NIC Inc. (EGOV) Sees Strong Trading Volume
Shares of NIC Inc. (NASDAQ:EGOV) saw unusually-high trading volume on Friday . Approximately 516,666 shares were traded during mid-day trading, an increase of 97% from the previous session’s volume of 262,227 shares.The stock last traded at $23.53 and had previously closed at $23.04.
EGOV has been the subject of several research reports. Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Thursday, June 2nd. Maxim Group upped their price objective on shares of NIC from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. NIC currently has an average rating of “Hold” and an average price target of $22.00.
The stock has a 50-day moving average of $23.13 and a 200 day moving average of $20.06. The firm has a market capitalization of $1.55 billion and a P/E ratio of 33.14.
NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm had revenue of $80.81 million for the quarter, compared to analysts’ expectations of $80.90 million. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that NIC Inc. will post $0.71 earnings per share for the current year.
In other NIC news, insider Jayne Holland sold 2,000 shares of NIC stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $23.35, for a total transaction of $46,700.00. Following the completion of the transaction, the insider now directly owns 94,283 shares of the company’s stock, valued at $2,201,508.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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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