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.

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