Barrington Research reaffirmed their buy rating on shares of NIC (NASDAQ:EGOV) in a report published on Thursday morning, reports. They currently have a $30.00 target price on the software maker’s stock.

Other equities analysts have also issued research reports about the company. DA Davidson lowered NIC from a buy rating to a neutral rating and boosted their price objective for the stock from $22.00 to $23.00 in a research note on Thursday, April 9th. Zacks Investment Research lowered NIC from a hold rating to a sell rating in a research note on Thursday, June 25th. BidaskClub lowered NIC from a sell rating to a strong sell rating in a research note on Thursday, July 16th. Sidoti assumed coverage on NIC in a research note on Monday, April 6th. They set a neutral rating on the stock. Finally, Raymond James lifted their target price on NIC from $26.00 to $28.00 and gave the company a strong-buy rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $27.00.

Shares of NASDAQ:EGOV traded up $0.29 during trading on Thursday, reaching $21.92. The stock had a trading volume of 413,405 shares, compared to its average volume of 337,675. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.77 and a current ratio of 2.92. The business has a fifty day moving average price of $22.59 and a 200-day moving average price of $22.08. The stock has a market cap of $1.47 billion, a PE ratio of 29.62 and a beta of 0.33. NIC has a 1-year low of $15.49 and a 1-year high of $25.94.

NIC (NASDAQ:EGOV) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.03. The company had revenue of $93.59 million for the quarter, compared to analyst estimates of $91.22 million. NIC had a return on equity of 20.19% and a net margin of 13.84%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Sell-side analysts expect that NIC will post 0.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be given a $0.09 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.64%. NIC’s dividend payout ratio (DPR) is presently 46.75%.

In related news, Director Venmal (Raji) Arasu sold 2,000 shares of the company’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $23.02, for a total value of $46,040.00. Following the completion of the sale, the director now directly owns 30,957 shares of the company’s stock, valued at approximately $712,630.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of EGOV. Parallel Advisors LLC purchased a new stake in NIC during the 1st quarter valued at approximately $34,000. Mutual of America Capital Management LLC grew its holdings in NIC by 24.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 2,976 shares of the software maker’s stock valued at $68,000 after buying an additional 593 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in NIC by 95.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,403 shares of the software maker’s stock valued at $170,000 after acquiring an additional 3,608 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in NIC in the fourth quarter valued at $206,000. Finally, CWM Advisors LLC acquired a new position in NIC in the first quarter valued at $253,000. 86.21% of the stock is owned by hedge funds and other 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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