Analysts Set NIC Inc. (EGOV) PT at $22.83
Shares of NIC Inc. (NASDAQ:EGOV) have received an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $22.83.
Separately, Zacks Investment Research upgraded NIC from a “sell” rating to a “hold” rating in a report on Tuesday, February 28th.
NIC (NASDAQ EGOV) traded up 0.383% during midday trading on Friday, reaching $19.675. 50,247 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $20.48 and a 200 day moving average price of $22.02. NIC has a 12 month low of $19.35 and a 12 month high of $25.90. The company has a market cap of $1.30 billion, a P/E ratio of 23.012 and a beta of 0.53.
NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Monday, May 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. NIC had a return on equity of 39.07% and a net margin of 17.64%. The firm had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $81.99 million. During the same period in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that NIC will post $0.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Friday, June 2nd. NIC’s payout ratio is 37.65%.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total transaction of $509,500.00. Following the completion of the transaction, the chief operating officer now owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in shares of NIC by 19.3% in the first quarter. Goldman Sachs Group Inc. now owns 361,488 shares of the software maker’s stock valued at $7,302,000 after buying an additional 58,468 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of NIC by 111.8% in the first quarter. Tudor Investment Corp ET AL now owns 29,642 shares of the software maker’s stock valued at $599,000 after buying an additional 15,650 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of NIC by 18.0% in the first quarter. Gotham Asset Management LLC now owns 293,849 shares of the software maker’s stock valued at $5,936,000 after buying an additional 44,856 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in shares of NIC during the first quarter valued at about $490,000. Finally, State Street Corp raised its position in shares of NIC by 3.8% in the first quarter. State Street Corp now owns 1,498,416 shares of the software maker’s stock valued at $30,264,000 after buying an additional 54,897 shares in the last quarter. 92.93% of the stock is owned by institutional investors and hedge funds.
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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