NIC Inc. (EGOV) Given Consensus Rating of “Hold” by Brokerages
NIC Inc. (NASDAQ:EGOV) has received a consensus rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.00.
A number of analysts have weighed in on EGOV shares. Zacks Investment Research cut NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub cut NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. DA Davidson began coverage on NIC in a report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price target for the company. Maxim Group reduced their price target on NIC from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 21st. Finally, Sidoti cut NIC from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Friday, July 21st.
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Shares of NIC (EGOV) remained flat at $15.85 on Friday. 574,923 shares of the company were exchanged. The company has a 50-day moving average price of $17.38 and a 200-day moving average price of $20.01. NIC has a 1-year low of $15.75 and a 1-year high of $25.90. The stock has a market cap of $1.05 billion, a P/E ratio of 18.65 and a beta of 0.42.
NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. NIC had a return on equity of 34.45% and a net margin of 14.96%. The company had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $83.57 million. During the same period last year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts predict that NIC will post $0.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 2.02%. NIC’s dividend payout ratio is currently 38.10%.
In other news, COO Robert W. Knapp sold 25,000 shares of the firm’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 value of $509,500.00. Following the completion of the sale, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of EGOV. Piedmont Investment Advisors LLC purchased a new position in shares of NIC during the second quarter valued at about $255,000. Arrowstreet Capital Limited Partnership boosted 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 valued at $1,547,000 after buying an additional 21,612 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of NIC during the second quarter valued at about $259,000. State Street Corp boosted 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 valued at $30,083,000 after buying an additional 88,954 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its position in shares of NIC by 1.8% in the second quarter. Gotham Asset Management LLC now owns 299,205 shares of the software maker’s stock valued at $5,670,000 after buying an additional 5,356 shares in the last quarter. 92.55% of the stock is owned by hedge funds and other institutional investors.
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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