NIC Inc. (NASDAQ:EGOV)‘s stock had its “neutral” rating reaffirmed by investment analysts at DA Davidson in a note issued to investors on Wednesday. They presently have a $18.00 price target on the software maker’s stock. DA Davidson’s price objective would indicate a potential upside of 6.82% from the company’s current price.

Several other brokerages have also issued reports on EGOV. Zacks Investment Research lowered shares of NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub upgraded shares of NIC from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Imperial Capital raised 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 note on Monday, July 17th. Maxim Group decreased their target price on shares of NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research note 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 note on Friday, July 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. NIC currently has an average rating of “Hold” and a consensus price target of $19.71.

NIC (NASDAQ EGOV) remained flat at $16.85 during mid-day trading on Wednesday. 266,349 shares of the stock were exchanged. The stock has a market cap of $1.12 billion, a PE ratio of 19.82 and a beta of 0.40. The company’s 50-day moving average is $16.32 and its 200-day moving average is $19.07. NIC has a one year low of $15.45 and a one year high of $25.90.

NIC (NASDAQ:EGOV) last posted its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping the consensus estimate 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 last year, the company earned $0.20 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that NIC will post $0.74 EPS for the current year.

WARNING: “NIC Inc. (EGOV) Receives “Neutral” Rating from DA Davidson” was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/09/20/nic-inc-egov-receives-neutral-rating-from-da-davidson.html.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in NIC by 8.9% in the 2nd quarter. BlackRock Inc. now owns 8,145,068 shares of the software maker’s stock worth $154,348,000 after purchasing an additional 665,492 shares in the last quarter. Vanguard Group Inc. boosted its stake in NIC by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 5,962,692 shares of the software maker’s stock worth $112,993,000 after purchasing an additional 59,123 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in NIC by 0.4% in the 2nd quarter. TimesSquare Capital Management LLC now owns 2,138,172 shares of the software maker’s stock worth $40,518,000 after purchasing an additional 8,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in NIC by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,085,971 shares of the software maker’s stock worth $39,529,000 after purchasing an additional 19,167 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC boosted its stake in NIC by 20.8% in the 1st quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock worth $37,647,000 after purchasing an additional 321,052 shares in the last quarter. Institutional investors own 92.93% of the company’s stock.

About NIC

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)

Receive News & Ratings for NIC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.