NIC Inc. (NASDAQ:EGOV) reached a new 52-week high on Monday . The stock traded as high as $23.82 and last traded at $23.57, with a volume of 83,261 shares trading hands. The stock had previously closed at $23.32.

Several brokerages recently weighed in on EGOV. Zacks Investment Research downgraded NIC from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Imperial Capital increased their price target on NIC from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Tuesday, May 3rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $20.75.

The company has a market capitalization of $1.56 billion and a PE ratio of 34.85. The firm has a 50 day moving average of $22.07 and a 200 day moving average of $19.26.

An institutional investor recently raised its position in NIC stock. Rhumbline Advisers raised its stake in NIC Inc. (NASDAQ:EGOV) by 8.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 151,576 shares of the company’s stock after buying an additional 12,345 shares during the period. Rhumbline Advisers owned about 0.23% of NIC worth $2,983,000 as of its most recent filing with the SEC.

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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