NIC Inc. (NASDAQ:EGOV)‘s stock had its “neutral” rating reiterated by equities researchers at DA Davidson in a research note issued to investors on Wednesday. They currently 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 stock’s current price.
EGOV has been the subject of several other reports. Zacks Investment Research downgraded NIC from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Maxim Group set a $16.00 price target on NIC and gave the stock a “hold” rating in a report on Thursday, August 3rd. BidaskClub raised NIC from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Sidoti cut NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Friday, July 21st. Finally, TheStreet cut NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $19.71.
NIC (NASDAQ EGOV) opened at 16.90 on Wednesday. The stock’s 50 day moving average is $16.32 and its 200 day moving average is $19.07. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 19.88 and a beta of 0.40. NIC has a 12-month low of $15.45 and a 12-month high of $25.90.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The firm had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same period last year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts forecast that NIC will post $0.74 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in EGOV. BlackRock Inc. raised its position in NIC by 139,679.0% in the first quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock worth $151,087,000 after acquiring an additional 7,474,225 shares in the last quarter. Bank of New York Mellon Corp raised its position in NIC by 53.4% in the second quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock worth $25,604,000 after acquiring an additional 470,181 shares in the last quarter. FMR LLC raised its position in NIC by 136.8% in the first quarter. FMR LLC now owns 743,200 shares of the software maker’s stock worth $15,013,000 after acquiring an additional 429,400 shares in the last quarter. Vanguard Group Inc. raised its position in NIC by 7.8% in the first quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock worth $119,252,000 after acquiring an additional 427,702 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC raised its position in NIC by 20.8% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock worth $37,647,000 after acquiring an additional 321,052 shares in the last quarter. Hedge funds and other institutional investors own 92.93% 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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