Insider Selling: NIC CFO Sells 75,000 Shares of Stock (EGOV)
NIC (NASDAQ:EGOV) CFO Stephen M. Kovzan unloaded 75,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $18.87, for a total value of $1,415,250.00. Following the completion of the sale, the chief financial officer now directly owns 188,548 shares of the company’s stock, valued at approximately $3,557,901. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on EGOV shares. Analysts at Imperial Capital raised their price target on shares of NIC from $21.00 to $23.00 in a research note on Wednesday, August 13th. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. NIC currently has a consensus rating of “Buy” and a consensus target price of $18.67.
NIC (NASDAQ:EGOV) traded up 1.76% on Monday, hitting $19.12. The stock had a trading volume of 237,726 shares. NIC has a 1-year low of $15.00 and a 1-year high of $25.99. The stock’s 50-day moving average is $16.82 and its 200-day moving average is $18.03. The company has a market cap of $1.248 billion and a P/E ratio of 39.15.
NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.17 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.16 earnings per share. NIC’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that NIC will post $0.59 earnings per share for the current fiscal year.
NIC Inc (NASDAQ:EGOV) is a provider of eGovernment services that assists governments use the Internet.
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