Shares of NIC Inc. (NASDAQ:EGOV) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $23.24 and last traded at $23.19, with a volume of 143,546 shares changing hands. The stock had previously closed at $22.85.

A number of analysts have weighed in on EGOV shares. Imperial Capital increased their price objective on NIC from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Tuesday, May 3rd. Zacks Investment Research raised NIC from a “sell” rating to a “hold” rating in a research report on Thursday, April 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $20.75.

The firm has a market capitalization of $1.53 billion and a price-to-earnings ratio of 34.07. The company’s 50 day moving average is $20.87 and its 200-day moving average is $18.85.

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

Several hedge funds have made changes to their positions in 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 worth $1,044,000 after buying an additional 4,253 shares during the last quarter. 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 worth $2,390,000 after buying an additional 1,930 shares during the last quarter. 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 worth $2,518,000 after buying an additional 28,913 shares during the last quarter. Finally, 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 worth $2,983,000 after buying an additional 12,345 shares during the last quarter.

NIC Inc is a provider of digital government services that help governments use technology. The Company operates through Outsourced Portals segment. The Other Software & Services category includes its subsidiaries that provide software development and services, other than outsourced portal services, to state and local governments, as well as federal agencies.

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.