NIC Inc. (EGOV) Receives $19.67 Average Price Target from Analysts
Shares of NIC Inc. (NASDAQ:EGOV) have been given an average rating of “Hold” by the ten brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $19.67.
A number of brokerages recently issued reports on EGOV. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. BidaskClub upgraded shares of NIC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. TheStreet cut shares of NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Maxim Group set a $16.00 target price on shares of NIC and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Sidoti cut shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research report on Friday, July 21st.
A number of institutional investors and hedge funds have recently bought and sold shares of EGOV. Pacad Investment Ltd. increased its position in 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 in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in NIC in the 1st quarter valued at about $111,000. State of Alaska Department of Revenue increased its position in NIC by 2.1% in the 1st quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock valued at $138,000 after acquiring an additional 140 shares in the last quarter. SG Americas Securities LLC increased its position in NIC by 7.6% in the 1st quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after acquiring an additional 482 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in NIC in the 2nd quarter valued at about $153,000. Hedge funds and other institutional investors own 92.93% of the company’s stock.
Shares of NIC (NASDAQ:EGOV) traded up 0.152% during midday trading on Tuesday, hitting $16.525. 311,006 shares of the company were exchanged. The stock’s 50-day moving average is $16.24 and its 200-day moving average is $19.37. The stock has a market cap of $1.10 billion, a PE ratio of 19.441 and a beta of 0.40. NIC has a one year low of $15.45 and a one year high of $25.90.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $83.57 million. NIC had a net margin of 17.31% and a return on equity of 38.37%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. Equities research analysts anticipate that NIC will post $0.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, September 1st. NIC’s payout ratio is presently 38.10%.
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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