NIC Inc. (NASDAQ:EGOV) Short Interest Update

NIC Inc. (NASDAQ:EGOV) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 932,600 shares, a decrease of 16.0% from the January 15th total of 1,110,000 shares. Based on an average trading volume of 304,700 shares, the short-interest ratio is presently 3.1 days. Currently, 1.4% of the shares of the stock are sold short.

EGOV stock opened at $21.07 on Friday. The stock has a market capitalization of $1.39 billion, a P/E ratio of 28.47, a P/E/G ratio of 1.44 and a beta of 0.83. The firm has a 50-day simple moving average of $21.80 and a 200-day simple moving average of $21.47. The company has a quick ratio of 2.68, a current ratio of 3.11 and a debt-to-equity ratio of 0.03. NIC has a 52 week low of $15.48 and a 52 week high of $24.38.

NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, January 29th. The software maker reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The company had revenue of $87.10 million for the quarter, compared to analysts’ expectations of $85.26 million. NIC had a return on equity of 22.11% and a net margin of 14.24%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. On average, analysts expect that NIC will post 0.79 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, March 3rd. This is a boost from NIC’s previous quarterly dividend of $0.08. NIC’s dividend payout ratio is currently 41.56%.

A number of analysts have recently commented on EGOV shares. BidaskClub cut shares of NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, January 10th. DA Davidson boosted their target price on shares of NIC from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. ValuEngine raised shares of NIC from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Barrington Research reissued a “buy” rating and set a $26.00 target price on shares of NIC in a research note on Tuesday, January 28th. Finally, Zacks Investment Research cut shares of NIC from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. NIC presently has an average rating of “Hold” and a consensus price target of $24.33.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in shares of NIC in the 4th quarter valued at approximately $206,000. Cubist Systematic Strategies LLC grew its stake in shares of NIC by 109.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 27,479 shares of the software maker’s stock valued at $614,000 after buying an additional 14,373 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of NIC in the 4th quarter valued at approximately $264,000. UBS Asset Management Americas Inc. grew its stake in shares of NIC by 18.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 58,175 shares of the software maker’s stock valued at $1,300,000 after buying an additional 8,864 shares during the period. Finally, Loomis Sayles & Co. L P grew its stake in shares of NIC by 48.4% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,308,353 shares of the software maker’s stock valued at $29,242,000 after buying an additional 426,501 shares during the period. 85.59% of the stock is owned by institutional investors.

NIC Company 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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