Shares of NIC Inc. (NASDAQ:EGOV) hit a new 52-week high during trading on Wednesday . The company traded as high as $22.33 and last traded at $22.30, with a volume of 168,560 shares. The stock had previously closed at $22.08.

A number of analysts have commented on EGOV shares. Zacks Investment Research lowered NIC from a “hold” rating to a “sell” rating in a report on Tuesday, March 22nd. Imperial Capital boosted their price objective on NIC from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Tuesday, May 3rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.75.

The firm has a market capitalization of $1.46 billion and a P/E ratio of 32.68. The stock’s 50-day moving average is $20.62 and its 200-day moving average is $18.83.

NIC (NASDAQ:EGOV) last posted its earnings results on Monday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The business earned $78.39 million during the quarter, compared to the consensus estimate of $74.89 million. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. On average, equities research analysts anticipate that NIC Inc. will post $0.69 EPS for the current year.

A number of hedge funds recently modified their holdings of EGOV. Wells Fargo & Company MN raised its stake in shares of NIC by 8.7% in the fourth quarter. Wells Fargo & Company MN now owns 53,078 shares of the company’s stock valued at $1,044,000 after buying an additional 4,253 shares during the period. California State Teachers Retirement System raised its stake in shares of NIC by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 121,436 shares of the company’s stock valued at $2,390,000 after buying an additional 1,930 shares during the period. GSA Capital Partners LLP raised its stake in shares of NIC by 29.2% in the fourth quarter. GSA Capital Partners LLP now owns 127,960 shares of the company’s stock valued at $2,518,000 after buying an additional 28,913 shares during the period. Rhumbline Advisers raised its stake in shares of NIC by 8.9% in the fourth quarter. Rhumbline Advisers now owns 151,576 shares of the company’s stock valued at $2,983,000 after buying an additional 12,345 shares during the period. Finally, Sei Investments Co. raised its stake in shares of NIC by 140.0% in the fourth quarter. Sei Investments Co. now owns 558,316 shares of the company’s stock valued at $10,987,000 after buying an additional 325,728 shares during the period.

NIC Inc (NIC) is a provider of eGovernment services that helps governments use the Internet. The Company operates in two segments: outsourced portal businesses and software & services businesses. In the Company’s outsourced portal businesses, the Company enters into long-term contracts with state and local governments to design, build, and operate Internet-based, enterprise-wide portals on their behalf.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.