NIC (EGOV) : Ramsey Quantitative Systems reduced its stake in NIC by 2.04% during the most recent quarter end. The investment management company now holds a total of 40,581 shares of NIC which is valued at $938,639 after selling 844 shares in NIC , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.NIC makes up approximately 0.99% of Ramsey Quantitative Systems’s portfolio.
Other Hedge Funds, Including , Analytic Investors boosted its stake in EGOV in the latest quarter, The investment management firm added 129,413 additional shares and now holds a total of 161,900 shares of NIC which is valued at $3,744,747. NIC makes up approx 0.04% of Analytic Investors’s portfolio.Blackrock Group Ltd boosted its stake in EGOV in the latest quarter, The investment management firm added 38,951 additional shares and now holds a total of 130,527 shares of NIC which is valued at $3,019,090.Brown Capital Management boosted its stake in EGOV in the latest quarter, The investment management firm added 30,800 additional shares and now holds a total of 8,739,624 shares of NIC which is valued at $204,157,617. NIC makes up approx 3.08% of Brown Capital Management’s portfolio. First Quadrant L Pca sold out all of its stake in EGOV during the most recent quarter. The investment firm sold 7,500 shares of EGOV which is valued $173,700.
NIC opened for trading at $22.74 and hit $23.1235 on the upside on Tuesday, eventually ending the session at $23.03, with a gain of 1.41% or 0.32 points. The heightened volatility saw the trading volume jump to 1,66,792 shares. Company has a market cap of $1,519 M.
On the company’s financial health, NIC reported $0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.18. The company had revenue of $80.81 million for the quarter, compared to analysts expectations of $81.03 million. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.
Many Wall Street Analysts have commented on NIC. Company shares were Reiterated by Maxim Group on Aug 5, 2016 to “Hold”, Firm has raised the Price Target to $ 23 from a previous price target of $18 .
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 Companys 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 Companys software & services businesses operates through NIC Technologies LLC (NIC Technologies) the Companys subsidiary which provides software development and services other than outsourced portal services to state and local governments as well as federal agencies.