NIC Inc. (NASDAQ:EGOV) was the target of unusually large options trading activity on Monday. Traders purchased 995 put options on the stock. This is an increase of 456% compared to the average daily volume of 179 put options.
EGOV has been the subject of several recent analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $18.00 price objective on shares of NIC in a report on Wednesday, September 20th. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Tuesday, October 3rd. Maxim Group reiterated a “hold” rating and set a $16.00 target price on shares of NIC in a research note on Thursday, November 2nd. Finally, BidaskClub cut shares of NIC from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.43.
NIC (NASDAQ:EGOV) opened at $17.35 on Friday. The stock has a market cap of $1,150.00, a price-to-earnings ratio of 21.16, a PEG ratio of 2.13 and a beta of 0.38. NIC has a one year low of $15.45 and a one year high of $25.70.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, November 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $84.53 million during the quarter, compared to analysts’ expectations of $83.55 million. NIC had a net margin of 16.42% and a return on equity of 36.89%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. equities research analysts forecast that NIC will post 0.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, December 5th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Monday, December 4th. NIC’s dividend payout ratio (DPR) is currently 39.02%.
Institutional investors have recently made changes to their positions in the stock. Pacad Investment Ltd. grew its holdings in NIC by 350.0% during the 2nd quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock worth $102,000 after acquiring an additional 4,200 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in NIC during the 2nd quarter worth about $153,000. Pinebridge Investments L.P. grew its holdings in NIC by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock worth $156,000 after acquiring an additional 108 shares during the last quarter. Private Advisor Group LLC bought a new stake in NIC during the 3rd quarter worth about $183,000. Finally, First Trust Advisors LP bought a new stake in NIC during the 3rd quarter worth about $188,000. Institutional investors and hedge funds own 93.23% of the company’s stock.
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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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