Maxim Group Analysts Give NIC Inc. (NASDAQ:EGOV) a $16.00 Price Target
Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of NIC from a hold rating to a buy rating and set a $23.00 price objective on the stock in a research report on Thursday, May 4th. BidaskClub lowered shares of NIC from a sell rating to a strong sell rating in a research report on Friday, June 30th. DA Davidson assumed coverage on shares of NIC in a research report on Wednesday, June 28th. They issued a neutral rating and a $20.00 price objective on the stock. Sidoti lowered shares of NIC from a buy rating to a neutral rating and set a $19.00 price objective on the stock. in a research report on Friday, July 21st. Finally, Imperial Capital upgraded shares of NIC from an in-line rating to an outperform rating and set a $23.00 price objective on the stock in a research report on Monday, July 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $20.00.
NIC (NASDAQ:EGOV) traded down 0.30% during mid-day trading on Thursday, hitting $16.35. 176,858 shares of the stock traded hands. The company has a 50 day moving average of $18.52 and a 200-day moving average of $20.67. The stock has a market cap of $1.08 billion, a PE ratio of 19.24 and a beta of 0.42. NIC has a 12-month low of $15.75 and a 12-month high of $25.90.
NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. NIC had a net margin of 17.31% and a return on equity of 38.37%. The firm had revenue of $85.30 million for the quarter, compared to analyst estimates of $83.57 million. During the same period last year, the firm posted $0.20 EPS. NIC’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that NIC will post $0.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.95%. NIC’s payout ratio is currently 38.10%.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the sale, the chief operating officer now directly owns 197,531 shares in the company, valued at approximately $4,025,681.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in shares of NIC during the first quarter valued at approximately $111,000. SG Americas Securities LLC raised its stake in shares of NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after buying an additional 482 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock valued at $138,000 after buying an additional 140 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of NIC by 595.1% in the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock valued at $180,000 after buying an additional 7,647 shares during the last quarter. Finally, Wrapmanager Inc. bought a new stake in shares of NIC during the second quarter valued at approximately $214,000. Institutional investors own 92.76% of the company’s stock.
NIC Company Profile
NIC Inc is a provider of digital government services that help governments use technology to provide services to businesses and citizens. The Company operates through Outsourced Portals segment. The Company offers its services through two channels: primary outsourced portal businesses, and software and services businesses.
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