NIC Inc. (EGOV) Sees Strong Trading Volume
NIC Inc. (NASDAQ:EGOV) saw unusually-strong 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.
Several analysts have issued reports on EGOV shares. Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Thursday, June 2nd. Maxim Group increased their target price on shares of NIC from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $22.00.
The firm has a market capitalization of $1.55 billion and a P/E ratio of 33.14. The stock’s 50-day moving average price is $23.13 and its 200 day moving average price is $20.06.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $80.81 million for the quarter, compared to analysts’ expectations of $80.90 million. NIC’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS. Equities analysts anticipate that NIC Inc. will post $0.71 earnings per share for the current year.
In related news, insider Jayne Holland sold 2,000 shares of the company’s 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 sale, the insider now 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 SEC, which is available through the SEC website.
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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