NIC Inc. (NASDAQ:EGOV) hit a new 52-week high during 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.

EGOV has been the topic of a number of recent analyst reports. Imperial Capital increased their target price on shares of NIC from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Tuesday, May 3rd. Zacks Investment Research raised shares of NIC from a “sell” rating to a “hold” rating in a research report on Thursday, April 7th. 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 a consensus rating of “Hold” and an average target price of $20.75.

The firm has a market cap of $1.53 billion and a P/E ratio of 34.12. The stock has a 50-day moving average of $21.12 and a 200 day moving average of $18.91.

NIC (NASDAQ:EGOV) last announced its earnings results on Monday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. During the same quarter in the prior year, the company earned $0.14 EPS. The company earned $78.39 million during the quarter, compared to the consensus estimate of $74.89 million. The business’s quarterly revenue was up 11.4% on a year-over-year basis. On average, analysts anticipate that NIC Inc. will post $0.69 earnings per share for the current fiscal year.

A number of institutional investors recently made changes to their positions in EGOV. Wells Fargo & Company MN raised its position 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. California State Teachers Retirement System raised its position 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. GSA Capital Partners LLP raised its position 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, Rhumbline Advisers raised its position 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.

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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