NIC Inc. (EGOV) Hits New 12-Month High at $23.24
Shares of NIC Inc. (NASDAQ:EGOV) hit a new 52-week high during mid-day 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.
A number of analysts have weighed in on EGOV shares. Imperial Capital increased their price objective on NIC from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Tuesday, May 3rd. Zacks Investment Research raised NIC from a “sell” rating to a “hold” rating in a research report on Thursday, April 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $20.75.
The firm has a market capitalization of $1.53 billion and a price-to-earnings ratio of 34.07. The company’s 50 day moving average is $20.87 and its 200-day moving average is $18.85.
NIC (NASDAQ:EGOV) last announced its earnings results on Monday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. During the same period in the previous year, the firm posted $0.14 earnings per share. The business had revenue of $78.39 million for the quarter, compared to analysts’ expectations of $74.89 million. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities analysts anticipate that NIC Inc. will post $0.69 earnings per share for the current fiscal year.
Several hedge funds have made changes to their positions in EGOV. Wells Fargo & Company MN raised its stake 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 during the last quarter. California State Teachers Retirement System raised its stake 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 during the last quarter. GSA Capital Partners LLP raised its stake 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 during the last quarter. Finally, Rhumbline Advisers raised its stake 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 during 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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