NIC Inc. (NASDAQ:EGOV) saw strong trading volume on Monday . 1,766,009 shares traded hands during trading, an increase of 294% from the previous session’s volume of 447,703 shares.The stock last traded at $17.80 and had previously closed at $16.35.

A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Maxim Group reissued a “hold” rating and set a $16.00 price target on shares of NIC in a research report on Thursday, November 2nd. DA Davidson reissued a “neutral” rating and set a $18.00 price target on shares of NIC in a research report on Wednesday, September 20th. BidaskClub raised shares of NIC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, TheStreet lowered shares of NIC from a “b-” rating to a “c+” rating in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.29.

The firm has a market capitalization of $1,150.00, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 2.08 and a beta of 0.38.

NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Wednesday, November 1st. The software maker reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. NIC had a net margin of 16.42% and a return on equity of 36.89%. The firm had revenue of $84.53 million during the quarter, compared to analyst estimates of $83.55 million. During the same period in the previous year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. analysts forecast that NIC Inc. will post 0.79 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, December 5th will be paid a $0.08 dividend. The ex-dividend date is Monday, December 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.80%. NIC’s dividend payout ratio is presently 39.02%.

Several hedge funds have recently made changes to their positions in EGOV. US Bancorp DE grew its stake in shares of NIC by 20.5% in the second quarter. US Bancorp DE now owns 17,334 shares of the software maker’s stock worth $329,000 after acquiring an additional 2,943 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of NIC by 14.9% in the second quarter. Russell Investments Group Ltd. now owns 189,583 shares of the software maker’s stock worth $3,593,000 after buying an additional 24,630 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of NIC by 3.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,650 shares of the software maker’s stock worth $278,000 after buying an additional 520 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of NIC by 3.1% in the second quarter. Great West Life Assurance Co. Can now owns 91,902 shares of the software maker’s stock worth $1,736,000 after buying an additional 2,800 shares during the last quarter. Finally, Texas Permanent School Fund boosted its holdings in shares of NIC by 1.2% in the second quarter. Texas Permanent School Fund now owns 45,445 shares of the software maker’s stock worth $861,000 after buying an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

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About NIC

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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