now holds a total of 156,665 shares of NIC which is valued at $2,816,837.NIC makes up approximately 1.84% of Edmonds Duncan Registered Investment Advisors’s portfolio.

NIC (EGOV) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $17.97 and reached the intraday high at $18.18. The bulls started the profit booking and pushed the shares to intraday low of $17.85. The trading session was marked by a volume range of 2,15,915 shares exchanging hands. The 52-week high of the shares is $20.9 and the 52-week low is $14.48. The market cap of the company stands at $1,180 M and there are 6,56,52,223 shares in public circulation.

Other Hedge Funds, Including , Btim Corp. boosted its stake in EGOV in the latest quarter, The investment management firm added 337,589 additional shares and now holds a total of 1,062,488 shares of NIC which is valued at $19,103,534. NIC makes up approx 0.33% of Btim Corp.’s portfolio. Alpha Windward sold out all of its stake in EGOV during the most recent quarter. The investment firm sold 21,600 shares of EGOV which is valued $382,104.Capital Impact Advisors boosted its stake in EGOV in the latest quarter, The investment management firm added 27,500 additional shares and now holds a total of 45,029 shares of NIC which is valued at $796,563. NIC makes up approx 0.38% of Capital Impact Advisors’s portfolio.Conestoga Capital Advisors boosted its stake in EGOV in the latest quarter, The investment management firm added 387,945 additional shares and now holds a total of 1,771,085 shares of NIC which is valued at $30,586,638. NIC makes up approx 2.12% of Conestoga Capital Advisors’s portfolio.

On the company’s financial health, NIC reported $0.13 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Feb 4, 2016. Analyst had a consensus of $0.14. The company had revenue of $71.16 million for the quarter, compared to analysts expectations of $71.54 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS.

Many Wall Street Analysts have commented on NIC. Shares were Reiterated by Imperial Capital on Feb 9, 2016 to “In-line” and Lowered the Price Target to $ 19 from a previous price target of $22 .NIC was Downgraded by Avondale to ” Mkt Perform” on Feb 5, 2016.

NIC Inc. (NIC) is a provider of eGovernment services that helps governments use the Internet. The Company operates in two segments: outsourced portal businesses and software & services businesses. In the Company’s outsourced portal businesses the Company enters into long-term contracts with state and local governments to design build and operate Internet-based enterprise-wide portals on their behalf. These portals consist of Websites and applications that allow businesses and citizens to access government information online and complete secure transactions such as applying for a permit retrieving government records or filing a government-mandated form or report. The Company’s software & services businesses operates through NIC Technologies LLC (NIC Technologies) the Company’s subsidiary which provides software development and services other than outsourced portal services to state and local governments as well as federal agencies.

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