DA Davidson cut shares of NIC (NASDAQ:EGOV) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, 24/7 WallStreet reports. They currently have $21.00 target price on the software maker’s stock.

Several other equities research analysts have also recently commented on EGOV. TheStreet raised NIC from a c+ rating to a b rating in a report on Thursday, August 1st. Barrington Research reissued a buy rating on shares of NIC in a report on Wednesday, July 3rd. Zacks Investment Research raised NIC from a hold rating to a buy rating and set a $18.00 target price on the stock in a report on Tuesday, June 4th. ValuEngine cut NIC from a buy rating to a hold rating in a report on Wednesday, September 4th. Finally, BidaskClub raised NIC from a hold rating to a buy rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $20.25.

Shares of NASDAQ:EGOV opened at $20.31 on Tuesday. NIC has a 12 month low of $11.76 and a 12 month high of $23.45. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.06 and a beta of 0.90. The stock’s 50 day moving average price is $20.89 and its 200 day moving average price is $17.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.69 and a quick ratio of 2.69.

NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, July 31st. The software maker reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. NIC had a return on equity of 24.45% and a net margin of 15.10%. The firm had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $86.45 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts expect that NIC will post 0.73 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.08 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.32 annualized dividend and a dividend yield of 1.58%. NIC’s dividend payout ratio is currently 36.36%.

In other NIC news, Director William M. Lyons sold 10,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $20.96, for a total value of $209,600.00. Following the transaction, the director now owns 61,786 shares of the company’s stock, valued at $1,295,034.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in NIC by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,257,494 shares of the software maker’s stock worth $28,173,000 after purchasing an additional 56,159 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in NIC by 624.4% during the first quarter. BNP Paribas Arbitrage SA now owns 14,829 shares of the software maker’s stock valued at $253,000 after buying an additional 12,782 shares during the period. SG Americas Securities LLC bought a new position in NIC during the first quarter valued at about $407,000. Rhumbline Advisers grew its position in NIC by 0.7% during the first quarter. Rhumbline Advisers now owns 189,666 shares of the software maker’s stock valued at $3,241,000 after buying an additional 1,336 shares during the period. Finally, Comerica Bank grew its position in NIC by 1.9% during the first quarter. Comerica Bank now owns 65,992 shares of the software maker’s stock valued at $1,116,000 after buying an additional 1,236 shares during the period. 86.57% of the stock is currently 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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