NIC Inc. (EGOV) Stock Rating Lowered by TheStreet
NIC Inc. (NASDAQ:EGOV) was downgraded by TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Monday, August 14th.
EGOV has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Maxim Group set a $16.00 price objective on shares of NIC and gave the company a “hold” rating in a research report on Thursday, August 3rd. DA Davidson assumed coverage on shares of NIC in a research report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price objective for the company. Sidoti downgraded shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Friday, July 21st. Finally, BidaskClub downgraded shares of NIC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. NIC currently has a consensus rating of “Hold” and a consensus target price of $20.00.
NIC (NASDAQ EGOV) traded down 3.38% during trading on Monday, hitting $15.70. The stock had a trading volume of 620,738 shares. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 18.47 and a beta of 0.42. The company has a 50-day moving average price of $17.11 and a 200-day moving average price of $19.81. NIC has a 52-week low of $15.45 and a 52-week high of $25.90.
NIC (NASDAQ:EGOV) last issued its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. NIC had a net margin of 17.31% and a return on equity of 38.37%. The firm had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts forecast that NIC will post $0.74 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. increased its position in shares of NIC by 0.3% in the second quarter. Alps Advisors Inc. now owns 22,966 shares of the software maker’s stock valued at $435,000 after buying an additional 59 shares in the last quarter. Pinebridge Investments L.P. increased its position in shares of NIC by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock valued at $156,000 after buying an additional 108 shares in the last quarter. Creative Planning increased its position in shares of NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock valued at $234,000 after buying an additional 127 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of 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 valued at $138,000 after buying an additional 140 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of NIC by 0.6% in the second quarter. Arizona State Retirement System now owns 32,487 shares of the software maker’s stock valued at $616,000 after buying an additional 200 shares in the last quarter. 92.55% 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.
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