Several analysts have recently updated their ratings and price targets for NIC (NASDAQ: EGOV):

  • 8/3/2017 – NIC was given a new $16.00 price target on by analysts at Maxim Group. They now have a “hold” rating on the stock.
  • 7/21/2017 – NIC had its price target lowered by analysts at Maxim Group from $21.00 to $16.00. They now have a “hold” rating on the stock. They wrote, “Texas has released its Request for Offer (RFO) for Texas.gov, where EGOV is the vendor and this contract generated 20% of 2016 revenue or about $63 million.””
  • 7/21/2017 – NIC was downgraded by analysts at Sidoti from a “buy” rating to a “neutral” rating. They now have a $19.00 price target on the stock.
  • 7/18/2017 – NIC was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $22.00 price target on the stock. According to Zacks, “NIC Inc. is a provider of Internet-based, electronic government services that help governments use the Internet to reduce costs and provide a higher level of service to businesses and citizens. They accomplish this currently through three different business segments: state and local portal businesses, government procurement business and eGovernment products businesses. “
  • 7/17/2017 – NIC was upgraded by analysts at Imperial Capital from an “in-line” rating to an “outperform” rating. They now have a $23.00 price target on the stock.
  • 7/3/2017 – NIC was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “NIC Inc. is a provider of Internet-based, electronic government services that help governments use the Internet to reduce costs and provide a higher level of service to businesses and citizens. They accomplish this currently through three different business segments: state and local portal businesses, government procurement business and eGovernment products businesses. “
  • 6/30/2017 – NIC was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 6/28/2017 – NIC is now covered by analysts at DA Davidson. They set a “neutral” rating and a $20.00 price target on the stock.

Shares of NIC Inc. (NASDAQ:EGOV) remained flat at $16.30 during trading on Tuesday. 522,300 shares of the company’s stock traded hands. The firm has a market capitalization of $1.08 billion, a P/E ratio of 19.18 and a beta of 0.42. The company has a 50 day moving average price of $18.52 and a 200-day moving average price of $20.67. NIC Inc. has a 1-year low of $15.75 and a 1-year high of $25.90.

NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The company had revenue of $85.30 million for the quarter, compared to analyst estimates of $83.57 million. During the same period in the prior year, the company posted $0.20 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that NIC Inc. will post $0.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, September 1st. NIC’s dividend payout ratio is currently 38.10%.

In related news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $20.38, for a total transaction of $509,500.00. Following the transaction, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

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.

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