DA Davidson reiterated their neutral rating on shares of NIC Inc. (NASDAQ:EGOV) in a research report sent to investors on Wednesday morning. They currently have a $18.00 target price on the software maker’s stock.
Several other research analysts have also recently issued reports on EGOV. BidaskClub cut shares of NIC from a sell rating to a strong sell rating in a report on Friday, June 30th. Zacks Investment Research cut shares of NIC from a buy rating to a hold rating in a report on Monday, July 3rd. Imperial Capital upgraded shares of 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. Maxim Group dropped their target price on shares of NIC from $21.00 to $16.00 and set a hold rating on the stock in a report on Friday, July 21st. Finally, Sidoti cut shares of 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. NIC currently has a consensus rating of Hold and a consensus price target of $19.71.
Shares of NIC (EGOV) opened at 17.00 on Wednesday. NIC has a 52 week low of $15.45 and a 52 week high of $25.90. The stock’s 50 day moving average is $16.32 and its 200-day moving average is $19.07. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 20.00 and a beta of 0.40.
NIC (NASDAQ:EGOV) last issued its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. NIC had a net margin of 17.31% and a return on equity of 38.37%. The company had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same period in the prior year, the business earned $0.20 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that NIC will post $0.74 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, September 1st. NIC’s dividend payout ratio is currently 38.10%.
Several large investors have recently added to or reduced their stakes in EGOV. BlackRock Inc. boosted its holdings in shares of NIC by 139,679.0% in the 1st quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock valued at $151,087,000 after buying an additional 7,474,225 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NIC by 53.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock valued at $25,604,000 after buying an additional 470,181 shares in the last quarter. FMR LLC boosted its holdings in shares of NIC by 136.8% in the 1st quarter. FMR LLC now owns 743,200 shares of the software maker’s stock valued at $15,013,000 after buying an additional 429,400 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of NIC by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock valued at $119,252,000 after buying an additional 427,702 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC boosted its holdings in shares of NIC by 20.8% in the 1st quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock valued at $37,647,000 after buying an additional 321,052 shares in the last quarter. Institutional investors and hedge funds own 92.93% 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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