Imperial Capital Boosts NIC Inc. (EGOV) Price Target to $23.00
NIC Inc. (NASDAQ:EGOV) had its price target raised by research analysts at Imperial Capital from $21.00 to $23.00 in a report released on Friday. The firm presently has a “line” rating on the stock. Imperial Capital’s price target indicates a potential downside of 6.88% from the company’s previous close.
A number of other equities analysts have also recently commented on EGOV. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research note on Friday, September 23rd. Maxim Group lifted their price target on shares of NIC from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $22.50.
NIC (NASDAQ:EGOV) opened at 24.70 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of 32.50 and a beta of 0.53. The firm’s 50 day moving average is $23.16 and its 200-day moving average is $22.11. NIC has a 52 week low of $14.48 and a 52 week high of $25.50.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. NIC had a net margin of 16.47% and a return on equity of 37.12%. The firm earned $80.37 million during the quarter, compared to analysts’ expectations of $80.04 million. During the same period in the previous year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts predict that NIC will post $0.78 earnings per share for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 16th will be given a $0.65 dividend. This is a boost from NIC’s previous special dividend of $0.55. The ex-dividend date is Monday, November 14th.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD boosted its stake in NIC by 7.1% in the first quarter. BlackRock Group LTD now owns 91,576 shares of the company’s stock valued at $1,651,000 after buying an additional 6,095 shares during the period. Goldman Sachs Group Inc. boosted its stake in NIC by 103.2% in the first quarter. Goldman Sachs Group Inc. now owns 127,328 shares of the company’s stock valued at $2,296,000 after buying an additional 64,660 shares during the period. Renaissance Technologies LLC boosted its stake in NIC by 13.5% in the first quarter. Renaissance Technologies LLC now owns 1,337,955 shares of the company’s stock valued at $24,123,000 after buying an additional 159,008 shares during the period. Royal Bank of Canada boosted its stake in NIC by 3.2% in the first quarter. Royal Bank of Canada now owns 761,673 shares of the company’s stock valued at $13,733,000 after buying an additional 23,863 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in NIC by 124.2% in the second quarter. BNP Paribas Arbitrage SA now owns 19,226 shares of the company’s stock valued at $422,000 after buying an additional 10,650 shares during the period. 89.70% of the stock is owned by institutional investors.
NIC Inc is a provider of digital government services that help governments use technology. The Company operates through Outsourced Portals segment. The Other Software & Services category includes its subsidiaries that provide software development and services, other than outsourced portal services, to state and local governments, as well as federal agencies.
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