NIC (NASDAQ:EGOV) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Other analysts also recently issued reports about the company. Loop Capital set a $13.00 price target on NIC and gave the stock a “hold” rating in a report on Monday, December 10th. Zacks Investment Research cut NIC from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Barrington Research upgraded NIC from a “market perform” rating to an “outperform” rating and set a $26.00 target price on the stock in a research report on Thursday, January 31st. Finally, ValuEngine upgraded NIC from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.75.

Shares of NASDAQ EGOV opened at $17.21 on Wednesday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. NIC has a 1 year low of $11.76 and a 1 year high of $17.55.

NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Wednesday, January 30th. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. The company had revenue of $78.65 million during the quarter, compared to the consensus estimate of $74.44 million. NIC had a return on equity of 29.79% and a net margin of 16.89%. NIC’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. As a group, sell-side analysts predict that NIC will post 0.73 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its position in shares of NIC by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 47,449 shares of the software maker’s stock worth $592,000 after purchasing an additional 1,043 shares in the last quarter. Mondrian Investment Partners LTD increased its position in NIC by 0.4% in the 4th quarter. Mondrian Investment Partners LTD now owns 311,357 shares of the software maker’s stock valued at $3,886,000 after acquiring an additional 1,112 shares during the period. Public Employees Retirement System of Ohio increased its position in NIC by 2.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 49,630 shares of the software maker’s stock valued at $619,000 after acquiring an additional 1,318 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NIC by 45.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,965 shares of the software maker’s stock valued at $62,000 after acquiring an additional 1,543 shares during the period. Finally, Texas Permanent School Fund increased its position in NIC by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 43,562 shares of the software maker’s stock valued at $544,000 after acquiring an additional 1,682 shares during the period. Institutional investors and hedge funds own 86.06% of the company’s stock.

About NIC

NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.

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