Maxim Group Reaffirms Hold Rating for NIC Inc. (EGOV)
A number of other research firms have also recently weighed in on EGOV. Zacks Investment Research upgraded NIC from a hold rating to a buy rating and set a $22.00 price target for the company in a report on Tuesday, July 18th. Imperial Capital upgraded NIC from an in-line rating to an outperform rating and set a $23.00 price target for the company in a report on Monday, July 17th. 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. DA Davidson restated a neutral rating and issued a $18.00 price target on shares of NIC in a report on Wednesday, September 20th. Finally, BidaskClub upgraded NIC from a strong sell rating to a sell rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $19.29.
NIC (EGOV) remained flat at $$15.95 during midday trading on Thursday. The company had a trading volume of 431,123 shares, compared to its average volume of 469,983. The stock has a market cap of $1,060.00, a PE ratio of 19.69, a PEG ratio of 2.07 and a beta of 0.38. NIC has a one year low of $15.45 and a one year high of $25.90.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, November 1st. The software maker reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The firm had revenue of $84.53 million during the quarter, compared to analysts’ expectations of $83.55 million. NIC had a return on equity of 36.89% and a net margin of 16.42%. NIC’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. equities analysts predict that NIC will post 0.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, December 5th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, December 4th. NIC’s payout ratio is 39.02%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Pacad Investment Ltd. raised its position in shares of NIC by 350.0% in the 2nd quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock valued at $102,000 after purchasing an additional 4,200 shares in the last quarter. SG Americas Securities LLC raised its position in shares of NIC by 7.6% in the 1st quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after purchasing an additional 482 shares in the last quarter. Pinebridge Investments L.P. raised its position in shares of NIC by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock valued at $156,000 after purchasing an additional 108 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of NIC in the 2nd quarter valued at approximately $153,000. Finally, First Trust Advisors LP acquired a new position in shares of NIC in the 3rd quarter valued at approximately $188,000. 93.00% of the stock is currently owned by 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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