NIC Trading Up 5.2% After Better-Than-Expected Earnings (EGOV)
NIC (NASDAQ:EGOV) was up 5.2% on Friday after the company announced better than expected quarterly earnings, Stock Ratings Network reports. The company traded as high as $18.95 and last traded at $18.02, with a volume of 462,197 shares traded. The stock had previously closed at $17.13.
The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $71.20 million for the quarter, compared to the consensus estimate of $68.62 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis.
EGOV has been the subject of a number of recent research reports. Analysts at Barrington Research upgraded shares of NIC from a “market perform” rating to an “outperform” rating in a research note on Friday. Separately, analysts at Raymond James upgraded shares of NIC from an “outperform” rating to a “strong-buy” rating in a research note on Monday, July 14th. They now have a $23.00 price target on the stock. Finally, analysts at Avondale Partners upgraded shares of NIC from a “market perform” rating to an “outperform” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $18.00.
The stock has a 50-day moving average of $16.3 and a 200-day moving average of $18.19. The company has a market cap of $1.196 billion and a P/E ratio of 35.76.
NIC Inc (NASDAQ:EGOV) is a provider of eGovernment services that assists governments use the Internet.
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