NIC Inc. (NASDAQ:EGOV) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Monday.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Thursday, May 4th. Maxim Group reduced their price target on shares of NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. DA Davidson started coverage on shares of NIC in a research report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price target on the stock. Sidoti cut shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Friday, July 21st. Finally, Imperial Capital raised shares of NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Monday, July 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.
NIC (EGOV) opened at 15.85 on Monday. NIC has a 12 month low of $15.75 and a 12 month high of $25.90. The firm has a market capitalization of $1.05 billion, a P/E ratio of 18.65 and a beta of 0.42. The stock’s 50 day moving average price is $17.47 and its 200 day moving average price is $20.04.
NIC (NASDAQ:EGOV) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. NIC had a net margin of 14.96% and a return on equity of 34.45%. The firm had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same period last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts forecast that NIC will post $0.74 earnings per share for the current year.
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In other news, COO Robert W. Knapp sold 25,000 shares of NIC stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.38, for a total value of $509,500.00. Following the completion of the transaction, the chief operating officer now owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Pacad Investment Ltd. increased its stake in shares of NIC by 350.0% in the second quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock valued at $102,000 after buying an additional 4,200 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of NIC during the first quarter valued at approximately $111,000. SG Americas Securities LLC increased its stake in shares of NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after buying an additional 482 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock valued at $138,000 after buying an additional 140 shares during the last quarter. Finally, Pinebridge Investments L.P. increased its stake in shares of NIC by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock valued at $156,000 after buying an additional 108 shares during the last quarter. 92.55% of the stock is owned by institutional investors and hedge funds.
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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