Shares of NIC Inc. (NASDAQ:EGOV) have earned an average rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $20.00.
A number of equities analysts recently commented on the company. Maxim Group set a $16.00 target price on NIC and gave the stock a “hold” rating in a report on Thursday, August 3rd. Sidoti cut NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Friday, July 21st. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, July 18th. Imperial Capital raised NIC from an “in-line” rating to an “outperform” rating and set a $23.00 target price on the stock in a report on Monday, July 17th. Finally, BidaskClub cut NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $20.38, for a total transaction of $509,500.00. Following the sale, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at $4,025,681.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.10% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of EGOV. Fred Alger Management Inc. boosted its stake in NIC by 0.6% in the second quarter. Fred Alger Management Inc. now owns 477,570 shares of the software maker’s stock worth $9,050,000 after buying an additional 2,812 shares in the last quarter. Royal Bank of Canada boosted its stake in NIC by 2.3% in the second quarter. Royal Bank of Canada now owns 876,558 shares of the software maker’s stock worth $16,610,000 after buying an additional 19,473 shares in the last quarter. Garner Asset Management Corp acquired a new stake in NIC during the second quarter worth approximately $211,000. Numeric Investors LLC boosted its stake in NIC by 34.9% in the second quarter. Numeric Investors LLC now owns 260,334 shares of the software maker’s stock worth $4,933,000 after buying an additional 67,300 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in NIC by 6.9% in the second quarter. Voya Investment Management LLC now owns 31,858 shares of the software maker’s stock worth $604,000 after buying an additional 2,067 shares in the last quarter. 92.55% of the stock is currently owned by institutional investors and hedge funds.
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Shares of NIC (EGOV) traded up 0.31% during mid-day trading on Friday, hitting $16.10. The company’s stock had a trading volume of 543,171 shares. NIC has a 52-week low of $15.75 and a 52-week high of $25.90. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 18.94 and a beta of 0.42. The stock’s 50 day moving average price is $17.68 and its 200 day moving average price is $20.25.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The company had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same period last year, the firm earned $0.20 EPS. NIC’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts forecast that NIC will post $0.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.99%. NIC’s dividend payout ratio is presently 38.10%.
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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