NIC Inc. (EGOV) Shares Gap Up to $22.89
NIC Inc. (NASDAQ:EGOV)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $22.82, but opened at $22.89. NIC shares last traded at $23.16, with a volume of 48,816 shares changing hands.
A number of research firms have weighed in on EGOV. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. 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 report 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’s stock. The stock has an average rating of “Hold” and a consensus target price of $20.75.
The company has a market cap of $1.53 billion and a price-to-earnings ratio of 34.06. The company has a 50-day moving average of $21.58 and a 200 day moving average of $19.02.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Monday, May 2nd. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. During the same quarter last year, the firm earned $0.14 earnings per share. The firm earned $78.39 million during the quarter, compared to analyst estimates of $74.89 million. NIC’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts forecast that NIC Inc. will post $0.69 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its position in 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 period. GSA Capital Partners LLP raised its position in 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 period. Rhumbline Advisers raised its position in 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 period. Finally, California State Teachers Retirement System raised its position in 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 period.
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.