EGOV has been the subject of several other reports. Zacks Investment Research raised NIC from a hold rating to a buy rating and set a $23.00 target price for the company in a research report on Thursday, May 4th. Maxim Group dropped their price objective on NIC from $21.00 to $16.00 and set a hold rating for the company in a research note on Friday. Imperial Capital upgraded NIC from an in-line rating to an outperform rating and set a $23.00 target price for the company in a research note on Monday, July 17th. BidaskClub lowered NIC from a sell rating to a strong sell rating in a research note on Friday, June 30th. Finally, DA Davidson assumed coverage on NIC in a research note on Wednesday, June 28th. They issued a neutral rating and a $20.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $21.29.
Shares of NIC (EGOV) traded down 9.42% on Friday, reaching $16.35. 2,175,791 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $19.42 and its 200-day moving average price is $21.17. NIC has a 12 month low of $15.85 and a 12 month high of $25.90. The company has a market capitalization of $1.08 billion, a P/E ratio of 19.12 and a beta of 0.45.
NIC (NASDAQ:EGOV) last announced its earnings results on Monday, May 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. NIC had a return on equity of 39.07% and a net margin of 17.64%. The firm had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $81.99 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that NIC will post $0.73 EPS for the current year.
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In related news, COO Robert W. Knapp sold 25,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the completion of the sale, the chief operating officer now directly owns 197,531 shares in the company, valued at approximately $4,025,681.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.10% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock worth $234,000 after buying an additional 127 shares during the last quarter. State of Alaska Department of Revenue boosted its position in NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock worth $138,000 after buying an additional 140 shares during the period. Louisiana State Employees Retirement System boosted its position in NIC by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock worth $511,000 after buying an additional 400 shares during the period. Arizona State Retirement System boosted its position in NIC by 1.3% in the first quarter. Arizona State Retirement System now owns 32,287 shares of the software maker’s stock worth $652,000 after buying an additional 400 shares during the period. Finally, SG Americas Securities LLC boosted its position in NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after buying an additional 482 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.
NIC Company Profile
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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