Shares of NIC Inc. (NASDAQ:EGOV) traded down 9.8% during mid-day trading on Monday . The company traded as low as $14.40 and last traded at $14.70. 2,474,671 shares were traded during mid-day trading, an increase of 339% from the average session volume of 563,892 shares. The stock had previously closed at $16.30.

A number of analysts recently issued reports on the company. ValuEngine raised NIC from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. BidaskClub upgraded NIC from a “hold” rating to a “buy” rating in a report on Tuesday, June 19th. Barrington Research reiterated a “hold” rating on shares of NIC in a report on Monday, August 6th. Stephens reiterated a “hold” rating and set a $18.00 price target on shares of NIC in a report on Thursday, August 2nd. Finally, Loop Capital lifted their price target on NIC to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. NIC presently has an average rating of “Hold” and an average target price of $17.80.

The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 2.05 and a beta of 0.68.

NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, August 1st. The software maker reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. NIC had a net margin of 16.52% and a return on equity of 33.16%. The company had revenue of $92.50 million during the quarter, compared to the consensus estimate of $90.36 million. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. equities research analysts anticipate that NIC Inc. will post 0.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Wednesday, September 5th will be given a $0.08 dividend. The ex-dividend date is Tuesday, September 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.18%. NIC’s payout ratio is 41.56%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of NIC during the first quarter worth $127,000. SG Americas Securities LLC bought a new position in NIC during the 1st quarter worth about $148,000. Janus Henderson Group PLC bought a new position in NIC during the 2nd quarter worth about $158,000. Amalgamated Bank bought a new position in NIC during the 2nd quarter worth about $163,000. Finally, Xact Kapitalforvaltning AB bought a new position in NIC during the 1st quarter worth about $168,000. Institutional investors own 94.23% of the company’s stock.

NIC Company Profile (NASDAQ:EGOV)

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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