NIC Inc. (NASDAQ:EGOV) Receives Average Rating of “Hold” from Analysts

NIC Inc. (NASDAQ:EGOV) has been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $18.00.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, June 4th. Barrington Research set a $68.00 price target on shares of WNS and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Loop Capital raised shares of NIC from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, DA Davidson reissued a “buy” rating on shares of OP Bancorp in a report on Monday, April 29th.

In related news, CFO Stephen M. Kovzan sold 35,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $16.04, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now directly owns 230,691 shares of the company’s stock, valued at $3,700,283.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC purchased a new position in NIC in the first quarter valued at about $25,000. Royce & Associates LP purchased a new position in NIC in the fourth quarter valued at about $26,000. Investors Research Corp purchased a new position in NIC in the first quarter valued at about $26,000. NumerixS Investment Technologies Inc increased its holdings in NIC by 477.8% in the first quarter. NumerixS Investment Technologies Inc now owns 5,200 shares of the software maker’s stock valued at $88,000 after buying an additional 4,300 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in NIC in the fourth quarter valued at about $130,000. 87.03% of the stock is owned by institutional investors.

Shares of NASDAQ:EGOV traded up $0.17 on Friday, reaching $17.03. The company’s stock had a trading volume of 11,906 shares, compared to its average volume of 314,808. The business has a 50-day moving average price of $16.20. NIC has a 52-week low of $11.76 and a 52-week high of $18.05. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.13 billion, a PE ratio of 19.30, a P/E/G ratio of 2.31 and a beta of 0.96.

NIC (NASDAQ:EGOV) last announced its earnings results on Monday, May 6th. The software maker reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. NIC had a net margin of 15.80% and a return on equity of 26.73%. The business had revenue of $85.20 million during the quarter, compared to analysts’ expectations of $82.07 million. During the same period in the prior year, the company earned $0.23 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that NIC will post 0.73 earnings per share for the current year.

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

NIC Company Profile

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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