NIC Price Target Raised to $23.00 at Imperial Capital (EGOV)
Stock analysts at Imperial Capital upped their target price on shares of NIC (NASDAQ:EGOV) from $21.00 to $23.00 in a report issued on Wednesday. The firm currently has an “outperform” rating on the stock. Imperial Capital’s target price would suggest a potential upside of 22.02% from the stock’s previous close.
NIC (NASDAQ:EGOV) traded up 0.64% on Wednesday, hitting $18.97. 329,627 shares of the company’s stock traded hands. NIC has a 1-year low of $15.00 and a 1-year high of $25.99. The stock has a 50-day moving average of $16.55 and a 200-day moving average of $18.05. The company has a market cap of $1.238 billion and a P/E ratio of 39.27.
NIC (NASDAQ:EGOV) last released its earnings data on Thursday, August 7th. 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. Analysts expect that NIC will post $0.59 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on EGOV. Analysts at Barrington Research upgraded shares of NIC from a “market perform” rating to an “outperform” rating in a research note on Friday, August 8th. 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 equities research analyst has rated the stock with a hold rating, three have given 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 $18.67.
In other NIC news, COO Robert W. Knapp sold 15,000 shares of NIC stock on the open market in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $18.79, for a total value of $281,850.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
NIC Inc (NASDAQ:EGOV) is a provider of eGovernment services that assists governments use the Internet.
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