Imperial Capital upgraded shares of NIC Inc. (NASDAQ:EGOV) from an in-line rating to an outperform rating in a research report released on Monday, Marketbeat reports. Imperial Capital currently has $23.00 price target on the software maker’s stock.
Several other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of NIC from a buy rating to a hold rating in a report on Monday, July 3rd. BidaskClub downgraded shares of NIC from a sell rating to a strong sell rating in a report on Friday, June 30th. Finally, DA Davidson initiated coverage on shares of NIC in a report on Wednesday, June 28th. They issued a neutral rating and a $20.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $22.29.
NIC (NASDAQ:EGOV) opened at 19.65 on Monday. NIC has a 12-month low of $18.00 and a 12-month high of $25.90. The company has a 50 day moving average of $19.48 and a 200-day moving average of $21.20. The stock has a market cap of $1.30 billion, a P/E ratio of 22.98 and a beta of 0.45.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Monday, May 1st. The software maker reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. NIC had a net margin of 17.64% and a return on equity of 39.07%. The company had revenue of $83.20 million for the quarter, compared to the consensus estimate of $81.99 million. During the same quarter in the prior year, the company earned $0.19 EPS. NIC’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that NIC will post $0.73 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th were given a $0.08 dividend. The ex-dividend date was Friday, June 2nd. This represents a $0.32 annualized dividend and a yield of 1.63%. NIC’s dividend payout ratio is presently 37.65%.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the sale, the chief operating officer now owns 197,531 shares in the company, valued at approximately $4,025,681.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Gotham Asset Management LLC raised its stake in NIC by 18.0% in the first quarter. Gotham Asset Management LLC now owns 293,849 shares of the software maker’s stock valued at $5,936,000 after buying an additional 44,856 shares in the last quarter. Ameriprise Financial Inc. raised its stake in NIC by 4.5% in the first quarter. Ameriprise Financial Inc. now owns 656,433 shares of the software maker’s stock valued at $13,260,000 after buying an additional 28,513 shares in the last quarter. Koch Industries Inc. bought a new stake in NIC during the first quarter valued at approximately $349,000. Karp Capital Management Corp bought a new stake in NIC during the first quarter valued at approximately $669,000. Finally, Spark Investment Management LLC raised its stake in NIC by 54.5% in the first quarter. Spark Investment Management LLC now owns 102,300 shares of the software maker’s stock valued at $2,066,000 after buying an additional 36,100 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.
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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