NIC Inc. (EGOV) Sees Unusually-High Trading Volume
NIC Inc. (NASDAQ:EGOV) saw unusually-high trading volume on Wednesday . Approximately 643,686 shares changed hands during trading, an increase of 68% from the previous session’s volume of 382,077 shares.The stock last traded at $23.20 and had previously closed at $23.18.
EGOV has been the subject of a number of analyst reports. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Thursday, June 2nd. Imperial Capital upped their price objective on shares of NIC from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Tuesday, May 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $20.75.
The company’s 50 day moving average price is $21.12 and its 200-day moving average price is $18.91. The stock has a market capitalization of $1.53 billion and a P/E ratio of 34.12.
NIC (NASDAQ:EGOV) last announced its quarterly earnings data on Monday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $78.39 million for the quarter, compared to the consensus estimate of $74.89 million. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. On average, equities research analysts predict that NIC Inc. will post $0.69 EPS for the current fiscal year.
Other large investors recently made changes to their positions in the company. California State Teachers Retirement System boosted 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 in the last quarter. Rhumbline Advisers boosted 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 in the last quarter. GSA Capital Partners LLP boosted 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 in the last quarter. Finally, Wells Fargo & Company MN boosted 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 in 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.
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