NIC Inc. (EGOV) Stock Rating Reaffirmed by DA Davidson
NIC Inc. (NASDAQ:EGOV)‘s stock had its “neutral” rating reiterated by investment analysts at DA Davidson in a note issued to investors on Wednesday. They presently have a $18.00 price objective on the software maker’s stock. DA Davidson’s price target indicates a potential upside of 6.82% from the company’s previous close.
EGOV has been the subject of several other research reports. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub raised shares of NIC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Imperial Capital raised shares of NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price target for the company in a research report on Monday, July 17th. Maxim Group decreased their price target on shares of NIC from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 21st. Finally, Sidoti cut shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Friday, July 21st. Two equities 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 stock has a consensus rating of “Hold” and a consensus price target of $19.71.
Shares of NIC (NASDAQ EGOV) remained flat at $16.85 during trading on Wednesday. The company had a trading volume of 266,349 shares. NIC has a one year low of $15.45 and a one year high of $25.90. The company has a 50-day moving average of $16.32 and a 200-day moving average of $19.07. The stock has a market cap of $1.12 billion, a PE ratio of 19.82 and a beta of 0.40.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. NIC had a net margin of 17.31% and a return on equity of 38.37%. The company had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter last year, the company posted $0.20 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, analysts expect that NIC will post $0.74 EPS for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in EGOV. Pacad Investment Ltd. raised its holdings 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. Ameritas Investment Partners Inc. acquired a new stake in NIC during the 1st quarter worth $111,000. SG Americas Securities LLC raised its stake in NIC by 7.6% during the 1st quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after acquiring an additional 482 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in NIC during the 2nd quarter worth $153,000. Finally, Pinebridge Investments L.P. raised its stake in NIC by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock worth $156,000 after acquiring an additional 108 shares in the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.
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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