Shares of NIC Inc. (NASDAQ:EGOV) have been assigned an average recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $19.67.
Several equities research analysts have recently commented on EGOV shares. DA Davidson started coverage on NIC in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 target price for the company. BidaskClub cut NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Zacks Investment Research cut NIC from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Imperial Capital raised NIC from an “in-line” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Monday, July 17th. Finally, Maxim Group lowered their target price on NIC from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 21st.
Shares of NIC (NASDAQ:EGOV) traded up 0.61% on Tuesday, reaching $16.60. The company’s stock had a trading volume of 420,121 shares. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 19.53 and a beta of 0.40. NIC has a 52 week low of $15.45 and a 52 week high of $25.90. The stock has a 50-day moving average of $16.20 and a 200 day moving average of $19.35.
NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $83.57 million. NIC had a return on equity of 34.45% and a net margin of 14.96%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.20 EPS. On average, analysts expect that NIC will post $0.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a $0.08 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.93%. NIC’s dividend payout ratio is currently 38.10%.
Several large investors have recently bought and sold shares of EGOV. BlackRock Inc. boosted its position in shares of NIC by 139,679.0% in the 1st quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock worth $151,087,000 after purchasing an additional 7,474,225 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NIC by 53.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock worth $25,604,000 after purchasing an additional 470,181 shares during the last quarter. FMR LLC boosted its position in shares of NIC by 136.8% in the 1st quarter. FMR LLC now owns 743,200 shares of the software maker’s stock worth $15,013,000 after purchasing an additional 429,400 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of NIC by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock worth $119,252,000 after purchasing an additional 427,702 shares during the last quarter. Finally, Columbia Wanger Asset Management LLC boosted its position in shares of NIC by 20.8% in the 1st quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock worth $37,647,000 after purchasing an additional 321,052 shares during the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.
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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