Brokerages Set NIC Inc. (EGOV) Price Target at $18.00
Shares of NIC Inc. (NASDAQ:EGOV) have been assigned an average recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.00.
A number of brokerages have recently weighed in on EGOV. Loop Capital lowered their price target on NIC to $14.00 and set a “hold” rating for the company in a report on Friday, February 2nd. Zacks Investment Research upgraded NIC from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Finally, BidaskClub downgraded NIC from a “hold” rating to a “sell” rating in a report on Friday, December 29th.
Shares of NIC (NASDAQ:EGOV) traded up $0.40 during midday trading on Tuesday, hitting $13.85. The stock had a trading volume of 398,521 shares, compared to its average volume of 780,668. NIC has a 1-year low of $12.65 and a 1-year high of $22.40. The company has a market cap of $917.96, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.63 and a beta of 0.56.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, March 5th. This represents a $0.32 dividend on an annualized basis and a yield of 2.31%. NIC’s payout ratio is currently 41.56%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC bought a new position in NIC during the 3rd quarter worth $183,000. First Trust Advisors LP bought a new position in NIC during the 3rd quarter worth $188,000. Commerce Bank bought a new position in NIC during the 4th quarter worth $199,000. American Capital Management Inc. bought a new position in NIC during the 4th quarter worth $205,000. Finally, Ramsey Quantitative Systems bought a new position in NIC during the 4th quarter worth $237,000. Hedge funds and other institutional investors own 96.42% of the company’s stock.
WARNING: This piece was first published by Watch List News and is the property of of Watch List News. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/brokerages-set-nic-inc-egov-price-target-at-18-00/1907730.html.
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.
Receive News & Ratings for NIC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIC and related companies with MarketBeat.com's FREE daily email newsletter.