NIC CFO Stephen M. Kovzan Unloads 75,000 Shares (EGOV)
NIC (NASDAQ:EGOV) CFO Stephen M. Kovzan sold 75,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $18.87, for a total value of $1,415,250.00. Following the transaction, the chief financial officer now directly owns 188,548 shares in the company, valued at approximately $3,557,901. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
NIC (NASDAQ:EGOV) traded down 0.42% on Wednesday, hitting $19.00. 62,577 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 $17.00 and a 200-day moving average of $17.94. The company has a market cap of $1.240 billion and a price-to-earnings ratio of 39.75.
NIC (NASDAQ:EGOV) last issued its quarterly earnings data 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.
EGOV has been the subject of a number of recent research reports. 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 research 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 company’s stock. NIC currently has an average rating of “Buy” and a consensus target price of $18.67.
NIC Inc (NASDAQ:EGOV) is a provider of eGovernment services that assists governments use the Internet.
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