BidaskClub cut shares of NIC (NASDAQ:EGOV) from a hold rating to a sell rating in a research note issued to investors on Friday, December 29th.
EGOV has been the topic of several other reports. DA Davidson reissued a neutral rating and set a $18.00 price objective on shares of NIC in a research note on Wednesday, September 20th. Zacks Investment Research lowered NIC from a buy rating to a hold rating in a research report on Monday, October 9th. Finally, Maxim Group reiterated a hold rating and issued a $16.00 price target on shares of NIC in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $19.43.
NIC (NASDAQ:EGOV) opened at $17.45 on Friday. NIC has a 52-week low of $15.45 and a 52-week high of $25.70. The company has a market capitalization of $1,150.00, a PE ratio of 21.28, a PEG ratio of 2.13 and a beta of 0.38.
NIC (NASDAQ:EGOV) last issued its earnings results on Wednesday, November 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. NIC had a return on equity of 36.89% and a net margin of 16.42%. The firm had revenue of $84.53 million for the quarter, compared to analysts’ expectations of $83.55 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. analysts forecast that NIC will post 0.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Tuesday, December 5th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, December 4th. NIC’s payout ratio is presently 39.02%.
Hedge funds have recently modified their holdings of the company. Pacad Investment Ltd. increased its position in shares of NIC by 350.0% in the 2nd quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock valued at $102,000 after acquiring an additional 4,200 shares during the period. Pinebridge Investments L.P. increased its position in shares of NIC by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock valued at $156,000 after acquiring an additional 108 shares during the period. Private Advisor Group LLC acquired a new stake in NIC during the 3rd quarter worth about $183,000. First Trust Advisors LP acquired a new stake in NIC during the 3rd quarter worth about $188,000. Finally, Garner Asset Management Corp acquired a new stake in NIC during the 2nd quarter worth about $211,000. 93.23% of the stock is currently owned by institutional investors and hedge funds.
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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