NIC Inc. (NASDAQ:EGOV) has been given an average rating of “Hold” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.00.

EGOV has been the topic of several research analyst reports. Zacks Investment Research upgraded Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, June 4th. BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Barrington Research set a $68.00 price objective on WNS and gave the stock a “buy” rating in a report on Wednesday, July 3rd. DA Davidson reiterated a “buy” rating on shares of OP Bancorp in a report on Monday, April 29th. Finally, Loop Capital upgraded NIC from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th.

Shares of NASDAQ:EGOV traded up $0.17 during trading on Friday, reaching $17.03. 11,906 shares of the company’s stock traded hands, compared to its average volume of 314,808. NIC has a fifty-two week low of $11.76 and a fifty-two week high of $18.05. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 2.31 and a beta of 0.96. The stock has a 50-day simple moving average of $16.20.

NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Monday, May 6th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. NIC had a return on equity of 26.73% and a net margin of 15.80%. The company had revenue of $85.20 million for the quarter, compared to analysts’ expectations of $82.07 million. During the same period in the previous year, the firm posted $0.23 EPS. NIC’s revenue was down 1.7% compared to the same quarter last year. As a group, research analysts predict that NIC will post 0.73 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 11th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Monday, June 10th. NIC’s dividend payout ratio is currently 36.36%.

In other news, CFO Stephen M. Kovzan sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $16.04, for a total transaction of $561,400.00. Following the transaction, the chief financial officer now directly owns 230,691 shares in the company, valued at approximately $3,700,283.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of NIC by 4.6% during the 4th quarter. BlackRock Inc. now owns 9,998,406 shares of the software maker’s stock valued at $124,779,000 after buying an additional 442,087 shares during the period. FMR LLC raised its position in shares of NIC by 18.0% during the 4th quarter. FMR LLC now owns 2,852,872 shares of the software maker’s stock valued at $35,604,000 after buying an additional 434,209 shares during the period. Dimensional Fund Advisors LP raised its position in shares of NIC by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,257,494 shares of the software maker’s stock valued at $28,173,000 after buying an additional 56,159 shares during the period. Norges Bank purchased a new stake in shares of NIC during the 4th quarter valued at approximately $24,319,000. Finally, D. E. Shaw & Co. Inc. raised its position in shares of NIC by 13.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,221,277 shares of the software maker’s stock valued at $15,241,000 after buying an additional 146,218 shares during the period. 87.03% of the stock is currently owned by hedge funds and other institutional investors.

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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