Brokerages Set NIC Inc. (EGOV) Target Price at $17.00
Shares of NIC Inc. (NASDAQ:EGOV) have received a consensus rating of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.00.
EGOV has been the subject of several analyst reports. ValuEngine lowered shares of NIC from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 19th. BidaskClub downgraded shares of NIC from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Loop Capital upped their price objective on shares of NIC to $17.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. Barrington Research restated a “hold” rating on shares of NIC in a report on Monday, August 6th. Finally, TheStreet downgraded shares of NIC from a “b-” rating to a “c+” rating in a report on Monday, October 1st.
Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in NIC in the 1st quarter worth approximately $148,000. Schwab Charles Investment Management Inc. increased its holdings in NIC by 3.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 319,100 shares of the software maker’s stock worth $4,245,000 after buying an additional 9,593 shares during the period. Dimensional Fund Advisors LP increased its holdings in NIC by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,103,455 shares of the software maker’s stock worth $27,976,000 after buying an additional 18,371 shares during the period. Quantbot Technologies LP acquired a new position in NIC in the 1st quarter worth approximately $127,000. Finally, Principal Financial Group Inc. increased its holdings in NIC by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 545,760 shares of the software maker’s stock worth $7,259,000 after buying an additional 15,642 shares during the period. Hedge funds and other institutional investors own 94.20% of the company’s stock.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, August 1st. The software maker reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The business had revenue of $92.50 million during the quarter, compared to analyst estimates of $90.36 million. NIC had a net margin of 16.52% and a return on equity of 33.16%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 earnings per share. As a group, equities research analysts predict that NIC will post 0.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Wednesday, September 5th were issued a dividend of $0.08 per share. The ex-dividend date was Tuesday, September 4th. This represents a $0.32 annualized dividend and a dividend yield of 2.26%. NIC’s dividend payout ratio (DPR) is currently 41.56%.
NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.
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