NIC Inc. (NASDAQ:EGOV) Given Average Recommendation of “Hold” by Analysts
Shares of NIC Inc. (NASDAQ:EGOV) have been given an average rating of “Hold” by the nine analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $22.33.
Several brokerages recently weighed in on EGOV. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, May 4th. BidaskClub downgraded shares of NIC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. DA Davidson began coverage on shares of NIC in a research report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price target for the company. Finally, 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.
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NIC (NASDAQ EGOV) traded up 2.267% during trading on Monday, reaching $19.175. The company’s stock had a trading volume of 211,934 shares. NIC has a one year low of $18.00 and a one year high of $25.90. The firm has a market cap of $1.27 billion, a PE ratio of 22.427 and a beta of 0.45. The company has a 50-day moving average of $20.16 and a 200 day moving average of $21.78.
NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Monday, May 1st. The software maker reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The company had revenue of $83.20 million during the quarter, compared to the consensus estimate of $81.99 million. NIC had a net margin of 17.64% and a return on equity of 39.07%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. Analysts expect that NIC will post $0.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, June 2nd. NIC’s dividend payout ratio is presently 37.65%.
In other news, COO Robert W. Knapp sold 25,000 shares of NIC stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the transaction, the chief operating officer now owns 197,531 shares in the company, valued at approximately $4,025,681.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Conestoga Capital Advisors LLC boosted its position in shares of NIC by 4.8% in the first quarter. Conestoga Capital Advisors LLC now owns 1,640,018 shares of the software maker’s stock valued at $33,128,000 after buying an additional 75,228 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of NIC by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock valued at $511,000 after buying an additional 400 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of NIC by 3.3% in the first quarter. Capstone Asset Management Co. now owns 18,505 shares of the software maker’s stock valued at $374,000 after buying an additional 585 shares in the last quarter. WCM Investment Management CA boosted its position in shares of NIC by 44.6% in the first quarter. WCM Investment Management CA now owns 83,180 shares of the software maker’s stock valued at $1,680,000 after buying an additional 25,640 shares in the last quarter. Finally, Creative Planning boosted its position in shares of NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock valued at $234,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.
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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