NIC Inc. (EGOV) Stock Rating Upgraded by BidaskClub
NIC Inc. (NASDAQ:EGOV) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Friday.
A number of other research analysts also recently issued reports on EGOV. Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Thursday, May 4th. 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 target price on the stock. Imperial Capital upgraded shares of NIC from an “in-line” rating to an “outperform” rating and set a $23.00 target price on the stock in a research report on Monday, July 17th. Maxim Group dropped their target price on shares of NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. Finally, Sidoti downgraded shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. NIC presently has a consensus rating of “Hold” and a consensus price target of $20.00.
NIC (EGOV) traded up 0.92% during midday trading on Friday, hitting $16.45. The stock had a trading volume of 367,909 shares. NIC has a 52 week low of $15.45 and a 52 week high of $25.90. The stock’s 50 day moving average price is $16.90 and its 200-day moving average price is $19.68. The company has a market cap of $1.09 billion, a PE ratio of 19.35 and a beta of 0.42.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The firm had revenue of $85.30 million for the quarter, compared to the consensus estimate of $83.57 million. NIC had a net margin of 17.31% and a return on equity of 38.37%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 EPS. Equities research analysts predict that NIC will post $0.74 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of EGOV. BlackRock Inc. raised its stake in NIC by 139,679.0% in the first quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock valued at $151,087,000 after buying an additional 7,474,225 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in NIC during the first quarter valued at about $10,900,000. Bank of New York Mellon Corp raised its stake in NIC by 53.4% in the second quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock valued at $25,604,000 after buying an additional 470,181 shares during the last quarter. FMR LLC raised its stake in NIC by 136.8% in the first quarter. FMR LLC now owns 743,200 shares of the software maker’s stock valued at $15,013,000 after buying an additional 429,400 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in NIC by 7.8% in the first quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock valued at $119,252,000 after buying an additional 427,702 shares during the last quarter. Hedge funds and other institutional investors own 92.55% 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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