NIC Inc. (EGOV) Receives Average Recommendation of “Hold” from Brokerages
NIC Inc. (NASDAQ:EGOV) has earned a consensus rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $19.67.
A number of research analysts have recently weighed in on the company. Zacks Investment Research downgraded NIC from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. BidaskClub upgraded NIC from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Maxim Group set a $16.00 price target on NIC and gave the company a “hold” rating in a report on Thursday, August 3rd. 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 report on Monday, July 17th. Finally, Sidoti downgraded NIC from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Friday, July 21st.
NIC (NASDAQ:EGOV) traded down 1.067% during trading on Tuesday, reaching $16.225. The company had a trading volume of 188,068 shares. The stock has a 50 day moving average price of $16.50 and a 200 day moving average price of $19.45. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 19.088 and a beta of 0.40. NIC has a 12 month low of $15.45 and a 12 month high of $25.90.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The business had revenue of $85.30 million for the quarter, compared to the consensus estimate of $83.57 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. NIC’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts predict that NIC will post $0.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a $0.08 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.95%. NIC’s dividend payout ratio is currently 38.10%.
Several large investors have recently made changes to their positions in the business. U S Global Investors Inc. acquired a new stake in shares of NIC in the second quarter worth about $472,000. Piedmont Investment Advisors LLC acquired a new stake in shares of NIC in the second quarter worth about $255,000. Arrowstreet Capital Limited Partnership lifted its position in shares of NIC by 36.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 81,646 shares of the software maker’s stock worth $1,547,000 after buying an additional 21,612 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of NIC in the second quarter worth about $259,000. Finally, State Street Corp lifted its position in shares of NIC by 5.9% in the second quarter. State Street Corp now owns 1,587,370 shares of the software maker’s stock worth $30,083,000 after buying an additional 88,954 shares during the last quarter. 92.93% of the stock is owned by institutional investors.
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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