NIC Inc. (NASDAQ:EGOV) was downgraded by stock analysts at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Friday.

A number of other research analysts also recently issued reports on the company. Maxim Group dropped their price target on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Thursday, May 4th. BidaskClub downgraded NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. DA Davidson initiated coverage on NIC in a research note on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Imperial Capital upgraded NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price target on the stock in a research note on Monday. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $21.29.

Shares of NIC (NASDAQ:EGOV) traded down 7.20% during midday trading on Friday, hitting $16.75. The stock had a trading volume of 530,815 shares. The stock has a market cap of $1.11 billion, a PE ratio of 19.59 and a beta of 0.45. The firm has a 50 day moving average price of $19.42 and a 200 day moving average price of $21.17. NIC has a one year low of $15.85 and a one year high of $25.90.

NIC (NASDAQ:EGOV) last released its quarterly earnings data on Monday, May 1st. The software maker reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. NIC had a return on equity of 39.07% and a net margin of 17.64%. The business had revenue of $83.20 million for the quarter, compared to the consensus estimate of $81.99 million. During the same quarter in the prior year, the business posted $0.19 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts forecast that NIC will post $0.73 earnings per share for the current fiscal year.

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In other NIC news, COO Robert W. Knapp sold 25,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total transaction of $509,500.00. Following the completion of the sale, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the company. Creative Planning boosted its stake in NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock worth $234,000 after buying an additional 127 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock worth $138,000 after buying an additional 140 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in NIC by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock worth $511,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System boosted its stake in NIC by 1.3% in the first quarter. Arizona State Retirement System now owns 32,287 shares of the software maker’s stock worth $652,000 after buying an additional 400 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after buying an additional 482 shares during the last quarter. 92.19% of the stock is owned by institutional investors.

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.

Analyst Recommendations for NIC (NASDAQ:EGOV)

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